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City staff brief committee on CPACE financing option for commercial energy, water and resilience projects
Summary
Staff briefed the Jobs and Economic Development Committee on CPACE, a new state‑authorized financing mechanism for energy, water and resilience upgrades that records long‑term assessments on commercial properties and is administered statewide by EDPNC under SB 802.
City staff briefed the Jobs and Economic Development Committee on Feb. 3 about Commercial Property Assessed Clean Energy (CPACE), a voluntary financing mechanism authorized by North Carolina’s SB 802 that allows long‑term financing placed as a property lien for energy efficiency, renewables, water efficiency and resilience projects.
Todd (city staff) and Aaron Tower explained CPACE lets private lenders finance eligible improvements and record an assessment (a lien) on the commercial property; the lien generally travels with the property so repayment obligations remain with the property until satisfied. Staff…
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