Letter: Adopt C-PACE
I am writing to request that Garfield County commissioners adopt the Colorado C-PACE program. C-Pace provides low-cost, long-term private financing for energy efficiency and renewable energy improvements on commercial properties. No public money is expended; all funding is from private sources. When the property changes ownership, debt service is made with property taxes paid by the new owner.
The Colorado Commercial Property Assessed Clean Energy (C-PACE) program was established under C.R.S. §§ 32-20-101. C-PACE facilitates financing for clean energy improvements to commercial, industrial, agricultural, nonprofit and multifamily properties. C-Pace works with the local property assessment mechanism to provide security for repayment of the financing.
When Garfield County opts in to C-PACE, commercial property owners will have affordable financing to make improvements which lower operating costs, increase property values, conserve and generate local energy. When Garfield County opts in, C-PACE will fuel economic development with and create local jobs. Property improvements will keep dollars in our local economy. Many other states have successful track records with their PACE programs. Other Colorado counties have taken the necessary step to opt in to C-PACE; most recently our neighboring Eagle County.
My company, SoL Energy LLC, is just one of many clean energy companies in Garfield County that provides employment and services to property owners to reduce their operating costs and improve the value of their properties. Commercial, municipal and nonprofit property owners in Garfield County will benefit greatly with access to affordable private financing to reduce and stabilize their operating costs for energy.
I ask county commissioners to consider and adopt a resolution authorizing the C-PACE program to be conducted within Garfield County. Complete information on this program may found at http://www.copace.com.