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Council creates commercial property assessed clean energy (C‑PACE) program, Efficiency Maine to administer
Summary
An ordinance passed unanimously to establish a commercial property assessed clean energy financing program allowing qualifying commercial property owners to better finance energy efficiency and renewable improvements, with Efficiency Maine named as administrator.
The Bangor City Council unanimously passed an ordinance (25‑192) to create a commercial property assessed clean energy program, commonly called C‑PACE, which will allow qualifying commercial property owners to secure upfront financing for energy efficiency and renewable energy improvements through a property tax assessment mechanism.
Under the ordinance, property owners would borrow from third‑party capital…
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