Virginia Commercial Property Assessed Clean Energy (C-PACE) Program
Summary
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, secured by a voluntary special assessment lien on the property. The City first discussed the program in a work session on May 13, 2025, with no action taken at that time. On June 10, 2025, the City Council held a public hearing — which drew no public testimony — and then enacted Ordinance No. 2025-04 unanimously (6-0), amending Chapter 90 of the City Code to formally establish the C-PACE Financing Program. The ordinance also approved the 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.
Full history
[12b] Council discussed the Virginia C-PACE program in work session; no action taken.
[7a] 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.