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2 <br /> 1 Commissioner McKee said he served with Mark Marcopolos for one-term and encouraged <br /> 2 those who are interested in elected office to keep pursuing. He said he attended a gathering in <br /> 3 Cedar Grove for the naming of the ball field for Lawrence Vanhook. He said he met with folks <br /> 4 from the southern part of the county for a question-and-answer session on county issues. He <br /> 5 said the Board needs to do a better job of community outreach and considering impacts on various <br /> 6 segments of the county. <br /> 7 Commissioner Carter extended condolences to the family of Mark Marcopolos. She said <br /> 8 she attended the event honoring Lawrence Vanhook. She said that Piedmont Food Processing <br /> 9 Center will host an open house on Thursday, October 23 and encouraged those who are <br /> 10 interested in attending. <br /> 11 Chair Bedford said there will be a community listening session at the Bonnie B. Davis <br /> 12 Center on October 22. <br /> 13 <br /> 14 4. Proclamations/ Resolutions/ Special Presentations <br /> 15 None. <br /> 16 <br /> 17 5. Public Hearings <br /> 18 a. Public Hearing and Resolution for Orange County to Participate in the North Carolina <br /> 19 Commercial Property Assessed Capital Expenditure (C-PACE) Program <br /> 20 The Board held a public hearing, received public comment, closed the public hearing, and <br /> 21 approved a Resolution for Orange County to Participate in the North Carolina Commercial <br /> 22 Property Assessed Capital Expenditure (C-PACE) Program. <br /> 23 <br /> 24 BACKGROUND: At its Business meeting on October 7, 2025, the Orange County Board of <br /> 25 Commissioners adopted a Resolution of Intent to participate in the Commercial Property <br /> 26 Assessed Capital Expenditure (C-PACE) program and scheduled a public hearing on the program <br /> 27 for the Business meeting on October 21, 2025. <br /> 28 <br /> 29 This public hearing and the authorizing resolution are required for Orange County to participate <br /> 30 in C-PACE which allows commercial property owners to finance energy efficiency, renewable <br /> 31 energy, water conservation and resiliency improvements through low-cost, long-term financing. <br /> 32 The County is not providing funding or financing, nor will it perform any billing or collection <br /> 33 functions related to C-PACE projects. <br /> 34 <br /> 35 C-PACE was authorized in North Carolina in July 2024 with the North Carolina General <br /> 36 Assembly's adoption of Senate Bill 802 (Sections 1-3) authorizing the creation of a statewide <br /> 37 Commercial Property Assessed Capital Expenditure (C-PACE) program. This program allows <br /> 38 commercial property owners to finance energy efficiency, renewable energy, water conservation, <br /> 39 and resiliency improvements through a voluntary special assessment on the property. <br /> 40 <br /> 41 C-PACE enables property owners to finance up to 100% of eligible upgrades (not to exceed 35% <br /> 42 of the property's expected stabilized value), with repayment spread over the useful life of the <br /> 43 improvements. This structure often results in lower annual payments and positive cash flow, <br /> 44 providing financial benefits such as reduced energy costs, increased property value, and <br /> 45 potentially more favorable interest rates due to the low-risk tax assessment model. <br /> 46 <br /> 47 Already implemented in 40 states and Washington, D.C., C-PACE is now available in North <br /> 48 Carolina. The program is administered by the Economic Development Partnership of North <br /> 49 Carolina (EDPNC), with property owners working directly with private lenders. Repayment occurs <br /> 50 through a property assessment and lien, which may allow financing over longer terms than <br /> 51 traditional loans. <br />