Agenda 10-07-2025; 8-h - Adoption of a Resolution of Intent for Orange County to Participate in the North Carolina Commercial Property Assessed Capital Expenditure (C-PACE) Program

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Senate Bill 802 Session Law 2024-44 Page 3 c. Renewable energy measure. – A renewable energy resource as defined in G.S. 62-133.8. d. Water conservation measure. – An equipment, physical component, or program change implemented to decrease water consumption or demand or to address safe drinking water. (15) Statewide administrator. – The Economic Development Partnership of North Carolina. "§ 160A-239.13. Statewide C-PACE Program – authorization. (a) The State authorizes a statewide C-PACE Program in which any local government may participate. (b) The program sponsor is hereby authorized under this Article to oversee the C-PACE Program. "§ 160A-239.14. Statewide C-PACE Program – administration. (a) In the administration of the C-PACE Program, the statewide administrator shall do the following: (1) Prepare a C-PACE toolkit in consultation with stakeholders and local governments and subject to approval by the program sponsor prior to accepting applications for C-PACE financing, which shall include, at a minimum, all of the following: a. A form of assessment agreement to be used between a local government and property owner specifying the terms of the C-PACE assessment. b. A form of notice of C-PACE assessment that identifies the qualified commercial property subject to the C-PACE assessment and the property owner consenting to the C-PACE assessment. c. A form of assignment of the C-PACE lien from the local government to the capital provider that cross-references the registry book and page number of the notice C-PACE assessment giving rise to the lien. d. A form of consent to a C-PACE assessment by the holder of a mortgage, deed of trust, or other lien upon the qualifying commercial property. e. A form of project application with checklist requirements and corresponding documentation that will be required by the statewide administrator to approve a project application. (2) Impose fees to offset the actual and reasonable costs of administering the C-PACE Program, including: a. An application fee not to exceed seven hundred fifty dollars ($750.00). b. A processing fee assessed to the property owner whose application for C-PACE financing is approved, which shall be one percent (1%) of the total amount financed but shall not be more than twenty-five thousand dollars ($25,000). (3) Establish the process for reviewing and evaluating applications, which shall, at a minimum, require the following to be provided or demonstrated: a. For an existing building: (i) where renewable energy, energy efficiency, or water conservation measures are proposed, an energy analysis by a licensed engineering firm or engineer or another qualified professional listed in the C-PACE toolkit stating that the proposed qualifying improvements will result in more efficient use or conservation of energy that meets or exceeds then-existing State and federal building codes and efficiency standards or conservation codes, more efficient use or conservation of water, the reduction of 7