Post Falls moves forward financial program for improvements

POST FALLS — A Commercial Property Assessed Clean Energy program, otherwise known as CPACE, is expected to be launched soon in Post Falls.

In a unanimous vote, councilors recently voted to move forward with CPACE, which offers long-term, fixed-rate financing for qualified projects with no upfront costs.  

Mayor Ron Jacobson said he believed the financing program would be beneficial to properties that qualify for energy efficiency, renewable energy, water conservation or seismic resilience improvements. 

“It’ll be interesting to see how many applications we see on this,” Jacobson said.  

CPACE loans are secured by a commercial property owner by a lien and repaid over time by means of a voluntary tax assessment. City administrator Shelly Enderud said CPACE was adopted under Idaho code last year. 

In Kootenai County, Coeur d’Alene was the first city to adopt CPACE as a way of granting businesses a means to finance certain projects on commercial properties. 

“We just kind of get to put a stamp on it, they make their arrangement with the bank and then we get enough revenue from the fee that it more than covers our being involved, so it’s a net positive for the city,” City Councilor Randy Westlund said. 

Eligible improvements include energy-efficient HVAC systems, solar panels, insulation upgrades, high-efficiency lighting and water conservation systems.

The program enables property owners to make improvements without relying on traditional loans or capital budgets. Projects can reduce utility costs, increase property value and enhance occupant comfort, according to the city.

CPACE also supports the city’s sustainability goals by reducing greenhouse gas emissions and resource consumption. 

The City Council will make a final vote on the measure at the July 1 meeting.