County hears CPACE presentation as state toolkit for commercial capital projects
State CPACE program (Commercial Property Assessed Capital Expenditures) was presented as an opt‑in state program that allows private property owners to access long‑term financing secured by a CPACE lien; county staff will move the resolution of intent to public hearing with a later resolution to join the program.
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Representatives from EDP&C described the Commercial Property Assessed Capital Expenditures (CPACE) program established by 2024 state legislation and explained why the county might opt into the toolkit. The program lets private commercial property owners obtain longer‑term financing for capital expenditures—energy efficiency, resiliency, water conservation and other improvements—secured by a CPACE lien; lenders may require consent from existing mortgage holders. The program manager said participation requires two local resolutions (a resolution of intent and a final resolution to adopt) and a public hearing process.
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