King County C-PACER Program
A financing tool for more efficient, resilient commercial and multi-family properties
Program introduction
King County is developing a Commercial Property Assessed Clean Energy + Resiliency (C-PACER) program, an innovative financing mechanism to help commercial, industrial, agricultural and multi-family buildings become more efficient and resilient.
Throughout the program development process, King County will seek input from a broad range of stakeholders to learn how the program can best serve the community and to increase awareness around the program before it launches later in 2021.
This site will be used to highlight information about the program, and to host resources that will help building owners to reduce greenhouse gas emissions, increase clean energy sources, and provide safer commercial and multi-family buildings in King County.
How a C-PACER program works
C-PACER program steps
(Click or tap for an Acrobat pdf version.)
Property assessed clean energy and resiliency programs allow property owners to finance energy and resiliency projects, paying the costs back through a voluntary assessment. This is different from traditional loans because the assessment is attached to the property rather than the individual, meaning that if the property owner sells the building, the assessment stays with the building (unless payoff is part of the sale agreement).
Examples of projects that can be financed using C-PACER include:
- Energy and water efficiency
- Renewable energy
- Seismic hardening
- Fire protection
- Flood readiness
- Energy storage
C-PACER key parties
(Click or tap for an Acrobat pdf version.)
Benefits of C-PACER financing
- Property owners can save money by lowering utility bills and energy costs.
- Longer loan terms payback terms can make PACE-funded projects cash-positive sooner than traditional loans. In addition, PACE loans seldom require cash up front, making them more accessible to property owners.
- Lower interest rates on PACE financing makes loans more affordable.
- Creates local jobs and spurs economic activity though the funding of new efficiency and resiliency projects.
Developing the King County C-PACER Program
In 2020, Washington State passed HB 2405 authorizing counties to establish C-PACER financing programs. In response to the state legislation, the Executive-proposed 2020 Strategic Climate Action Plan committed to proposing a C-PACER program for King County.
Later this year the County will propose an ordinance to set up this C-PACER program.
For more information about the King County C-PACER Program, please contact Morgan Torres, Project/Program Manager, Dept. of Natural Resources and Parks.
King County resources
- Draft C-PACER Program guide
- Draft King County legal documents
- Jan. 27th Stakeholder Workshop slideshow
- Jan. 27th Stakeholder Workshop video
External resources
Related information
- King County climate action
- Commercial and multi-family permits
- Agriculture in King County
- Environmental stewardship