Unlocking Resources for Resilience and Energy Savings Join Us for a C-PACE Info Session on March 18! – The City of Asheville (.gov)

Report on the Launch of North Carolina C-PACE Program by City of Asheville and Buncombe County

The City of Asheville and Buncombe County have introduced the North Carolina Commercial Property Assessed Capital Expenditure (C-PACE) program. This innovative financing mechanism aims to support commercial property owners and developers in implementing upgrades that promote energy efficiency, water conservation, and resiliency. The initiative aligns closely with several Sustainable Development Goals (SDGs), including SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), and SDG 13 (Climate Action).

Information Session Details

To facilitate understanding and utilization of the C-PACE program, a free information session will be held with no registration required:

• Date and Time: March 18, 2026, from 9:00 to 10:00 AM
• Location: 200 College St, Asheville, 1st Floor Conference Room
• Parking: Validated parking available at 164 College St. parking deck

Overview of C-PACE Financing

C-PACE provides long-term, private capital financing secured by a voluntary assessment and lien on commercial, industrial, agricultural, and multi-family properties. This financing tool addresses a critical barrier to sustainable development by reducing upfront costs associated with building improvements.

Key Benefits of C-PACE Financing

1. 100% Financing: Covers both hard and soft costs, including audits and engineering, minimizing initial investment requirements.
2. Improved Cash Flow: Financing terms extend 20–30 years, corresponding to the lifespan of improvements, often resulting in energy savings that exceed repayment amounts.
3. Transferability: The repayment obligation is tied to the property and transfers automatically to new owners upon sale.
4. Increased Property Value: Enhancements in energy efficiency, resiliency, renewable energy, and water conservation improve building longevity and attract tenants by lowering utility costs.

Eligible Improvements Under C-PACE

The program supports a broad range of sustainable property improvements that contribute to multiple SDGs:

• Energy Efficiency: Installation of high-efficiency lighting, HVAC systems, insulation, and energy-efficient windows (supports SDG 7).
• Renewable Energy: Deployment of solar photovoltaic (PV), wind, and geothermal systems (supports SDG 7 and SDG 13).
• Resiliency: Flood mitigation, stormwater management, wind resistance enhancements such as roof reinforcements, and indoor air quality improvements (supports SDG 11 and SDG 13).
• Water Conservation: Implementation of water-saving fixtures and measures to ensure safe drinking water (supports SDG 6).

Program Administration and Eligibility

The Economic Development Partnership of North Carolina (EDPNC) administers the C-PACE program, with local government authorization and funding from private capital providers.

• Eligibility Criteria: Property owners must be current on taxes and mortgages.
• Lienholder Consent: Written consent from all existing mortgage holders is mandatory prior to financing.
• Financing Limits: Financing is available up to 35% of the property’s assessed value.

Additional Resources and Contact

For stakeholders unable to attend the information session, comprehensive program details and toolkits are accessible via the EDPNC website. The City of Asheville and Buncombe County encourage participation to advance sustainable development goals and support clean energy initiatives within the community.

1. Sustainable Development Goals (SDGs) Addressed or Connected

1. SDG 7: Affordable and Clean Energy
   • The article discusses financing for energy efficiency and renewable energy upgrades, directly contributing to clean energy access and use.
2. SDG 6: Clean Water and Sanitation
   • Water conservation and safe drinking water improvements are part of the qualifying projects under C-PACE.
3. SDG 11: Sustainable Cities and Communities
   • Resiliency upgrades such as flood mitigation and stormwater management enhance urban sustainability and safety.
4. SDG 13: Climate Action
   • Energy efficiency, renewable energy, and resiliency measures support climate change mitigation and adaptation efforts.
5. SDG 9: Industry, Innovation and Infrastructure
   • The program promotes innovative financing tools and infrastructure improvements in commercial properties.

2. Specific Targets Under Those SDGs

1. SDG 7 Targets
   • Target 7.3: By 2030, double the global rate of improvement in energy efficiency.
   • Target 7.2: Increase substantially the share of renewable energy in the global energy mix.
2. SDG 6 Targets
   • Target 6.4: By 2030, substantially increase water-use efficiency across all sectors.
   • Target 6.1: Achieve universal and equitable access to safe and affordable drinking water.
3. SDG 11 Targets
   • Target 11.5: Reduce the number of deaths and the number of people affected by disasters, including water-related disasters.
   • Target 11.6: Reduce the adverse per capita environmental impact of cities.
4. SDG 13 Targets
   • Target 13.1: Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters.
5. SDG 9 Targets
   • Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable.

3. Indicators Mentioned or Implied in the Article

1. Energy Efficiency and Renewable Energy Indicators
   • Percentage of commercial properties upgraded with energy-efficient lighting, HVAC, insulation, and renewable energy systems (solar, wind, geothermal).
   • Energy savings exceeding financing payments, implying measurement of energy consumption reductions.
2. Water Conservation Indicators
   • Implementation rate of water-saving fixtures and measures ensuring safe drinking water in commercial properties.
3. Resiliency Indicators
   • Number of properties with flood mitigation, stormwater management, and wind resistance improvements.
   • Improvement in indoor air quality measures.
4. Financial and Programmatic Indicators
   • Amount of private capital invested through C-PACE financing.
   • Percentage of property value financed (up to 35%).
   • Number of commercial property owners utilizing C-PACE financing.

4. Table: SDGs, Targets and Indicators

Source: ashevillenc.gov