Halifax County board adopts resolution of intent to opt into state CPACE financing program

Halifax County commissioners voted to adopt a resolution of intent to participate in North Carolina's CPACE program, a state-authorized financing tool for qualifying commercial, industrial, nonprofit and multifamily property improvements.

At the meeting Mr. Layton summarized the CPACE program (citing Senate Bill 802), explaining that the program is administered by the Economic Development Partnership of North Carolina and allows private capital providers to finance qualifying energy-efficiency, resiliency and redevelopment projects secured by a voluntary assessment on the property. Layton emphasized that local government does not lend money, guarantee loans or use taxpayer funds; the county's role would be limited to adopting participation documents and executing assessment paperwork for approved projects.

Commissioners asked for examples of eligible projects; Layton said manufacturing, multifamily housing developments, nonprofits and larger commercial projects commonly use CPACE financing, and noted an application fee (he cited a $500 fee) and state eligibility checks. Following discussion, Commissioner Burns moved to adopt the resolution of intent, Commissioner Redding seconded, and the board approved the motion by voice vote. The presenter said the county would hold a public hearing on July 6 as the next step toward full participation.

The resolution of intent does not commit Halifax County to finance projects or to absorb private debt; it only initiates the local process required by state law so property owners can apply to the state program and private lenders for eligible financing.