New Hanover County could become the first in North Carolina to take part in the state’s Commercial Property Assessed Clean Energy (C-PACE) program.

The program, approved by state legislators last summer, helps commercial property owners secure financing for improvements that increase a building's resiliency, energy efficiency, water conservation or use of renewable energy. It can be used to finance up to 100% of a project’s cost and generally offers property owners longer payment terms and lower interest rates.

According to state statute, North Carolina’s C-PACE program applies to “privately owned commercial, industrial or agricultural real property or privately owned residential real property consisting of five or more dwelling units.” The program can finance a range of improvements, including energy efficiency, resiliency, renewable energy and water conservation, that are part of new construction or the renovation of existing buildings. C-PACE programs currently exist in 40 U.S. states and Washington, D.C.

Madelyn Wampler, who joined the county as its first sustainability manager in October, said the C-PACE program was one of the first initiatives she pursued in her new role. She began looking into the program after members of Wilmington’s Clean Energy Advisory Committee expressed interest in participating.

Last week, the New Hanover County Board of Commissioners unanimously approved a resolution of intent to participate in the C-PACE program. A public hearing and final vote on the resolution are scheduled for the board’s Feb. 17 meeting. The Wilmington City Council also recently approved a resolution declaring the city’s intent to participate in the C-PACE program.

The program is administered through the Economic Development Partnership of North Carolina (EDPNC). Wampler said if a commercial property owner wants to upgrade their building by, for example, installing a heating and cooling system or a new roof they would apply through EDPNC for help financing the upgrade.

“Once they've submitted the application, EDPNC will work with them on matching them with a private capital investor and ensure project eligibility,” Wampler said.

Projects financed through the C-PACE program have longer payment plans spanning 20 or 30 years and lower interest rates. Wampler noted that upgrades aimed at increasing energy efficiency could save property owners money by reducing energy costs. Those saved funds, she said, could then be put towards paying off the project.

Wampler said the program can help reduce some of the up-front costs of improvements that property owners might want to invest in but don’t have sufficient funds currently available.

“This program will help with alleviate that burden," she said, "especially for perhaps some commercial property owners that don't have the financial means, maybe a medium or smaller business.”

Wampler added the program supports the county’s strategic plan initiatives, including goals like establishing resilient infrastructure to drive economic growth and mitigating health and safety risks. Participating in the program shows that the county values sustainability efforts, she said.

“I think it signals a broader support for sustainability-related initiatives and economic development in our region,” Wampler said, “and as the new sustainability manager for the county, I think this is a really great opportunity for me to support this program and to signal my collaboration with the city of Wilmington with their sustainability initiatives.”