The program provides a financing mechanism to encourage the installation of renewable energy systems, energy efficiency improvements, and resiliency improvements
VANCOUVER – The Clark County Council last week approved an ordinance to implement a commercial property assessed clean energy and resiliency (C-PACER) program. The program provides a financing mechanism to encourage the installation of renewable energy systems, energy efficiency improvements, and resiliency improvements on large multi-family residential, industrial, agricultural and commercial properties.
Eligible improvements must reduce greenhouse gas emissions, reduce water consumption, reduce energy consumption, improve seismic resiliency, reduce stormwater or pollution, or reduce the risk of wildfire, flooding or other natural- or human-caused disaster.
C-PACER programs allow a property owner to finance the up-front cost of these improvements on a property and then pay it back over time through a property assessment. Collection and enforcement of the C-PACER lien and financing payments, including foreclosure, is the responsibility to the capital provider. An engineer or other qualified professional must certify that the improvements qualify for the program; county staff will not independently make this determination.
To obtain C-PACER financing, the property owner must submit an application to Clark County Community Development showing the proposed improvements, certification that the improvements qualify for the financing, and other requirements. The county will then record each C-PACER lien in real property records. The lien will then run with the land.
“The county is excited to implement a program that will benefit local property owners and simultaneously encourage positive environmental building practices,” said County Chair Eileen Quiring O’Brien.
The Washington State Legislature in 2020 approved HB 2405 authorizing C-PACER programs in the state.
More information is on the county’s website at https://clark.wa.gov/sites/default/files/media/document/2021-10/2021-10-04.pdf.
Information provided by Clark Co. WA Communications.
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