…Title
Overview of Proposed Incorporated County of Los Alamos Ordinance Regarding the Commercial Property Assessed Clean Energy (C-PACE) Program
…Recommended Action
I move that the Environmental Sustainability Board recommend Council approve the C-PACE Ordinance.
…Body
The Commercial Property Assessed Clean Energy (C-PACE) Program is a financing structure enabled by state statute and local ordinance that provides eligible property owners with access to long-term fixed-rate financing for a range of energy efficiency, renewable energy, water efficiency, and resiliency improvements. The program allows local governments to secure the financing via a special improvement assessment on the improved property.
New Mexico first enacted C-PACE legislation in 2009, later followed by the Improvement Special Assessment Act enacted in 2023 via House Bill 228, which authorized counties to impose, administer and disburse special assessments to encourage the development of certain property improvements (also called C-PACE financing). Eligible properties are any privately-owned commercial, agricultural, industrial, or multi-family real property of five or more dwelling units located within the boundaries of the region (including properties owned by a nonprofit organization).
County and municipal governments must pass an ordinance opting into the statewide program in order for properties within a municipality to be eligible for program financing. The Los Alamos County Attorney's Office has drafted an ordinance to be introduced into the Economic Development section of the County Code.
Bernalillo County, the City of Albuquerque, Santa Fe County, and Taos County have passed ordinances. The City of Santa Fe and the counties of San Juan, Dona Ana, Sandoval, Valencia, McKinley, and Curry are working on ordinances.
Eric Christensen, with Adelante Consulting, is here to provide an overview of the C-PACE Program. Adelante Consulting is the contracted program administrator for the State...
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