Agenda 10-21-2025; 5-a - Public Hearing and Resolution for Orange County to Participate in the North Carolina Commercial Property Assessed Capital Expenditure (C-PACE) Program

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3 RES-2025-050 ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION DECLARING INTENT OF THE COUNTY OF ORANGE, NORTH CAROLINA TO PARTICIPATE IN THE COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE (C-PACE) PROGRAM WHEREAS, Article 106 of Chapter 160A of the General Statutes of North Carolina, as amended (the "C- PACE Act"), authorizes the establishment of a statewide commercial property assessed capital expenditure (C-PACE) program (the "C-PACE Program")that local governments may voluntarily join; and WHEREAS, the C-PACE Act authorizes the North Carolina Department of Commerce (the "Program Sponsor")to oversee the C-PACE Program and requires the Economic Development Partnership of North Carolina, Inc., a North Carolina nonprofit corporation (the "Statewide Administrator"), to administer the C-PACE Program and, in support thereof, provide certain administrative services described in North Carolina General Statute § 160A-239.14; and WHEREAS, the C-PACE Act and C-PACE Program permit willing owners of commercial, industrial, or agricultural real property, or residential real property with five or more dwelling units located in the jurisdictional boundaries of participating local governments("Qualifying Commercial Property")to obtain direct financing ("C-PACE Financing") from a "capital provider" (as further defined in North Carolina General Statute § 160A-239.12(1), "Capital Provider") for "qualifying improvements" (as further defined in North Carolina General Statute § 160A-239.12(14), "Qualifying Improvements") approved by the Program Sponsor, including energy efficiency measures, resiliency measures, renewable energy measures, and water conservation measures; and WHEREAS, under the C-PACE Act, C-PACE Financing shall be secured by a (a) voluntary assessment imposed on Qualifying Commercial Property by a local government for the total amount of such financing (the "C-PACE Assessment")and (b) lien on such Qualifying Commercial Property until the financing is paid in full (the "C-PACE Lien"); and WHEREAS, the County of Orange, North Carolina, ("The County") acting by and through its Board of Commissioners, desires to participate in the CPACE Program and, in support thereof, adopt a resolution setting forth the items required by North Carolina General Statute § 160A-239.15(a); NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Orange, North Carolina as follows: Section 1. The County hereby authorizes (a) the C-PACE Program to operate within its jurisdictional boundaries and (b)the Statewide Administrator to provide the administrative services described in North Carolina General Statute § 160A-239.14. Section 2. The County intends to (a) authorize C-PACE Financing within the jurisdictional boundaries of the County,(b)authorize the imposition of C-PACE Assessments to secure repayment of C-PACE Financing, (c) assign the C-PACE Lien to Capital Providers providing C-PACE Financing and (d) delegate billing, collection, and enforcement duties for the C-PACE Assessment and C-PACE Lien to Capital Providers.