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Council hears presentation on commercial PACE program; SRS to administer local enrollments
Summary
Officials and a third‑party administrator described Utah’s Commercial PACE (C‑PACE) program to the council, answering questions about eligibility, costs, lender consent, and protections for the city. No council vote was recorded in the transcript.
Murray City council members heard a detailed presentation Jan. 7 about the state‑enabled Commercial Property Assessed Clean Energy program (C‑PACE) and the role Sustainable Real Estate Solutions (SRS) would play as a program administrator.
The presentation: Representatives from SRS explained how C‑PACE provides long‑term, fixed‑rate financing to property owners for energy efficiency, water conservation, electric‑vehicle charging infrastructure and seismic upgrades. The program attaches a voluntary special assessment to the property; the jurisdiction (city or county) places the assessment and then assigns it to a third‑party lender at closing so the city is not responsible for collection or enforcement.
Key points explained to council: - Eligibility and scope: Utah’s statute…
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