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1 <br /> INFORMATION ITEM <br /> ORANGE COUNTY <br /> To: Board of County Commissioners <br /> Travis Myren, County Manager <br /> From: Amy Eckberg, Sustainability Programs Manager <br /> Date: September 4, 2025 <br /> Subject: Commercial Property Assessed Capital Expenditure (C-PACE) <br /> Program Overview and Potential Adoption in Orange County <br /> Background: <br /> The State of North Carolina recently authorized a statewide Commercial Property <br /> Assessed Capital Expenditure (C-PACE) program through Senate Bill 802 (July 2024). <br /> The program is administered by the Economic Development Partnership of North <br /> Carolina (EDPNC) and enables local governments to opt in by adopting a resolution of <br /> intent followed by a final resolution after a public hearing. <br /> C-PACE is a financing mechanism that allows commercial property owners to fund <br /> energy efficiency, renewable energy, water conservation, and resiliency improvements <br /> through voluntary property tax assessments. This tool can be used for new construction <br /> or renovations for industrial, agricultural, nonprofit, and multifamily residential properties <br /> with 5 or more units. <br /> Key Features: <br /> • Up to 100% financing of eligible project costs with no upfront payment <br /> required. <br /> • Fixed interest rates and long-term repayment (typically up to 20-30 years). <br /> • Assessment remains with the property—not the owner—if the property is <br /> sold. <br /> • No taxpayer funds are used; financing is provided by private capital <br /> providers. <br /> • Potential for significant utility bill savings, increased property values, and <br /> reduced greenhouse gas emissions. <br /> Recent Developments in North Carolina: <br /> • July 2024: Senate Bill 802 established the statewide C-PACE framework. <br /> 1 <br />