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Agenda Item
K.1) Discussion and consideration to adopt the Commercial Property Assessed Clean Energy (C-PACE) program in Elko County. C-PACE enables property owners to access long-term private financing for eligible improvements, with repayment made through a voluntary assessment on their property tax bill. The program is administered at no cost to the county and supports economic development and sustainability for businesses in the county.
C-PACE programs have been successfully implemented in numerous counties and municipalities across the country. The model allows commercial property owners to finance improvements such as:
High-efficiency HVAC systems
Solar panel installations
Roofing and insulation upgrades
Seismic and storm resiliency measures
Water conservation systems
Repayment is secured through a special property tax assessment, with financing provided by private capital providers. The structure ensures that the financial obligation remains with the property, not the owner, which can be especially beneficial for multi-tenant or investment properties.