Forsyth County staff recommends opting into statewide CPACE program to expand commercial financing options
County staff recommended adopting a resolution of intent to opt Forsyth County into the statewide CPACE program, a financing tool that lets commercial property owners obtain private financing secured by a property lien; staff emphasized the county records the lien but bears no loan liability.
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Helena Fiore of the Community Economic Development department briefed the board on the Commercial Property Assessed Capital Expenditure (CPACE) program and recommended the county adopt a resolution of intent to opt in. Fiore said the program enables commercial property owners to obtain private CPACE loans for qualifying energy and resilience upgrades; the loan is between the property owner and a private lender and is secured by a senior lien on the property. "There is no financial liability or legal liability for the county in a CPACE loan," Fiore said, describing the county's role as recording the lien in the register of deeds office.
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