A state public / private bank
We need a state bank. North Dakota has one and it invests in infrastructure that builds the North Dakota economy. There is an Oregon constitution amendment prohibiting a fully state run bank, so we either need to change this amendment, or have a hybrid public / private bank managed by the voters.
We need to build clean energy infrastructure on a large scale and quickly. To do this we need up front investment. This investment should come from leveraging our tax revenue in the same way that a bank leverages its deposits. Nobody else is going to make this capital available to us other than ourselves. We don't have to be as reckless as the wall street banks that caused the 2008 global economic meltdown and had to be bailed out by American taxpayers. We can invest only in profitable projects that are in the public interest. And what we build should be owned by Oregon taxpayers.
Because we are building profit making publicly owned infrastructure, we can charge ourselves a modest amount of interest - for instance, 2%. As long as we get a return on our investment of more than the rate of interest we're charging ourselves, we're making a profit. We can charge rates for the electricity we provide, like any other utility would. This will make our state money.
This state bank will also invest in affordable housing. The principle is the same. We take for example 2 billion of the 9 billion in tax revenue we collect in Oregon every year, and loan that out to ourselves at a rate of 3 to 1, which gives us 6 billion in financing for development projects. We charge ourselves a modest amount of interest. For example, 2%. With this money we hire contractors to build affordable housing around the state and pay back our contractors and collect rent and pay back our loan to ourselves. This is how any other bank would operate.