Item:
Title
Public Hearing and Consideration of Resolution Authorizing County Participation in the North Carolina Commercial - Property Assessed Capital Expenditure Program (C-PACE) (10min)
Body
Date of BOCC Meeting: May 26, 2026
Request for Board Action:
Agenda Text
The Board is requested to hold a public hearing and consider adoption of the resolution authorizing the County to participate in the North Carolina Commercial - Property Assessed Capital Expenditure (C-PACE) Program.
This program will allow commercial and non-profit entities to access financing for energy efficiency, renewable energy, and resilience projects on their properties. These types of projects often have longer payback periods that are difficult to justify on a building that might be sold before the return on investment is achieved. Because C-PACE financing is tied to a lien on the property, it can be passed along to the next owner, thus reducing the risk to the original owner who is making the investment. This financing can be an incentive for commercial, agricultural, industrial, and multifamily property owners to reduce greenhouse gas emissions, install renewable energy systems, and improve their property to increase resilience to disasters.
Joining the statewide C-PACE program does not expose the County to any financial or legal liability (N.C.G.S. 160A-239.16(a)). Private capital providers and the statewide administrator, EDPNC, will assist interested commercial property owners to apply for C-PACE financing and handle all of the administrative issues other than recording the lien. Local governments that join the C-PACE program will be reimbursed for actual and reasonable costs associated with executing documents related to C_PACE assessments up to $500 per project. Except for executing documents, there is no other administrative involvement by local government.
A public hearing is required by law before a local government elects to participate in C-PACE.
Alignment with Strategic Plan: This request aligns with Durham County Strategic Goal: Sustainable Infrastructure & Environment and Empowered Community.
Resource Persons: Tobin L. Freid, Sustainability Manager; Matthew Filter, Economic Development Manager; Andrew Miracle, Economic Development Director
County Manager’s Recommendation: The Manager recommends the Board conduct the required public hearing and consider adoption of the resolution authorizing the County to participate in the North Carolina Commercial - Property Assessed Capital Expenditure (C-PACE) Program.
Signature
County Manager: ____________________________