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Durham County votes to join North Carolina'wide CPACE program to finance commercial energy upgrades
Summary
The Durham County Board of Commissioners adopted a resolution authorizing participation in the state Commercial Property Assessed Clean Energy (CPACE) program, a financing option that ties project repayment to property assessments and aims to support energy efficiency, renewables and resilience upgrades for commercial and nonprofit properties.
Durham County commissioners on Tuesday voted unanimously to opt into North Carolina's Commercial Property Assessed Clean Energy (CPACE) program, a financing tool that ties energy and resilience project repayment to a property lien and is intended to make long'payback investments more affordable for commercial and nonprofit owners.
Tobin Freed, Durham County's sustainability manager, described CPACE during a required public hearing as a way to "allow commercial and nonprofit entities to access financing for energy efficiency, renewable energy, and resilience projects on their properties." He told the board the program is administered by private capital providers and a statewide administrator and that "joining the statewide CPACE program does not expose the county to any financial or legal liability." (Tobin Freed)
Why it matters: CPACE can help lower operating costs for qualifying properties, encourage upgrades that reduce greenhouse gas emissions, and support resilience to extreme weather; staff said it also can attract investment and increase long'term tax value of the building stock. The county will not be the lender or the administrator; local participation primarily requires recording the assessment lien and reimbursing some modest execution costs.
What the board decided: After a brief exchange in which commissioners asked for examples and whether other North Carolina jurisdictions had joined, the board closed the hearing and voted to adopt the resolution to participate in the statewide program. Commissioner Burton moved adoption and Commissioner Jacobs seconded; the motion passed by voice vote 4'0to'0.
Details from staff: Freed said the program is new locally; he cited a Raleigh parking deck project proposing electric vehicle chargers as an early applicant and noted that the statewide framework was crafted to reduce administrative burden on local governments. He added that local governments joining the statewide CPACE program will be reimbursed "for actual and reasonable costs associated with executing documents related to CPACE assessments up to $500 per project." (Tobin Freed)
Next steps: The board approved the resolution after the public hearing; staff indicated private capital providers and the Economic Development Partnership of North Carolina will assist interested property owners with applications. There was no public opposition recorded during the hearing, and commissioners indicated no additional local administrative steps beyond recording liens and the limited execution work.
The board passed the motion at the meeting on May 26; staff said they will move forward with the administrative steps needed for property owners to begin applying under the statewide framework.
