Strome Business Minute With Dr. Jeff Tanner

Commercial Property Accessed Clean Energy, or C-Pace, is a financing program for commercial property owners and developers to fund energy efficiency and storm water resiliency projects. A market-based program, C-Pace offers 100 percent private financing. Rather than a down payment, the lender is protected by a lien similar to a tax lien. Approved projects improve the building or property and often reduce operating costs – which helps attract and retain businesses, creates construction jobs, increases tax revenue through higher property values, and provide incentives to build to green and resiliency standards. Arlington, Loudoun, and Fairfax, and the City of Fredericksburg, have already enacted ordinances to establish C-Pace. It would make good business sense for Norfolk, Virginia Beach and other Hampton Roads cities to adopt C-Pace as well.