Commissioners approve two CPACE assessment contracts for downtown projects

County staff presented two assessment contracts under the county's CPACE (Commercial Property-Assessed Clean Energy) program and the commissioners voted to approve both.

Keith, a purchasing-office staff member, told commissioners the first applicant, identified as Hard to Find LLC, is redeveloping the corner of Northwest 13th Street and Broadway into a new Guernsey Engineering headquarters. He said the total project is about $40 million and the PACE loan being considered is $3,271,000. "The PACE loan that... we're talking about is $3,271,000," Keith said.

The second applicant, identified as Liberty Liberty Bell OK LLC, is a long-running proposal to convert the former Stowe's office building into an approximately $30 million apartment project that will include ground-floor market space with small food and grocery options and some office space, Keith said. Both projects will include building-envelope upgrades and mechanical system improvements to meet energy-efficiency standards required for CPACE participation.

Nut graf: County staff recommended both assessment contracts as compliant with CPACE requirements; commissioners moved and seconded approval and the motion carried.

The transcript shows commissioners asked no substantive follow-up during the presentation and approved the item as presented. The county record packet referenced taxes being paid current for both properties and planning paperwork for the projects; the transcript does not include additional contract terms beyond the loan amount mentioned for the Guernsey project.

Ending: The commissioners approved the two CPACE assessment contracts; the transcript records a motion, a second and a voice vote approving the item during this meeting.