Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Energy Programs topic
No spam. Unsubscribe anytime.
State CPACE program briefed to Bedford council; staff workload, opt-in discussed
Summary
The BFA presented New Hampshire's new Commercial Property Assessed Clean Energy and Resilience (CPACE) program to the Bedford Town Council. Councilors expressed interest and raised questions about municipal recordation, staff workload, district definitions and liability; no action was taken.
James Key Wallace, executive director of the New Hampshire Business Finance Authority (BFA), briefed the Bedford Town Council on Oct. 22 about the state's newly revised CPACE (Commercial Property Assessed Clean Energy and Resilience) program, a private-lending tool that secures long-term loans for energy-efficiency and resilience projects using a special assessment that remains with the property on sale.
Wallace said CPACE loans are private and not town- or state-backed, and that the BFA administers the program and screens lenders and applications. He described typical eligible uses — solar, efficient lighting and HVAC, flood and fire resilience upgrades, and water or lead-pipe remediation — and said the special-assessment lien is recorded at the county registry of deeds. That structure, Wallace said, allows lenders to offer longer-term financing because the assessment stays with the property and transfers to subsequent owners.
Multiple councilors raised practical concerns. Several asked whether the opt-in process and lien recording would create litigation or an ongoing administrative burden for the town. Wallace said the new law minimizes municipal duties (the BFA and private lenders handle underwriting, billing and collections) and that recording and releasing the assessment are generally one-time actions handled at the county registry by closing attorneys; the BFA will notify a town when a loan is paid so the special assessment can be released. He also emphasized municipalities may limit participation to designated districts and that the BFA provides model ordinance language.
Councilors asked for examples and operational experience from other towns and recommended the BFA return with case studies demonstrating municipal workload and the experience of opted-in towns. Energy Commission member Chris Bandesi added that the council has discretion to define which zoning districts are eligible under the local ordinance. There was no vote; councilors agreed to consider the information and potentially request follow-up details before deciding whether to adopt an opt-in ordinance.
