Public Hearing on C-PACE Financing Program

Published on February 19, 2025

The Los Alamos County Council will hold a public hearing on Tuesday, Feb. 25, 2025, at 6 p.m. in Council Chambers, 1000 Central Ave., to consider an ordinance establishing the Commercial Property Assessed Clean Energy (C-PACE) program. A virtual attendance option will be available via Zoom.

The proposed ordinance, presented by the Department of Public Utilities, would enable an alternative financing option for commercial property owners seeking to make energy-efficient, water-saving, or resiliency-related improvements. Interested individuals are encouraged to attend the meeting and provide public comment or submit feedback using the County’s eComment tool on the agenda at losalamos.legistar.com once it is published on Friday, Feb. 21.

C-PACE provides property owners with access to private-sector financing to cover direct and indirect costs related to reducing energy or water consumption, generating renewable energy, or improving building resiliency. The program applies to privately owned commercial, agricultural, industrial, and multi-family properties with five or more dwelling units, including properties owned by nonprofit organizations.

Since the passage of the New Mexico Improvement Special Assessment Act in 2023, counties and municipalities across the state have had the opportunity to opt into the C-PACE program. Nationwide, over 90 C-PACE lenders have provided more than $7 billion in financing for over 3,300 commercial properties. The New Mexico C-PACE program is working to expanding lending capabilities to local financial institutions and credit unions.

If adopted, the ordinance would enable eligible property owners in Los Alamos County to access private-sector funding without the use of public dollars or subsidies. C-PACE financing is structured as a special assessment secured by the property itself, rather than a personal guarantee, and offers fixed interest rates with repayment terms of up to 30 years. The program administrator fee, paid at closing by the borrower or lender, sustains the program without reliance on federal funding.

The benefits of C-PACE include:

For property owners and developers: Covers 100% of project costs, reduces up-front expenses, increases property value, and lowers operating costs through energy efficiency. The special assessment is transferable upon property sale.
For the County: Supports economic development by increasing the value of local building stock, improving building resiliency, reducing carbon footprints, and potentially increasing property tax revenues.

Adopting the C-PACE program places no financial burden on the County of Los Alamos. C-PACE would provide an additional funding structure from which local commercial entities could improve building performance, comfort for occupants and aesthetics to customers.

For more information, visit https://edd.newmexico.gov/communities/c-pace/, contact Eric Christensen at echristensen@adelanteconsulting.com, or attend the public hearing on Feb. 25.