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Commission hears New Mexico CPACE briefing; Exceptional Healthcare outlines Farmington emergency hospital financing needs
Summary
State CPACE program administrators briefed San Juan County commissioners on the Commercial Property Assessed Clean Energy program and local developer Exceptional Healthcare said it plans to use CPACE to finance energy and water-efficiency upgrades for a new Farmington emergency hospital.
San Juan County commissioners heard a presentation on New Mexico’s CPACE (Commercial Property Assessed Clean Energy) program and a project briefing from Exceptional Healthcare, which said it intends to use CPACE financing for energy- and water-efficiency measures at a Farmington emergency hospital under construction.
Eric Christensen, program administrator with Adelante Consulting, explained that CPACE finances energy, water and resiliency improvements on privately owned commercial, agricultural, industrial and multifamily properties of five or more units. “All of the funding comes from the private sector,” Christensen said, and counties must opt in by ordinance to permit CPACE transactions in their jurisdictions because the program uses an improvement special assessment lien to secure repayment.
Christensen highlighted features county officials asked about during the Q&A: CPACE transactions do not…
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