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Commissioners approve CPACE participation for commercial energy financing
Summary
Edgecombe County commissioners voted to join the statewide CPACE program, a financing mechanism that lets commercial property owners borrow for energy efficiency, renewable and resiliency upgrades and repay via a special assessment on property taxes; staff said joining creates no legal liability for the county beyond document execution.
Edgecombe County has formally joined the statewide Commercial Property Assessed Clean Energy (CPACE) program after the board approved a resolution during Monday’s meeting.
Deputy county manager Natalie Best described CPACE as a tool that allows commercial property owners to finance energy efficiency, renewable energy and resiliency improvements and repay the private financing through long‑term special assessments attached to their property tax bills. “Joining the statewide program does not expose a local government to any financial or legal liability,” Best told the board, and staff said the statewide administrator and private capital providers will manage project approvals and provide applicants to local governments.
Staff noted qualifying improvements may include energy efficiency upgrades, renewable energy systems, water‑conservation measures and projects that address safe drinking water; the statewide administrator will collect a $500 administration fee at project closing for approved projects. After a brief public hearing — for which there were no in‑person commenters on CPACE — a commissioner moved to approve the resolution and the board adopted it by voice vote.
The county posted the resolution and public notice on the county website and at the county manager’s office; staff said local governments participating in the program will be reimbursed for actual, reasonable costs associated with executing the assessment documents. The decision allows interested commercial property owners in Edgecombe County to pursue CPACE financing through the statewide administrator and participating private capital providers.
What’s next: Staff advised that completed project applications approved by the statewide administrator will result in an assessment recorded against the property; the county’s role is limited to executing the assessment documents and receiving reimbursement for administrative costs. Officials encouraged businesses and developers with qualifying projects to contact the statewide program administrator for details.
