diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/ImplementationBodyCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/ImplementationBodyCodegen.java
index 81c5cbef9ae..71acad3ba6a 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/ImplementationBodyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/ImplementationBodyCodegen.java
@@ -19,6 +19,7 @@ package org.jetbrains.jet.codegen;
 import com.google.common.collect.Lists;
 import com.intellij.openapi.progress.ProcessCanceledException;
 import com.intellij.util.ArrayUtil;
+import kotlin.Function0;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
 import org.jetbrains.jet.codegen.binding.CalculatedClosure;
@@ -43,7 +44,6 @@ import org.jetbrains.jet.lang.resolve.DescriptorUtils;
 import org.jetbrains.jet.lang.resolve.OverrideResolver;
 import org.jetbrains.jet.lang.resolve.calls.CallResolverUtil;
 import org.jetbrains.jet.lang.resolve.calls.model.ResolvedCall;
-import org.jetbrains.jet.lang.resolve.constants.CompileTimeConstant;
 import org.jetbrains.jet.lang.resolve.java.AsmTypeConstants;
 import org.jetbrains.jet.lang.resolve.java.JvmAbi;
 import org.jetbrains.jet.lang.resolve.java.JvmAnnotationNames;
@@ -1214,7 +1214,7 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
 
     private void generatePrimaryConstructorImpl(
             @Nullable ConstructorDescriptor constructorDescriptor,
-            @NotNull ExpressionCodegen codegen,
+            @NotNull final ExpressionCodegen codegen,
             @Nullable MutableClosure closure
     ) {
         List<ValueParameterDescriptor> paramDescrs = constructorDescriptor != null
@@ -1269,12 +1269,22 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
 
         boolean generateInitializerInOuter = isClassObjectWithBackingFieldsInOuter(descriptor);
         if (generateInitializerInOuter) {
-            ImplementationBodyCodegen parentCodegen = getParentBodyCodegen(this);
+            final ImplementationBodyCodegen parentCodegen = getParentBodyCodegen(this);
             //generate object$
             parentCodegen.genInitSingleton(descriptor, StackValue.singleton(descriptor, typeMapper));
-            generateInitializers(parentCodegen.createOrGetClInitCodegen(), myClass.getDeclarations(), bindingContext, state);
+            generateInitializers(myClass.getDeclarations(), new Function0<ExpressionCodegen>() {
+                @Override
+                public ExpressionCodegen invoke() {
+                    return parentCodegen.createOrGetClInitCodegen();
+                }
+            });
         } else {
-            generateInitializers(codegen, myClass.getDeclarations(), bindingContext, state);
+            generateInitializers(myClass.getDeclarations(), new Function0<ExpressionCodegen>() {
+                @Override
+                public ExpressionCodegen invoke() {
+                    return codegen;
+                }
+            });
         }
 
         iv.visitInsn(RETURN);
@@ -1658,131 +1668,6 @@ public class ImplementationBodyCodegen extends ClassBodyCodegen {
         iv.astore(OBJECT_TYPE);
     }
 
-    public static void generateInitializers(
-            @NotNull ExpressionCodegen codegen, @NotNull List<JetDeclaration> declarations,
-            @NotNull BindingContext bindingContext, @NotNull GenerationState state
-    ) {
-        JetTypeMapper typeMapper = state.getTypeMapper();
-        for (JetDeclaration declaration : declarations) {
-            if (declaration instanceof JetProperty) {
-                if (shouldInitializeProperty((JetProperty) declaration, typeMapper)) {
-                    initializeProperty(codegen, bindingContext, (JetProperty) declaration);
-                }
-            }
-            else if (declaration instanceof JetClassInitializer) {
-                codegen.gen(((JetClassInitializer) declaration).getBody(), Type.VOID_TYPE);
-            }
-        }
-    }
-
-
-    public static void initializeProperty(
-            @NotNull ExpressionCodegen codegen,
-            @NotNull BindingContext bindingContext,
-            @NotNull JetProperty property
-    ) {
-
-        PropertyDescriptor propertyDescriptor = (PropertyDescriptor) bindingContext.get(BindingContext.VARIABLE, property);
-        assert propertyDescriptor != null;
-
-        JetExpression initializer = property.getDelegateExpressionOrInitializer();
-        assert initializer != null : "shouldInitializeProperty must return false if initializer is null";
-
-        JetType jetType = getPropertyOrDelegateType(bindingContext, property, propertyDescriptor);
-
-        StackValue.StackValueWithSimpleReceiver propValue = codegen.intermediateValueForProperty(propertyDescriptor, true, null, MethodKind.INITIALIZER);
-
-        if (!propValue.isStatic) {
-            codegen.v.load(0, OBJECT_TYPE);
-        }
-
-        Type type = codegen.expressionType(initializer);
-        if (jetType.isNullable()) {
-            type = boxType(type);
-        }
-        codegen.gen(initializer, type);
-
-        propValue.store(type, codegen.v);
-    }
-
-    public static boolean shouldWriteFieldInitializer(PropertyDescriptor descriptor, JetTypeMapper mapper) {
-        //final field of primitive or String type
-        if (!descriptor.isVar()) {
-            Type type = mapper.mapType(descriptor);
-            return AsmUtil.isPrimitive(type) || "java.lang.String".equals(type.getClassName());
-        }
-        return false;
-    }
-
-    public static boolean shouldInitializeProperty(
-            @NotNull JetProperty property,
-            @NotNull JetTypeMapper typeMapper
-    ) {
-        JetExpression initializer = property.getDelegateExpressionOrInitializer();
-        if (initializer == null) return false;
-
-        PropertyDescriptor propertyDescriptor = (PropertyDescriptor) typeMapper.getBindingContext().get(BindingContext.VARIABLE, property);
-        assert propertyDescriptor != null;
-
-        CompileTimeConstant<?> compileTimeValue = propertyDescriptor.getCompileTimeInitializer();
-        if (compileTimeValue == null) return true;
-
-        //TODO: OPTIMIZATION: don't initialize static final fields
-
-        Object value = compileTimeValue.getValue();
-        JetType jetType = getPropertyOrDelegateType(typeMapper.getBindingContext(), property, propertyDescriptor);
-        Type type = typeMapper.mapType(jetType);
-        return !skipDefaultValue(propertyDescriptor, value, type);
-    }
-
-    @NotNull
-    private static JetType getPropertyOrDelegateType(@NotNull BindingContext bindingContext, @NotNull JetProperty property, @NotNull PropertyDescriptor descriptor) {
-        JetExpression delegateExpression = property.getDelegateExpression();
-        if (delegateExpression != null) {
-            JetType delegateType = bindingContext.get(BindingContext.EXPRESSION_TYPE, delegateExpression);
-            assert delegateType != null : "Type of delegate expression should be recorded";
-            return delegateType;
-        }
-        return descriptor.getType();
-    }
-
-    private static boolean skipDefaultValue(@NotNull PropertyDescriptor propertyDescriptor, Object value, @NotNull Type type) {
-        if (isPrimitive(type)) {
-            if (!propertyDescriptor.getType().isNullable() && value instanceof Number) {
-                if (type == Type.INT_TYPE && ((Number) value).intValue() == 0) {
-                    return true;
-                }
-                if (type == Type.BYTE_TYPE && ((Number) value).byteValue() == 0) {
-                    return true;
-                }
-                if (type == Type.LONG_TYPE && ((Number) value).longValue() == 0L) {
-                    return true;
-                }
-                if (type == Type.SHORT_TYPE && ((Number) value).shortValue() == 0) {
-                    return true;
-                }
-                if (type == Type.DOUBLE_TYPE && ((Number) value).doubleValue() == 0d) {
-                    return true;
-                }
-                if (type == Type.FLOAT_TYPE && ((Number) value).floatValue() == 0f) {
-                    return true;
-                }
-            }
-            if (type == Type.BOOLEAN_TYPE && value instanceof Boolean && !((Boolean) value)) {
-                return true;
-            }
-            if (type == Type.CHAR_TYPE && value instanceof Character && ((Character) value) == 0) {
-                return true;
-            }
-        }
-        else {
-            if (value == null) {
-                return true;
-            }
-        }
-        return false;
-    }
-
     protected void generateDelegates(ClassDescriptor toClass, StackValue field) {
         for (DeclarationDescriptor declaration : descriptor.getDefaultType().getMemberScope().getAllDescriptors()) {
             if (declaration instanceof CallableMemberDescriptor) {
diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/MemberCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/MemberCodegen.java
index c2b43e89ad7..82b9b83de3d 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/MemberCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/MemberCodegen.java
@@ -17,6 +17,7 @@
 package org.jetbrains.jet.codegen;
 
 import com.intellij.openapi.progress.ProcessCanceledException;
+import kotlin.Function0;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
 import org.jetbrains.jet.codegen.context.ClassContext;
@@ -30,18 +31,26 @@ import org.jetbrains.jet.lang.descriptors.annotations.Annotations;
 import org.jetbrains.jet.lang.descriptors.impl.SimpleFunctionDescriptorImpl;
 import org.jetbrains.jet.lang.psi.*;
 import org.jetbrains.jet.lang.resolve.BindingContext;
+import org.jetbrains.jet.lang.resolve.constants.CompileTimeConstant;
 import org.jetbrains.jet.lang.resolve.name.Name;
 import org.jetbrains.jet.lang.resolve.name.SpecialNames;
 import org.jetbrains.jet.lang.types.ErrorUtils;
+import org.jetbrains.jet.lang.types.JetType;
+import org.jetbrains.jet.storage.LockBasedStorageManager;
+import org.jetbrains.jet.storage.NotNullLazyValue;
 import org.jetbrains.org.objectweb.asm.MethodVisitor;
 import org.jetbrains.org.objectweb.asm.Type;
 
 import java.util.Collections;
+import java.util.List;
 
+import static org.jetbrains.jet.codegen.AsmUtil.boxType;
+import static org.jetbrains.jet.codegen.AsmUtil.isPrimitive;
 import static org.jetbrains.jet.lang.descriptors.CallableMemberDescriptor.Kind.SYNTHESIZED;
+import static org.jetbrains.jet.lang.resolve.java.AsmTypeConstants.OBJECT_TYPE;
 import static org.jetbrains.org.objectweb.asm.Opcodes.ACC_STATIC;
 
-public class MemberCodegen extends ParentCodegenAwareImpl {
+public abstract class MemberCodegen extends ParentCodegenAwareImpl {
     protected final FieldOwnerContext context;
     protected final ClassBuilder v;
     protected ExpressionCodegen clInit;
@@ -168,4 +177,108 @@ public class MemberCodegen extends ParentCodegenAwareImpl {
         }
         return clInit;
     }
+
+    protected void generateInitializers(@NotNull List<JetDeclaration> declarations, @NotNull Function0<ExpressionCodegen> createCodegen) {
+        NotNullLazyValue<ExpressionCodegen> codegen = LockBasedStorageManager.NO_LOCKS.createLazyValue(createCodegen);
+        for (JetDeclaration declaration : declarations) {
+            if (declaration instanceof JetProperty) {
+                if (shouldInitializeProperty((JetProperty) declaration)) {
+                    initializeProperty(codegen.invoke(), (JetProperty) declaration);
+                }
+            }
+            else if (declaration instanceof JetClassInitializer) {
+                codegen.invoke().gen(((JetClassInitializer) declaration).getBody(), Type.VOID_TYPE);
+            }
+        }
+    }
+
+    protected void initializeProperty(@NotNull ExpressionCodegen codegen, @NotNull JetProperty property) {
+        PropertyDescriptor propertyDescriptor = (PropertyDescriptor) bindingContext.get(BindingContext.VARIABLE, property);
+        assert propertyDescriptor != null;
+
+        JetExpression initializer = property.getDelegateExpressionOrInitializer();
+        assert initializer != null : "shouldInitializeProperty must return false if initializer is null";
+
+        JetType jetType = getPropertyOrDelegateType(property, propertyDescriptor);
+
+        StackValue.Property propValue = codegen.intermediateValueForProperty(propertyDescriptor, true, null, MethodKind.INITIALIZER);
+
+        if (!propValue.isStatic) {
+            codegen.v.load(0, OBJECT_TYPE);
+        }
+
+        Type type = codegen.expressionType(initializer);
+        if (jetType.isNullable()) {
+            type = boxType(type);
+        }
+        codegen.gen(initializer, type);
+
+        propValue.store(type, codegen.v);
+    }
+
+    protected boolean shouldInitializeProperty(@NotNull JetProperty property) {
+        JetExpression initializer = property.getDelegateExpressionOrInitializer();
+        if (initializer == null) return false;
+
+        PropertyDescriptor propertyDescriptor = (PropertyDescriptor) bindingContext.get(BindingContext.VARIABLE, property);
+        assert propertyDescriptor != null;
+
+        CompileTimeConstant<?> compileTimeValue = propertyDescriptor.getCompileTimeInitializer();
+        if (compileTimeValue == null) return true;
+
+        //TODO: OPTIMIZATION: don't initialize static final fields
+
+        Object value = compileTimeValue.getValue();
+        JetType jetType = getPropertyOrDelegateType(property, propertyDescriptor);
+        Type type = typeMapper.mapType(jetType);
+        return !skipDefaultValue(propertyDescriptor, value, type);
+    }
+
+    @NotNull
+    private JetType getPropertyOrDelegateType(@NotNull JetProperty property, @NotNull PropertyDescriptor descriptor) {
+        JetExpression delegateExpression = property.getDelegateExpression();
+        if (delegateExpression != null) {
+            JetType delegateType = bindingContext.get(BindingContext.EXPRESSION_TYPE, delegateExpression);
+            assert delegateType != null : "Type of delegate expression should be recorded";
+            return delegateType;
+        }
+        return descriptor.getType();
+    }
+
+    private static boolean skipDefaultValue(@NotNull PropertyDescriptor propertyDescriptor, Object value, @NotNull Type type) {
+        if (isPrimitive(type)) {
+            if (!propertyDescriptor.getType().isNullable() && value instanceof Number) {
+                if (type == Type.INT_TYPE && ((Number) value).intValue() == 0) {
+                    return true;
+                }
+                if (type == Type.BYTE_TYPE && ((Number) value).byteValue() == 0) {
+                    return true;
+                }
+                if (type == Type.LONG_TYPE && ((Number) value).longValue() == 0L) {
+                    return true;
+                }
+                if (type == Type.SHORT_TYPE && ((Number) value).shortValue() == 0) {
+                    return true;
+                }
+                if (type == Type.DOUBLE_TYPE && ((Number) value).doubleValue() == 0d) {
+                    return true;
+                }
+                if (type == Type.FLOAT_TYPE && ((Number) value).floatValue() == 0f) {
+                    return true;
+                }
+            }
+            if (type == Type.BOOLEAN_TYPE && value instanceof Boolean && !((Boolean) value)) {
+                return true;
+            }
+            if (type == Type.CHAR_TYPE && value instanceof Character && ((Character) value) == 0) {
+                return true;
+            }
+        }
+        else {
+            if (value == null) {
+                return true;
+            }
+        }
+        return false;
+    }
 }
diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/PackagePartCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/PackagePartCodegen.java
index e0c3b2606d0..9efd357a491 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/PackagePartCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/PackagePartCodegen.java
@@ -16,8 +16,8 @@
 
 package org.jetbrains.jet.codegen;
 
-import com.google.common.collect.Lists;
 import com.intellij.util.ArrayUtil;
+import kotlin.Function0;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.jet.codegen.context.FieldOwnerContext;
 import org.jetbrains.jet.codegen.state.GenerationState;
@@ -58,36 +58,28 @@ public class PackagePartCodegen extends MemberCodegen {
 
         writeKotlinSyntheticClassAnnotation(v, KotlinSyntheticClass.Kind.PACKAGE_PART);
 
-        for (JetDeclaration declaration : jetFile.getDeclarations()) {
+        List<JetDeclaration> declarations = jetFile.getDeclarations();
+
+        for (JetDeclaration declaration : declarations) {
             if (declaration instanceof JetNamedFunction || declaration instanceof JetProperty) {
                 genFunctionOrProperty((JetTypeParameterListOwner) declaration, v);
             }
         }
 
-        generateStaticInitializers();
+        if (state.getClassBuilderMode() == ClassBuilderMode.FULL) {
+            generateInitializers(declarations, new Function0<ExpressionCodegen>() {
+                @Override
+                public ExpressionCodegen invoke() {
+                    return createOrGetClInitCodegen();
+                }
+            });
+
+            if (clInit != null) {
+                clInit.v.visitInsn(RETURN);
+                FunctionCodegen.endVisit(clInit.v, "static initializer for package", jetFile);
+            }
+        }
 
         v.done();
     }
-
-    private void generateStaticInitializers() {
-        List<JetProperty> properties = Lists.newArrayList();
-        for (JetDeclaration declaration : jetFile.getDeclarations()) {
-            if (declaration instanceof JetProperty) {
-                JetProperty property = (JetProperty) declaration;
-                if (ImplementationBodyCodegen.shouldInitializeProperty(property, typeMapper)) {
-                    properties.add(property);
-                }
-            }
-        }
-        if (properties.isEmpty()) return;
-
-        ExpressionCodegen codegen = createOrGetClInitCodegen();
-
-        for (JetProperty property : properties) {
-            ImplementationBodyCodegen.initializeProperty(codegen, bindingContext, property);
-        }
-
-        codegen.v.visitInsn(RETURN);
-        FunctionCodegen.endVisit(codegen.v, "static initializer for package", jetFile);
-    }
 }
diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
index e04eb78c32e..175c2fc1118 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/PropertyCodegen.java
@@ -247,7 +247,7 @@ public class PropertyCodegen extends GenerationStateAware {
     private FieldVisitor generateBackingFieldAccess(JetNamedDeclaration p, PropertyDescriptor propertyDescriptor) {
         Object value = null;
 
-        if (ImplementationBodyCodegen.shouldWriteFieldInitializer(propertyDescriptor, typeMapper)) {
+        if (shouldWriteFieldInitializer(propertyDescriptor)) {
             CompileTimeConstant<?> initializer = propertyDescriptor.getCompileTimeInitializer();
             if (initializer != null) {
                 value = initializer.getValue();
@@ -257,6 +257,15 @@ public class PropertyCodegen extends GenerationStateAware {
         return generateBackingField(p, propertyDescriptor, false, propertyDescriptor.getType(), value);
     }
 
+    private boolean shouldWriteFieldInitializer(@NotNull PropertyDescriptor descriptor) {
+        //final field of primitive or String type
+        if (!descriptor.isVar()) {
+            Type type = typeMapper.mapType(descriptor);
+            return AsmUtil.isPrimitive(type) || "java.lang.String".equals(type.getClassName());
+        }
+        return false;
+    }
+
     private void generateGetter(@Nullable JetNamedDeclaration p, @NotNull PropertyDescriptor descriptor, @Nullable JetPropertyAccessor getter) {
         generateAccessor(p, getter, descriptor.getGetter() != null
                                     ? descriptor.getGetter()
diff --git a/compiler/backend/src/org/jetbrains/jet/codegen/ScriptCodegen.java b/compiler/backend/src/org/jetbrains/jet/codegen/ScriptCodegen.java
index ad8d491625c..f09c343e73a 100644
--- a/compiler/backend/src/org/jetbrains/jet/codegen/ScriptCodegen.java
+++ b/compiler/backend/src/org/jetbrains/jet/codegen/ScriptCodegen.java
@@ -16,11 +16,9 @@
 
 package org.jetbrains.jet.codegen;
 
+import kotlin.Function0;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
-import org.jetbrains.org.objectweb.asm.MethodVisitor;
-import org.jetbrains.org.objectweb.asm.Type;
-import org.jetbrains.org.objectweb.asm.commons.InstructionAdapter;
 import org.jetbrains.jet.codegen.context.CodegenContext;
 import org.jetbrains.jet.codegen.context.FieldOwnerContext;
 import org.jetbrains.jet.codegen.context.MethodContext;
@@ -34,13 +32,16 @@ import org.jetbrains.jet.lang.psi.JetDeclaration;
 import org.jetbrains.jet.lang.psi.JetScript;
 import org.jetbrains.jet.lang.psi.JetTypeParameterListOwner;
 import org.jetbrains.jet.lang.resolve.BindingContext;
+import org.jetbrains.org.objectweb.asm.MethodVisitor;
+import org.jetbrains.org.objectweb.asm.Type;
+import org.jetbrains.org.objectweb.asm.commons.InstructionAdapter;
 
 import java.util.Collections;
 import java.util.List;
 
-import static org.jetbrains.org.objectweb.asm.Opcodes.*;
 import static org.jetbrains.jet.codegen.binding.CodegenBinding.*;
 import static org.jetbrains.jet.lang.resolve.java.AsmTypeConstants.OBJECT_TYPE;
+import static org.jetbrains.org.objectweb.asm.Opcodes.*;
 
 // SCRIPT: script code generator
 public class ScriptCodegen extends MemberCodegen {
@@ -113,7 +114,7 @@ public class ScriptCodegen extends MemberCodegen {
             @NotNull ScriptDescriptor scriptDescriptor,
             @NotNull ClassDescriptor classDescriptorForScript,
             @NotNull ClassBuilder classBuilder,
-            @NotNull MethodContext context
+            @NotNull final MethodContext context
     ) {
 
         Type blockType = typeMapper.mapType(scriptDescriptor.getScriptCodeDescriptor().getReturnType());
@@ -129,7 +130,7 @@ public class ScriptCodegen extends MemberCodegen {
 
         mv.visitCode();
 
-        InstructionAdapter instructionAdapter = new InstructionAdapter(mv);
+        final InstructionAdapter instructionAdapter = new InstructionAdapter(mv);
 
         Type classType = bindingContext.get(ASM_TYPE, classDescriptorForScript);
         assert classType != null;
@@ -139,7 +140,7 @@ public class ScriptCodegen extends MemberCodegen {
 
         instructionAdapter.load(0, classType);
 
-        FrameMap frameMap = context.prepareFrame(typeMapper);
+        final FrameMap frameMap = context.prepareFrame(typeMapper);
 
         for (ScriptDescriptor importedScript : earlierScripts) {
             frameMap.enter(importedScript, OBJECT_TYPE);
@@ -153,11 +154,12 @@ public class ScriptCodegen extends MemberCodegen {
             frameMap.enter(parameter, argTypes[i + add]);
         }
 
-        ImplementationBodyCodegen.generateInitializers(
-                new ExpressionCodegen(instructionAdapter, frameMap, Type.VOID_TYPE, context, state, this),
-                scriptDeclaration.getDeclarations(),
-                bindingContext,
-                state);
+        generateInitializers(scriptDeclaration.getDeclarations(), new Function0<ExpressionCodegen>() {
+            @Override
+            public ExpressionCodegen invoke() {
+                return new ExpressionCodegen(instructionAdapter, frameMap, Type.VOID_TYPE, context, state, ScriptCodegen.this);
+            }
+        });
 
         int offset = 1;