New Mexico C PACE program aims to finance commercial property improvements

In the heart of San Juan County, a pivotal government meeting unfolded on May 20, 2025, where local leaders gathered to address pressing community issues. Among the key discussions was the proclamation declaring May 2025 as Mental Health Awareness Month, a motion that received unanimous support from the commission. This declaration aims to highlight the importance of mental health resources and support within the community, reflecting a growing recognition of mental health as a critical aspect of public well-being.

Following this significant proclamation, the meeting shifted focus to a presentation on the New Mexico Commercial Property Assessed Clean Energy (C-PACE) program. Eric Christensen, the program administrator, and Don Nicolini, who joined in person, provided an in-depth overview of this innovative financing initiative designed to support energy efficiency improvements in commercial properties.

Christensen explained that C-PACE allows property owners to finance upgrades that enhance energy efficiency, reduce water consumption, and improve building resilience against environmental challenges. The program is unique in that it relies entirely on private sector funding, requiring local government involvement only to facilitate the placement of a special assessment lien on the property. This lien serves as a mechanism for repayment, ensuring that the financial burden does not fall on the county.

The C-PACE program, which launched in New Mexico in April 2024, has already shown promise, with over 90 lenders across the country funding more than $7 billion in projects. Eligible properties include commercial, agricultural, and multi-family units with five or more dwellings, making it a versatile tool for various stakeholders.

Christensen emphasized the benefits of C-PACE financing, including the ability to cover up to 100% of project costs, fixed interest rates, and repayment terms extending up to 30 years. This flexibility allows property owners to undertake significant improvements without the immediate financial strain, ultimately enhancing property values and reducing operating costs.

As the meeting progressed, the commissioners engaged with Christensen and Nicolini, asking questions about the program's implementation and its potential impact on local businesses and the environment. The discussion underscored a collective commitment to fostering sustainable development and supporting the community's economic growth.

In conclusion, the San Juan County Commission meeting not only marked a step forward in mental health advocacy but also showcased a proactive approach to environmental sustainability through the C-PACE program. As the county moves forward, these initiatives promise to enhance the quality of life for residents while promoting responsible and resilient development practices.