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Regional ColPac pitches CPACE financing for energy efficiency and seismic upgrades to Clatsop County
Summary
ColPac representatives urged Clatsop County to adopt a CPACE ordinance enabling privately financed energy‑efficiency and seismic upgrades through property assessments; presenters said lenders own the assessment lien and ColPac would administer the program if the county adopts model ordinance language.
Planning manager Jay Blake and representatives from ColPac presented the commercial property assessed clean energy (CPACE) financing tool and asked the board to consider adopting a model ordinance into county code.
Lydia of ColPac explained CPACE as an Oregon‑tailored program that uses a recorded benefit assessment to secure private financing for eligible energy‑efficiency and resilience improvements. She said eligible improvements include conventional energy upgrades and seismic rehabilitation measures.
“This is the core gem of the program design: the benefit assessment,” Lydia said, explaining that the assessment is recorded against the property and the investor then owns the lien that secures CPACE financing.
ColPac said the model ordinance materials provided to the board are based on language used in other Oregon counties, notably Hood River County, and that ColPac can administer the program to shield the county from ongoing administrative, legal or financial involvement beyond initial ordinance adoption. ColPac representatives said lenders participating in CPACE must be CPACE‑certified and that underwriting requires engineering sign‑off and upfront due diligence.
Presenters described program features: lien security owned by private investors; typical financing terms of up to 20–30 years; lower rates than traditional commercial loans in some cases; annual assessment payment structures; and eligibility that can include seismic resilience work. ColPac said the applicant (property owner) and investor handle much of the application and recording work and that lenders typically pay recording fees.
Jay Blake said staff had received two inquiries from applicants or financing organizations in the previous six months and that ColPac’s administrative capacity could make the county “shelf‑ready” for future projects. Sarah Liv of ColPac said outreach would target multifamily housing developers and that hoteliers are already showing interest.
Commissioners asked about county workload and risks. Lydia responded that adoption requires only initial ordinance action by the board and that ColPac would provide administrative interface. Blake said county assessor and tax collector offices have not historically experienced measurable extra workload because financers handle recording tasks.
Commissioner Thompson asked whether ColPac’s loan board would oversee capital providers; Lydia said the CPACE program requires certified lenders and that ColPac had presented the idea to its loan board, which was supportive, but the lenders themselves must meet program certification and application requirements.
ColPac requested that commissioners consider adoption of a CPACE ordinance based on the provided model materials and continue discussion about implementation and coordination with nearby counties.
Ending: Commissioners thanked the presenters and asked staff to review the draft ordinance and report back; no formal action or vote was taken at the meeting.
