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Rutherford County committee approves CPACE program; TN PACE named administrator
Summary
Rutherford County's Budget, Finance and Investment Committee voted Oct. 9 to allow the county to participate in a Commercial Property Assessed Clean Energy and Resiliency (CPACE) program and to designate TN PACE as the program's third-party administrator.
Rutherford County's Budget, Finance and Investment Committee voted Oct. 9 to authorize the county's participation in a Commercial Property Assessed Clean Energy and Resiliency program and designated TN PACE as the third-party administrator.
The committee heard a presentation from Ted Beatty, Rutherford County trustee, and Chris Jones of TN PACE explaining the program's mechanics. Beatty said the program allows property owners to finance qualifying renewable-energy, energy-efficiency, water-conservation and resiliency improvements through a special-assessment loan that carries a tax-priority lien position. "The county is not guaranteeing a loan. The…
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