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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: October 21, 2025 <br /> Action Agenda <br /> Item No. 5-a <br /> SUBJECT: Public Hearing and Resolution for Orange County to Participate in the North <br /> Carolina Commercial Property Assessed Capital Expenditure (C-PACE) <br /> Program <br /> DEPARTMENT: County Manager <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> October 7, 2025 Approved Resolution of Amy Eckberg, Sustainability Programs <br /> Intent to Adopt C-PACE Manager; (919) 245-2626 <br /> Proposed Resolution to Adopt C-PACE <br /> C-PACE Legislation — Senate Bill 802 <br /> North Carolina C-PACE Program <br /> Guidelines and Toolkit <br /> Presentation <br /> PURPOSE: To hold a public hearing, receive public comment, close the public hearing, and <br /> consider action on a Resolution for Orange County to Participate in the North Carolina <br /> Commercial Property Assessed Capital Expenditure (C-PACE) Program. <br /> BACKGROUND: At its Business meeting on October 7, 2025, the Orange County Board of <br /> Commissioners adopted a Resolution of Intent to participate in the Commercial Property <br /> Assessed Capital Expenditure (C-PACE) program and scheduled a public hearing on the program <br /> for the Business meeting on October 21, 2025. <br /> This public hearing and the authorizing resolution are required for Orange County to participate <br /> in C-PACE which allows commercial property owners to finance energy efficiency, renewable <br /> energy, water conservation and resiliency improvements through low-cost, long-term financing. <br /> The County is not providing funding or financing, nor will it perform any billing or collection <br /> functions related to C-PACE projects. <br /> C-PACE was authorized in North Carolina in July 2024 with the North Carolina General <br /> Assembly's adoption of Senate Bill 802 (Sections 1-3) authorizing the creation of a statewide <br /> Commercial Property Assessed Capital Expenditure (C-PACE) program. This program allows <br /> commercial property owners to finance energy efficiency, renewable energy, water conservation, <br /> and resiliency improvements through a voluntary special assessment on the property. <br /> C-PACE enables property owners to finance up to 100% of eligible upgrades (not to exceed 35% <br /> of the property's expected stabilized value), with repayment spread over the useful life of the <br /> improvements. This structure often results in lower annual payments and positive cash flow, <br /> providing financial benefits such as reduced energy costs, increased property value, and <br /> potentially more favorable interest rates due to the low-risk tax assessment model. <br />