Virginia Commercial Property Assessed Clean Energy (C-PACE) Program
The Virginia Commercial Property Assessed Clean Energy (C-PACE) Program is a financing mechanism that provides commercial property owners with long-term, fixed-rate financing for energy efficiency, renewable energy, water conservation, and resiliency improvements.
The financing is secured by a voluntary special assessment lien on the property and is administered by the Virginia PACE Authority in partnership with Virginia Energy. The City Council first discussed the program in a work session on May 13, 2025, with no action taken at that time. On June 10, 2025, following a public hearing that drew no public testimony, the Council unanimously enacted Ordinance No.
2025-04 (6-0), amending Chapter 90 of the City Code to formally create the C-PACE Financing Program. The ordinance also approved C-PACE Program Agreement and locality agreement forms and authorized the city manager to execute all implementing documentation.
History
Filled dots are actions on this topic; open dots are mentions.
- May 13, 2025City Council · item 12bWork Session: Virginia Commercial Property Assessed Clean Energy (C-PACE) Program
Council discussed the Virginia C-PACE program in work session; no action taken.
- Jun 10, 2025City Council · item 7aPublic hearing and Council action on an ordinance for the Virginia Commercial Property Assessed Clean Energy (C-PACE) program
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.