Committee forwards CPACE ordinance to let businesses access Efficiency Maine financing

The Bangor City Business & Economic Development Committee voted to forward a CPACE ordinance to the full city council that would let commercial property owners access Commercial Property Assessed Clean Energy financing administered by Efficiency Maine.

Economic and development staff described CPACE as a program allowing private commercial property owners to secure financing for energy-efficiency and clean-energy improvements through a lien on the property; Efficiency Maine would administer the program, and approved capital providers would supply project funds. Staff emphasized the city would not provide financing and would not assume liability for private loan defaults.

"There is basically no liability from the city," staff said, noting that capital providers would have primary responsibility in a default and that the city’s role would be administrative oversight and approval of individual project agreements. The ordinance would opt the city into the statewide program and authorize an administrative agreement with Efficiency Maine to take on most program management responsibilities.

Committee members confirmed that participation would be voluntary for property owners and would not obligate the city financially. After discussion the committee voted to forward the ordinance to the full council for final consideration.