New Economic Development Tool for Counties

INCOG has worked for the last year to bring Commercial Property Assessed Clean Energy (C-PACE) financing to Oklahoma. Already available in 22 other states, C-PACE is a new economic development tool initiated at county level to accelerate commercial development. C-PACE can significantly lower the cost of energy, water, and resiliency improvements for commercial buildings. Beginning this fall, C-PACE will be available to any county in Oklahoma at no cost to the county.

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 via a voluntary assessment on their property which is then repaid in parallel with 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.

On October 8, 2020, at 1:30 p.m., INCOG, Association of County Commissioners of Oklahoma, and the Oklahoma Department of Commerce will be hosting a webinar for County Commissioners, Treasurers, Assessors, and staff regarding the benefits of C-PACE and how INCOG can provide this tool at no cost to the county. Click here to register.

For more information, please visit OklahomaCPACE.org, contact Adriane Jaynes at ajaynes@incog.org or918-579-9494, or Nancy Graham at ngraham@incog.org or 918-579-9418.

Tagged with:

More Articles

Subscribe Today
Recent Tweets
Find us on Facebook
Search
Questions?
Follow Us

Keyword Search

Questions? Contact us today.

Topic:

Thank you for visiting the Oklahoma Department of Commerce.

The news from Oklahoma Now (now.okcommerce.gov) can now be found on the new and improved okcommerce.gov.

Read our latest business news here.