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Edgecombe County approves resolution to join statewide CPACE clean-energy financing program
Summary
Commissioners approved a resolution to participate in the statewide Commercial Property Assessed Clean Energy (CPACE) program administered by the Economic Development Partnership of North Carolina, a financing tool for energy-efficiency, renewable and resiliency upgrades for qualifying commercial property owners.
The Edgecombe County Board of Commissioners voted Dec. 1 to adopt a resolution declaring the county's intent to participate in the statewide Commercial Property Assessed Clean Energy (CPACE) program administered by the Economic Development Partnership of North Carolina (EDPNC).
Deputy County Manager Natalie Best explained CPACE as a financing mechanism that allows owners of qualifying commercial properties to finance energy-efficiency, renewable energy and resilience upgrades through special long-term assessments that are repaid alongside property taxes. She noted the statewide administrator will assist commercial property owners and private capital providers will supply financing; local governments joining the program are not exposed to direct financial or legal liability beyond executing necessary documents.
The resolution authorizes participation in the statewide program and notes an administration fee collected by the statewide administrator at time of closing. The board approved the resolution by voice vote after a brief public-notice reading and the hearing; no public speakers addressed CPACE during the hearing.
Next steps: County staff will make the resolution documents available in the county manager's office and on the county website and will coordinate with EDPNC and interested property owners on CPACE applications and project closings.
