As of December 27, 2022, Yellowstone County approved Resolution 22-86 to establish a Yellowstone County CPACE Program. C-PACE stands for Commercial Property Assessed Capital Enhancement. The program provides commercial building owners with a way to finance energy and water efficiency improvements as well as renewable energy generation.
how does the program work?
A wide range of of improvements are eligible for C-PACE financing allowing it to finance up to 35% of new construction projects and 100% of retrofit projects. The program is an attractive alternative to higher-interest and shorter-term debt and allows for a building owner to put in high efficiency systems at no net cost. The C-PACE loan is repaid annually through a special payment that is collected by the county as part of the real estate tax bill for that property.
The C-PACE program is set up nicely to be be a tool that benefits many downtown properties. C-PACE is a County-wide tool so feel free to share the news and information with any Yellowstone County commercial property owner.
- High efficiency heating, ventilating, and air-conditioning (“HVAC”) systems
- Solar energy systems
- High efficiency chillers, boilers, and furnaces
- Heigh efficiency water heating systems
- Energy management systems and controls
- Distributed generation systems
- High efficiency lighting system upgrades
- Building enclosure and envelope improvements
- Water conservation and wastewater recovery and reuse system
- Combustion and burner upgrades
- Heat recovery and steam traps
- Water management systems and controls (“indoor and outdoor”)
- High efficiency irrigation equipment
Background of C-PaCe in Montana
C-PACE programs gained traction in other Montana Counties in 2022 before making its way to our region. Below is a flyer with more information on CPACE as a tool to be utilized as well as the contact info for Montana Facility Finance Authority, the designated entity who manages this program.
CPACE as a program was introduced to the Montana 67th State Legislature on Oct 21, 2020; it passed the Senate on Feb 18, 2021, it then passed the House on Apr 21, 2021 and finally signed into Law on May 10, 2021.