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State CPACE program explained to Helena commission as a tool for commercial sustainability financing
Summary
Montana Facility Finance Authority staff described the Commercial Property Assessed Capital Enhancements (CPACE) program and how a local jurisdiction can adopt a CPACE district; presenters discussed benefits, administrative steps and local implementation issues including county vs. city roles.
Representatives of the Montana Facility Finance Authority described the statewide CPACE (Community Property Assessed Capital Enhancements) program to the Helena City Commission and answered commissioners’ questions about how the city might opt in to allow commercial property owners to finance energy-efficiency, water-conservation and renewable projects through a property tax assessment mechanism.
Carolyn Jones, CPACE program manager, said Montana enabled CPACE in the 2021 legislative session and the statewide program launched in January 2022. She described how CPACE financing is repaid as a special property tax assessment attached to the property, often with terms tied to the useful life of the improvement (commonly up to 25 years), which can reduce annual…
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