COUNTY News:

Commercial property owners and tenants can learn more about the Commercial Property Assessed Clean Energy (C-PACE) program, 6 to 7 p.m. Tuesday, April 22. 

The meeting will be held at the Los Alamos Small Business Center, LACDC/Chamber Suite at 190 Central Park Square. Attendees can also participate virtually via Zoom, information below. The presentation will be recorded.

C-PACE provides property owners with access to private-sector financing to cover direct and indirect costs related to reducing energy or water consumption, generating renewable energy, or improving building resiliency. The program applies to privately owned commercial, agricultural, industrial, and multi-family properties with five or more dwelling units, including properties owned by nonprofit organizations.

The passage of the New Mexico Improvement Special Assessment Act in 2023 opened the opportunity for counties and municipalities across the state to opt into the C-PACE program.

Nationwide, over 90 C-PACE lenders have provided more than $7 billion in financing for more than 3,300 commercial properties. The New Mexico C-PACE program is working to expand lending capabilities to local financial institutions and credit unions.

The program enables eligible property owners in Los Alamos County to access private-sector funding without the use of public dollars or subsidies. C-PACE financing is structured as a special assessment secured by the property itself, rather than a personal guarantee, and offers fixed interest rates with repayment terms of up to 30 years. The program administrator fee, paid at closing by the borrower or lender, sustains the program without reliance on federal funding.

Benefits of C-PACE

For property owners and developers: Covers 100% of project costs, reduces up-front expenses, increases property value, and lowers operating costs through energy efficiency.

The special assessment is transferable upon property sale.

For Los Alamos County: Supports economic development by increasing the value of local building stock, improving building resiliency, reducing carbon footprints, and potentially increasing property tax revenues.

For more information on C-PACE, visit here. 

Please use the following information to join the Zoom for C-PACE Meeting with Property Owners:

Zoom link: https://ladpu.com/CPACEzoom
Meeting ID: 836 3766 1165
Passcode: 529838