The Oregonian - February 08, 2006
BRIEFS

BEAVERTON - City officials plan to use a $1 million loan from the Oregon Department of Energy to extend the heating and cooling plant at the Round at Beaverton Central to other buildings. The city gained control of the utility in June 2005 after settling two lawsuits with Dorn-Platz Properties of Glendale, Calif., the Round's developer.

The Round is a mixed-use development of residences and businesses at Southwest Hall Boulevard and the MAX light-rail line.

The new loan is in addition to a loan of nearly $608,000 that was used to build the plant and extend it to buildings already constructed. The city assumed that loan when it took over the plant.

The revenue from charging tenants for heating and cooling will cover the costs of both loans, said Linda Adlard, the city's chief of staff.

The new loan will pay for extending the system to the parking garage now under construction, two planned office buildings and future development on the Westgate Theatre property to the west. The loan would have a term of 15 years and an interest rate of about 6.5 percent.

It will not cover the cost for extending the system to a parking garage and office building planned on the north edge of the Round.

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© 2006 The Oregonian