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Quorum Court hears first reading of CPACE ordinance to let Faulkner County join Arkansas PACE program
Summary
On first reading, Justice Justin Knight outlined ordinance 26-09 to authorize Faulkner County to join Arkansas's commercial PACE program for property-assessed financing of commercial energy and resiliency improvements; members asked for more detail on Pulaski's enabling ordinance and board structure before final vote.
Faulkner County’s Quorum Court held a first reading of Ordinance 26-09, which would authorize the county to join the Arkansas Property Assessed Capital Expenditure (CPACE) Improvement District and adopt the uniform participation agreement.
Justice Justin Knight, sponsor of the measure and chair of the Infrastructure Committee, summarized the program in plain terms: “So how CPACE works is it’s a fixed-rate long-term loan that’s attached to the property… It’s structured as a special assessment on the property tax and can be repaid directly to the lender,” Knight said. He listed qualifying improvements commonly financed through CPACE, including HVAC upgrades, insulation, solar and resiliency projects, and noted projects must go through an application process overseen by Arkansas PACE directors and would require mortgage-holder approval where applicable.
Several justices asked for more information before a final vote. Justice Chris Kendrick asked how many Arkansas counties have adopted CPACE and about the board structure; he requested that representatives who presented to the infrastructure committee return for the final reading to answer those governance questions. Justice Slosky and others raised whether Pulaski County’s enabling ordinance could affect Faulkner County’s participation. Knight said the draft includes options for staggered terms and referred justices to an appendix showing executive-committee and board-structure options.
No vote was taken on Ordinance 26-09 at first reading; the court recorded the reading and moved the measure to second reading next month with requests for additional presentation and clarification.
