TITLE
Title
RESOLUTION OF INTENT TO ADOPT THE COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE (C-PACE) PROGRAM
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SPONSOR
Sponsor
Heather Schaffer, Economic Development Manager
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BACKGROUND
Background
The North Carolina General Assembly has authorized a statewide Commercial Property Assessed Capital Expenditure (C-PACE) Program under Article 10B of Chapter 160A of the North Carolina General Statutes. This voluntary program enables participating local governments to allow commercial, industrial, agricultural, and multifamily property owners to access private financing for approved energy efficiency, renewable energy, resiliency, and water conservation improvements.
Under the C-PACE Program, financing is provided by qualified private capital providers and is secured through a voluntary property assessment and corresponding lien placed on the benefited property until the financing is repaid. The North Carolina Department of Commerce serves as the Program Sponsor, and the Economic Development Partnership of North Carolina (EDPNC) acts as the Statewide Administrator responsible for program administration and coordination.
The Resolution of Intent under consideration is the first step to authorize the C-PACE Program to operate within the County’s jurisdictional boundaries and outlines required statutory elements, including the County’s intent to allow C-PACE financing, impose and assign C-PACE assessments and liens, and delegate billing and enforcement responsibilities to the capital provider. It also identifies the County office responsible for executing required documents once the Statewide Administrator approves a project application. Subsequent steps include a public hearing on C-PACE Adoption, scheduled for September 17 at 5:30pm during the regular meeting of the Guilford County Board of Commissioners, and after the public hearing is held, adoption of a Resolution of Intent to Adopt the Commercial Property Assessed Capital Expenditure (C-PACE) Program.
Adoption of the Resolution of Intent is a prerequisite to participating in the statewide C-PACE Program and enables the County to hold a public hearing, as required by N.C. Gen. Stat. §160A-239.15(a), prior to further action.
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BUDGET IMPACT
Budget Impact
There is no cost to Guilford County for participating in C-PACE.
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REQUESTED ACTION
Requested Action
Adopt the Resolution of Intent to Adopt the Commercial Property Assessed Capital Expenditure (C-PACE) Program and direct staff to schedule a public hearing on September 17, 2026 at 5:30pm in the Commissioners Chamber, located on the second floor of the Old County Courthouse, 301 W. Market Street, Greensboro, NC.
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