Virginia Commercial Property Assessed Clean Energy (C-PACE) Program
The Virginia Commercial Property Assessed Clean Energy (C-PACE) Program is a financing mechanism that allows commercial property owners to access long-term, fixed-rate financing for energy efficiency, renewable energy, water conservation, and resiliency improvements, with repayment secured through a voluntary special assessment lien on the property.
On May 13, 2025, City Council discussed the program in a work session with no action taken. On June 10, 2025, Council held a public hearing — which drew no public testimony — and unanimously enacted Ordinance No. 2025-04 (6-0), amending Chapter 90 of the City Code to establish the C-PACE Financing Program.
The ordinance also approved C-PACE Program Agreement and locality agreement forms and authorized the city manager to execute all implementing documentation. The program will be administered by the Virginia PACE Authority in partnership with Virginia Energy.
History
Filled dots are actions on this topic; open dots are mentions.
- May 13, 2025City Council · item 12bWork Session: Virginia Commercial Property Assessed Clean Energy (C-PACE) Program
Council discussed the Virginia C-PACE program in work session; no action taken.
- Jun 10, 2025City Council · item 7aPublic hearing and Council action on an ordinance for the Virginia Commercial Property Assessed Clean Energy (C-PACE) program
Council approved the C-PACE program, authorizing long-term fixed-rate financing for energy efficiency, renewable energy, water conservation, and resiliency improvements secured by a voluntary special assessment lien, administered by the Virginia PACE Authority in partnership with Virginia Energy.
passedEnact Ordinance No. 2025-04 creating the C-PACE Financing Program, approve C-PACE Program Agreement and locality agreement forms, and authorize the city manager to execute implementing documentation.✓ Amos✓ Bates✓ Hall✓ Hardy-Chandler✓ McQuillen✓ Peterson
Discussed alongside
Topics that come up in the same meetings.