TITLE
Title
PUBLIC HEARING ON 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 Board of County Commissioners adopted a Resolution of Intent to adopt C-PACE during the September 3, 2026, and amended the resolution at the September 17, 2026 meeting as 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 identified the County office responsible for executing required documents once the Statewide Administrator approves a project application. This action is to hold a public hearing, as required by N.C. Gen. Stat. §160A-239.15(a), and, after the public hearing is held, consider adoption of a Resolution to Join the Commercial Property Assessed Capital Expenditure (C-PACE) Program.
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BUDGET IMPACT
Budget Impact
NO ADDITIONAL COUNTY FUNDS REQUIRED
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REQUESTED ACTION
Requested Action
Conduct a Public Hearing and Consider Adoption of a Resolution to join the Commercial Property Assessed Capital Expenditure (C-PACE) Program and direct staff to work with the Economic Development Partnership of North Carolina (EDPNC) to administer the program.
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