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8 <br /> <br />related measures. More information can be found here: <br />https://www.usgbc.org/about/priorities/resilience. <br />o EDPNC or Department of Commerce will review measures that qualify under <br />other national models for resiliency standards on a case-by-case basis. <br /> <br />Financing for C-PACE assessments may include, but are not limited to: <br />o Hard costs: all costs related to direct installation and construction contracts, including <br />materials, labor, and overhead associated with the qualifying improvements. Costs <br />ancillary to the direct installation and construction contracts for improvements, such as <br />changes to interior walls or ceilings to accommodate new piping or ducting, remediation <br />of asbestos or mold, or other related costs, are also included. <br />o Soft costs: indirect costs that are not considered direct construction costs but are <br />necessary to complete the qualifying improvements. Examples include but are not <br />limited to: <br />o Project management <br />o Application and closing fees (e.g., program administrator fees) <br />o Title reports and credit checks <br />o Financial services (e.g., capital provider fee, project developer fee) <br />o Legal services (e.g., property owner legal, capital provider legal) <br />o Recording taxes and fees, and escrow disbursement fees <br />o Architectural and engineering costs related to the qualifying improvements <br />o Consulting reports (e.g., technical review, energy audit, commissioning reports, <br />measurement and verification, feasibility studies, financial projections, surveys) <br />o Due diligence reports (e.g., appraisal, environmental, physical condition <br />assessments) <br />o Inspection fees <br />o Energy savings performance guaranty or insurance <br />o Building accreditation(s) <br />o Permitting fees <br />o Interest reserves <br />o Capitalized interest, in an amount determined by the owner of the commercial <br />property and the capital provider <br />o Any other fees or costs incurred by the property owner incident to the installation, <br />modification, or improvement on a specific or pro rata basis, as determined by the <br />program administrator <br /> <br />The term of C-PACE financing, excluding any capitalized interest or interest only periods, may <br />not exceed the weighted average useful life of qualifying improvements and begins from first <br />repayment. Installments for repayment of the assessment do not need to be equal. The total C- <br />PACE financing amount shall not exceed 35% of the property’s expected stabilized value with the <br />proposed qualifying improvements installed (N.C.G.S. §160A-239.18(c)). <br /> <br />6. Application and Closing Process <br />The Program has adopted the following documents as part of the Project Application: <br />● Certificate of Qualifying Improvements (Exhibit D) <br />● Checklist and Property Owner Certification (Exhibit E) <br />● Form of Lienholder Consent (Exhibit F) <br />o If not available at time of application, Lienholder Consent may be delivered at close <br />and EDPNC will issue conditional approval if all other requirements are met. <br /> <br />26