Date: 10/10/2013

Final
CPACE and Water Efficiency Improvements

WATER RESOURCES REVIEW COMMITTEE

Votes: View--> Action Taken:
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04:46 PM -- CPACE and Water Efficiency Improvements

Paul Scharfenberger, Colorado Energy Office, discussed the Commercial Property Assessed Clean Energy District (C-PACE) program that was authorized by Senate Bill 13-212 (Attachment M). This program uses the existing public-sector structures of improvement and assessment districts to create a voluntary statewide district for funding energy projects. If counties choose to opt-in to the district, commercial property owners will be able to place a property assessment on a property in order to finance energy improvements. The debt issued to finance the energy improvements is secured by a property lien that is senior to all commercial liens on the property, including mortgages. The existing property tax collection system is used to collect debt payments from the property owner and repay the project costs, increasing investor security and improving financial terms. Mr. Scharfenberger responded to questions from the committee how the C-PACE program may be expanded to finance water efficiency improvements and whether this expansion would require a statutory change.

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