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CPACE briefing outlines a way to finance energy, water and resilience projects without county debt
Summary
A national CPACE advocate told Teton County commissioners that a CPACE program can mobilize private capital for commercial energy and water efficiency upgrades with no public debt or taxpayer exposure; commissioners asked staff to explore MOU and admin arrangements.
TETON COUNTY, Idaho — A representative of the CPACE Alliance told Teton County commissioners Oct. 27 that commercial PACE financing could let building owners invest in efficiency and resilience while the county has little or no financial exposure.
Leah Wiggs, executive director of the CPACE Alliance, described statutory authority in Idaho (citing Title 67, Chapter 38) and outlined protections built into many state CPACE programs: participation is voluntary, mortgage-holder consent is required, every project requires licensed-engineer certification of efficiency gains, and the special tax assessment is initiated by the property owner rather than the county. “CPACE enables the county to authorize voluntary private sector financing for energy, water and resiliency improvements on commercial and multifamily properties,” Wiggs said in her presentation.
Wiggs and other speakers noted Idaho municipalities and counties already using CPACE, and she reviewed program elements — a program guidebook, application fee (statutory cap $500) and servicing fee (1% up to $50,000) that can make the program self-funding if run by a third-party administrator such as a regional economic development coalition. Commissioners asked for a follow-up that would include the treasurer’s office and an MOU with a proposed administrator.
What’s next: Staff will draft a scope/MOU for a possible locally administered CPACE program, explore administrative cost estimates and report back to the board before a resolution of intent is drafted.
