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Meridian council hears CPACE presentation, asks staff to return with lenders and developers for deeper review
Summary
City economic development staff briefed council on IdahoCPACE financing, outlining eligible projects and administrative requirements; councilmembers expressed caution about staff time and lender mechanics and asked staff to convene financing experts and developers for follow-up.
Curtis Calder, Meridianeconomic development administrator, told the City Council on Jan. 6 that IdahoCPACE (Commercial Property Assessed Capital Expenditure) enables counties and municipalities to establish a voluntary program allowing owners of eligible commercial property to access long-term private financing for qualifying capital improvements. Calder said IdahoCPACE is established in 2024 legislation that created a new chapter 38 in Title 7 of the Idaho Code and that it allows local governments to define resiliency projects and set program rules.
"If you were to Google the term CPACE, the 'C' and the 'E' would mean clean energy in most cases. But in Idaho it stands for capital expenditure," Calder said, and he summarized qualifying improvements as measures…
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