Colorado C-PACE Services to Counties & Governments
The Colorado New Energy Improvement District (NEID), an independent body corporate and politic of the State of Colorado was established under C.R.S. § 32-20-104(1). 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, non-profit and multifamily (with 5 or more units) properties by utilizing the local property assessment mechanism to provide security for repayment of the financing.
Under C.R.S. § 32-20-105(1), the purpose of NEID is “to help provide the special benefits of new energy improvements to owners of eligible real property who voluntarily join the district by establishing, developing, financing, and administering a new energy improvement program through which the district can provide assistance to such owners in completing new energy improvements”.
C.R.S. § 32-20-105(3) directs NEID to “establish, develop, finance, and administer” the Colorado C-PACE program but stipulates that the C-PACE program may only operate in a given county if the board of county commissioners of the county has adopted a resolution authorizing the NEID to conduct the program within the county.
To facilitate counties participation in the Colorado C-PACE program, NEID has prepared the NEID-County Participation Agreement, which outlines the terms of the program.
Contact us to learn how Colorado C-PACE is supporting counties participation in the C-PACE program. C-PACE projects improve the local commercial and industrial building stock. Moreover, the Colorado C-PACE program advances public policy goals to:
- Increase local jobs
- Reduce greenhouse gas emissions
- Increase renewable energy mix