On Monday, September 9th, the Skagit County Commissioners adopted an ordinance to implement Commercial Property Assessed Clean Energy and Resiliency (C-PACER) financing under RCW 36.165 et seq. C-PACER is a financing tool for business owners to take out a private loan to pay for projects that improve efficiency and resiliency. The loan is secured by a recorded County assessment lien on the property that is immediately assigned to a private lender who then administers the loan and lien. This lien arrangement means the loan lien will stay with the property if the property is sold to another owner. The County does not have any further involvement in the loan. C-PACER financing is now available to businesses in county-wide.
C-PACER financing allows business owners to secure loans to make critical building improvements which reduce operating expenses, improve the health of occupants, and strengthen long-term sustainability. C-PACER can support improvements in new and existing commercial, industrial, non-profit, and multi-family buildings.
Supporting projects which will increase and improve housing projects in Skagit County is one of the collective goals of North Star, a public-private partnership between the County, our four cities, and providers to pool resources and increase affordable housing and behavioral health resources in our community. The County Commissioners hope that by increasing financing options, developers will be encouraged to renovate or build new and affordable housing options in Skagit County.
A presentation on the C-PACER financing program was provided to the Skagit County Commissioners on March 25th, 2024, and can be rewatched on the Commissioner’s website.
More information on the program can be found on our project webpage. Questions on C-PACER and how to apply may be directed to the Skagit County Planning & Development Services Department at [email protected] or 360-416-1320.
