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CPACE
• Announcements
What is C-PACE?
How is C-PACE Different?
C-PACE in Oklahoma
INCOG's Role
Get Involved
C-PACE OK Sponsorship
C-PACE Toolkit from
  US Department of Energy
Contact for More Information
Metropolitan Environmental Trust (M.e.t.)


C-PACE Sponsors


Founding Platinum Sponsor




Founding Silver Sponsor

 

 

 


 

 

Commercial Property Assessed Clean Energy (C-PACE)

Announcements
Guidance Manual Public Comment Period is Open
As we approach the launch of Oklahoma C-PACE, we invite your comments on our program Guidance Manual. We will accept comment on Guidance Manual through August 31, 2020. Please email any comments or feedback to ajaynes@incog.org or jcoleman@paceservicing.com by August 31. Please note this document is not final. Changes may be made prior to program launch.

The full text of the draft Guidance Manual is available here.

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What is C-PACE?
Commercial Property Assessed Clean Energy (C-PACE) is a financing mechanism designed to encourage energy and water efficiency improvements, renewable energy systems, and building resiliency projects for commercial properties. As a voluntary, open-market financing model, C-PACE allows commercial property owners to secure private low-interest, long-term loans for eligible energy improvements whereby the loan is placed on the property as an assessment and is repaid through the county property tax system. The financing arrangement then remains with the property even if it is sold, facilitating long-term investments in building performance. The longer-term payback allows the efficiency improvements to pay for themselves over time.

Around the country, C-PACE financing has been used for HVAC upgrades, boilers, chillers and furnaces, automated building controls, high efficiency lighting, building envelopes (insulation, windows, etc.), low-flow fixtures, solar, geothermal, electric vehicle charging stations, and other energy improvement projects. Oklahoma’s C-PACE project eligibility and other program guidelines are currently being developed. Program completion and launch in Tulsa County is expected no later than Fall 2020.

C-PACE encourages economic development through private investment in smart energy solutions for Oklahoma’s commercial buildings.

Frequently Asked Questions

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How is C-PACE Different?
Unlike traditional loans for building improvements, C-PACE can provide up to 100% financing for program-eligible improvements. C-PACE loans are tied to the building’s county property tax record as an assessment and repaid as an additional line item on the property tax bill. No down payment is required nor is the property owner required to give a personal guarantee on the loan. The lenders enter into loan contracts directly with the property owners and the county bills the annual payment on the property tax statement and remits that payment to the original lender. If the property is sold, any remaining assessment can be passed to the new property owner.

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C-PACE in Oklahoma
Oklahoma’s C-PACE enabling legislation was effective November 1, 2019. Tulsa County became the first in Oklahoma to pass a resolution in fall 2019 expressing intent to implement C-PACE and established a pilot program under which two C-PACE loans were made. In the pilot phase, it was determined that the law needed more clarification. In 2020, during the shortest legislative session in state history, this C-PACE amendment was approved by the legislature and signed by the Governor. The new law will take effect on November 1, 2020.

It is INCOG’s goal to work with Tulsa and other counties interested in establishing C-PACE programs across the state to have these programs up and running in the fourth quarter of 2020.

To create an active program, counties must pass resolutions authorizing C-PACE voluntary special assessment liens and establish the program. INCOG is working with Tulsa County and other partners throughout the state to create a C-PACE Program Administrative Platform template that will work statewide for any county choosing to initiate a program. Consistency in policies, procedures and guidelines throughout Oklahoma assures streamlined processes for counties and program participants. The intent is to have C-PACE active in the fourth quarter of 2020 for counties with interest in establishing this program.

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INCOG's Role
Partnering with Tulsa County, Oklahoma Department of Commerce, and Oklahoma Office of the Secretary of Energy & Environment, INCOG has stepped forward to lead the development of an Oklahoma C-PACE Program framework which can be replicated by any county choosing to initiate a program.

In this role, INCOG will:
• Convene and facilitate a Steering Committee (complete)
• Raise funds for consultants and program development costs (currently underway)
• Contract with experienced C-PACE consultants (complete)
• Work toward ensuring the design and development of a C-PACE program that works for most and preferably all of Oklahoma’s 77 counties (currently underway)
• Assist counties interested in implementing C-PACE (beginning mid/late summer 2020)

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Timeline
INCOG is working to set up C-PACE in several counties by November 2020, when a new law takes effect clarifying eligible property types and the roles of counties and vendors in this process. In the meantime, you can learn more about Oklahoma C-PACE by viewing one or more of the following FREE archived webinars:

Webinar #1:
C-PACE 101: An Introduction to C-PACE
This webinar occurred Wednesday, June 24, 2020

The archived slide deck is available here.
A full recording of the webinar is available here.

This webinar provides an opportunity to learn how Commercial Property Assessed Clean Energy, or “C-PACE,” financing raises the value of commercial property, reduces utility costs, creates business opportunities for the construction industry, and increases economic development through secure lending.

Content includes:
• The fundamentals of C-PACE financing
• The C-PACE transaction structure
• The benefits of C-PACE
• The C-PACE application process
• What is the Oklahoma C-PACE program?

Target Audience: Property owners, financial institutions, contractors, local government officials, economic development professionals


Webinar #2:
WORKSHOP TO DEVELOP OKLAHOMA’S C-PACE PROGRAM:
Developing C-PACE in Oklahoma
This webinar occurred Tuesday, June 30, 2020
The archived slide deck is available here.
A full recording of the webinar is available here.

This workshop-style web event builds on the previous introductory webinar to C-PACE in Oklahoma and will include opportunities to contribute to the program guidance manual.

Content includes:
• Introduction to C-PACE financing
• Legislative history of C-PACE in Oklahoma
• Introduction to INCOG, the program sponsor
• How to create a statewide C-PACE program
• Drafting the Oklahoma C-PACE Guidance Manual
• Opportunities to contribute to the Guidance Manual

Target Audience: Members of the real estate industry, engineering and contracting industry, financial industry, and economic development officials.


Webinar #3:
Oklahoma C-PACE: Benefits and Implications For Local Government
This webinar occurred Wednesday, July 22, 2020

The archived slide deck is available here.
A full recording of the webinar is available here.

The Oklahoma C-PACE Program invites local government officials and staff to join this webinar on C-PACE financing. C-PACE can be a new tool in your economic development portfolio, but each county needs to first “opt in” to this new program. This web event will explore how C-PACE financing can benefit your counties and communities. The webinar will detail the role of local governments in establishing and administering a C-PACE program, with a close look at which responsibilities can be outsourced by local governments to third parties and how INCOG is working to streamline the startup process for you.

Content includes:
• Fundamentals of C-PACE Financing
• Legal Background on Oklahoma’s C-PACE legislation
• C-PACE program roles: program sponsor, program
• administrator, and local government
• C-PACE transaction structure
• The county's role in establishing a C-PACE program
• Program Documents
• Case Studies

Target Audience: Municipal and county tax and economic development officials, county commissioners, and staff.

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C-PACE OK Sponsorship
Financial sponsorship toward the costs associated with developing Oklahoma’s C-PACE platform is welcome. Sponsors receive logo recognition on this webpage and will be listed as founding members of Oklahoma’s C-PACE platform. More information regarding the timeline, implementation plan, and sponsorship levels and benefits can be found in our C-PACE sponsorship information packet.

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C-PACE Toolkit from US Department of Energy
The C-PACE Toolkit is a resource provided by the US Department of Energy’s Better Buildings program to provide commercial building owners and occupants the information needed to take advantage of this financing mechanism to fund efficiency and resiliency improvements for their buildings. Though this toolkit is a national overview, Oklahoma’s specific program is currently in development and will be available in late 2020.

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For more information, contact:

Adriane Jaynes,
Energy Programs Coordinator
918-579-9494  
ajaynes@incog.org
Nancy Graham,
Air Quality Programs Manager
918-579-9418     
ngraham@incog.org

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