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Commissioners authorize local participation in state CPACE program to expand financing options for resilient commercial projects
Summary
Board approved notice and resolution to participate in the state CPACE program, a financing option for commercial projects that meet energy efficiency or resiliency standards; staff said the county assumes no loan liability under the state program.
The Brunswick County Board of Commissioners approved local participation in North Carolina’s Commercial Property Assessed Clean Energy (CPACE) program on June 16, allowing commercial and certain industrial projects that exceed building code minimums for energy efficiency or structural resiliency to use CPACE financing.
County staff described CPACE as a statutory program administered in North Carolina by the Economic Development Partnership of North Carolina and noted that participation requires the county to adopt a notice of intent, hold a public hearing and then adopt a resolution to be recorded with each project that uses the mechanism. Staff said the county would act as a local administrative entity with Brunswick Business and Industry Development and that the county would not be a lender or be liable for the loans.
The board discussion noted CPACE programs in neighboring counties and that no CPACE loans had closed yet statewide, though proponents said the program can extend loan terms and attract higher‑value investments by allowing financing of energy or resiliency upgrades attached to property tax records.
Commissioners voted to place the CPACE notice and resolution on the schedule and proceed with the required public hearing and local resolution steps so the financing option is available to local businesses.
Staff said individual projects would return to the board for approval of the required recorded documents when developers apply.
