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<br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date:October 7, 2025 <br /> Action Agenda <br /> Item No.8-h <br /> <br />SUBJECT: Adoption of a Resolution of Intent for Orange County to Participate in the North <br />Carolina Commercial Property Assessed Capital Expenditure (C-PACE) <br />Program <br /> <br />DEPARTMENT: County Manager <br /> <br /> <br />ATTACHMENT(S): <br />Resolution of Intent to Adopt C-PACE <br />C-PACE Legislation – Senate Bill 802 <br />North Carolina C-PACE Program <br />Guidelines and Toolkit <br /> <br />INFORMATION CONTACT: <br />Amy Eckberg, Sustainability Programs <br />Manager; (919) 245-2626 <br /> <br />PURPOSE: To adopt a Resolution of Intent declaring Orange County’s intention to participate in <br />the statewide C-PACE Program and authorizing staff to proceed with the required public notice <br />and public hearing. <br /> <br />BACKGROUND: In July 2024, the North Carolina General Assembly adopted Senate Bill 802 <br />authorizing the creation of a statewide Commercial Property Assessed Capital Expenditure (C- <br />PACE) program. This program allows commercial property owners to finance energy efficiency, <br />renewable energy, water conservation, and resiliency improvements through a voluntary special <br />assessment on the property. Staff previously provided the Board with an Information Item on this <br />program as part of the Board’s September 4, 2025 Business meeting agenda materials. <br /> <br />C-PACE enables property owners to finance up to 100% of eligible upgrades, with repayment <br />spread over the useful life of the improvements. This structure often results in lower annual <br />payments and positive cash flow, providing financial benefits such as reduced energy costs, <br />increased property value, and potentially more favorable interest rates due to the low-risk tax <br />assessment model. <br /> <br />Already implemented in 40 states and Washington, D.C., C-PACE is now available in North <br />Carolina. The program is administered by the Economic Development Partnership of North <br />Carolina (EDPNC), with property owners working directly with private lenders. Repayment occurs <br />through a property assessment and lien, which may allow financing over longer terms than <br />traditional loans. <br /> <br />For Orange County property owners to participate, the County must first adopt a Resolution of <br />Intent, followed by a public hearing and adoption of a final Authorizing Resolution. If adopted, the <br />County’s responsibilities will be limited to education and outreach, executing agreements, <br />recording liens, and coordinating with EDPNC – requiring minimal administrative effort. The <br />County will not provide funding, financing, billing, or collections for C-PACE projects. <br /> <br />1