Carlin council appoints Nevada Clean Energy Fund to run C-PACE program

The Carlin City Council unanimously appointed the Nevada Clean Energy Fund as the city’s administrator for a Commercial Property Assessed Clean Energy program on Feb. 25.

Greg Zegas, representing the Fund, told the council C-PACE is “a unique financing structure to support commercial properties in Carlin,” able to finance up to 100% of project costs at below-market interest rates and secured by a special assessment that is senior to other liens. Clay Reid, also with the Fund, said the program is useful for renovations such as leaky roofs or broken HVAC systems that property owners cannot otherwise afford.

Zegas said eligible projects include energy efficiency, renewable energy, resiliency measures and water-efficiency upgrades, and that the Fund coordinates all parties so the local jurisdiction’s role is limited to enabling the assessment recordation. He said Nevada’s direct-billing approach means loan repayments are collected by the lender rather than requiring changes to the city’s tax-collection processes. The Fund said it would prepare a Carlin program guide and launch a website shortly after approval.

Mayor Cameron Kinney said he supported the program and believed it would help retrofit existing buildings and assist businesses planning to locate in Carlin. Councilperson Lyndsie Whigham moved to appoint the Nevada Clean Energy Fund as Carlin’s C-PACE administrator; Councilperson Joel Nalley seconded the motion. The council voted unanimously to approve the appointment.

Next steps the presenters described include drafting a program guide, launching an informational website and beginning outreach to potentially interested property owners. If the Fund proceeds, the city and Fund will sign a contract modeled after a prior agreement used in Wells, Nev., with the jurisdiction name updated to Carlin.