C-Pace State-by-State - Penthouse View

C-PACE Alliance – State-by-State

Virginia (updated June 2018)

Context: Virginia enacted a revised and improved C-PACE statute in 2015. Only Arlington County has implemented a program by adopting an ordinance and selecting a Program Administrator.

Opportunity: The Mid-Atlantic PACE Alliance (MAPA) is a coalition seeking to bring consistency and best practices to C-PACE programs in the region. Local private sector experts were invited to offer ideas.

Progress to Date:

  • The MAPA model ordinance drew on the CPA best practices paper published in January 2018.
  • Capital Providers sent a unified letter of support for C-PACE programs to officials in Loudoun County and Fairfax County.
  • In May, Fairfax County Environmental Committee directed staff to draft a local ordinance.  Staff will follow the MAPA model and present to the Committee by January 2019.
  • Loudoun County Board of Supervisors unanimously resolved to move forward with consideration of C-PACE. Staff are considering the MAPA model. 

New York City (updated June 2018)

Context: New York City does not participate in New York State’s C-PACE program.

Opportunity: In late 2017, Mayor de Blasio announced his intention to propose a C-PACE program for New York City. Staff contacted capital providers for their input.

Progress to Date:

“It’s very helpful to have things described and broken out in an organized manner like this… Please know that we took to heart a number of these points based on previous conversations with you and your partners and are trying to incorporate many of these recommendations…”

  • The City policymakers requested input from stakeholders, including CPA, on the role of the Program Administrator in marketing C-PACE.
  • The introduction of a C-PACE bill has been delayed due to a new City Council Chair early in 2018.  The Mayor hopes the Council would enact building performance mandates at the same time as C-PACE.

New York State (updated June 2018)

Context: New York State launched its C-PACE program with an exclusive arrangement for capital to be provided with a single large bank.  This “Make Whole” program would partially protect the lender’s risk-of-loss in its total C-PACE portfolio with a cash collateral.

Opportunity: As a result of relatively high fees to property owners, as well as legal hurdles that prevent a capital providers from directly enforcing its tax lien, the program has under-performed expectations. In late 2017, the state program administrator, Energize NY, invited input from capital providers.

Progress to Date:

  • Energize NY staff are committed to overhauling the program to allow open access to all capital providers, to reduce fees, and to search for solutions to the problem of tax assessment enforcement.
  • Energize NY invited CPA onto its Advisory Committee.
  • EIC created a “Pay When Received” product that is closer to traditional C-PACE than the “Make Whole” product.    
  • CPA sent written comments June 8.  Energize NY replied on June 21. 
  • NYSERDA published guidance on: Contents of the energy audit; Certification of energy auditors; Reporting & verification.  Follow up call in July.

Illinois (updated June 2018)

Context: Illinois enacted C-PACE legislation in 2017 that authorized financing only via bond issuances through a Special Supplemental process involving time-consuming public hearings.  The Governor is expected to sign the technical fixes passed by the state legislature.

Opportunity: In late 2017, capital providers contacted the local advocates and the Illinois Finance Authority (IFA) to encourage coordinated effort to form a statewide program administrator.  No organization was in a position to play this role.

Progress to Date:

  • Based on consultations with counites, IFA will serve as a statewide conduit bond issuer but not as a program administrator.  IFA is expected to publish a model ordinance that counties could adapt.
  • Kane County, DuPage County and the City of Chicago have independently issued RFPs for Program Administrators.  The response period is closed.  All three specified that the Administrator should assist with drafting a local ordinance.
  • Cook County staff will propose its own RFP in the fall of 2018.

Pennsylvania (updated June 2018)

Context:  In June 2018, Governor Wolff signed C-PACE legislation. 

Opportunity:  The coalition advocating for C-PACE will hand off the implementation to other groups with the capacity.  No statewide organization(s) have stepped forward to play the role of Program Administrator.

Progress to Date:

  • C-PACE Alliance checked that the state’s legislation is consistent with the CPA’s white papers on well-designed programs.
  • CPA encouraged interested stakeholders to meet.
  • In July, representatives of the CPA will join the first implementation discussion in Philadelphia. 
  • CPA will encourage a similar discussion in Western Pennsylvania.

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