Bernalillo County and Albuquerque approve green finance program

(The Center Square) – Bernalillo County and Albuquerque are the first local governments in New Mexico to pass legislation opting into the New Mexico C-PACE program, according to a press release from the state’s Economic Development Department.

New Mexico adopted the C-PACE (Commercial Property Assessed Clean Energy) program in 2023 to help eligible property owners receive long-term financing for many energy-efficient and climate-resilient improvements.

“The financing is then secured via a special improvement assessment on the improved property,” the release said.

EDD contracted New Mexico-based Adelante Consulting Inc. to be the program administrator to certify program applications and work alongside New Mexico counties to increase program participation.

“C-PACE can make all the difference in supporting renewable energy installations, reducing pollutants, and boosting property values,” Nora Meyers Sackett, Director of EDD’s Office of Strategy, Science & Technology, said. “We are pleased that the program will now be available to property owners in New Mexico’s most populous county as we work to expand C-PACE throughout the state.”

Bernalillo County passed its ordinance 5-0 on May 28, 2024, while Albuquerque passed its resolution 9-0 on June 3, 2024.

“We all know how difficult it can be to make improvements to our properties when we are hit with large expenses upfront,” District 4 County Commissioner Walt Benson said. “This program incentive helps with that barrier and is an excellent way to motivate business owners to improve their properties with more sustainable and energy-efficient measures.”

Albuquerque City Council President Dan Lewis added that he thinks the program will especially help the city because the Improvement Special Assessment Act also lets eligible commercial property owners get long-term financing from private capital providers for qualifying projects.

DON’T MISS OUT

Be the first to know about the latest news, giveaways, events, and updates from The Black Chronicle!

We don’t spam! Read our privacy policy for more info.

spot_img

Hot this week

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Pritzker touts rising minimum wage as Illinois’ unemployment rate has increased

(The Center Square) – Illinois employers are bracing for...

Lawsuit filed against Minnesota for barring Christian schools from using program

(The Center Square) – A religious liberty group, Christian...

Bah, humbug! Rand Paul report details ‘waste’ in federal spending

Congress and federal agencies wasted more than $1 trillion...

This Day in History: Jazz Legend Cab Calloway Born in 1907

On Dec. 25, 1907, legendary jazz musician and bandleader...

Ohio minimum wage to increase Jan. 1

(The Center Square) – Ohioans working for minimum wage...

Louisiana residents list crime as one of state’s most pressing issues

(The Center Square) — In Louisiana, violent and property...

Chinese spies arrested in California

(The Center Square) – People’s Republic of China (PRC)...

More like this
Related

Pritzker touts rising minimum wage as Illinois’ unemployment rate has increased

(The Center Square) – Illinois employers are bracing for...

Lawsuit filed against Minnesota for barring Christian schools from using program

(The Center Square) – A religious liberty group, Christian...

Bah, humbug! Rand Paul report details ‘waste’ in federal spending

Congress and federal agencies wasted more than $1 trillion...

Medical Notes: How To Starve Cancer, Hack Your Sleep, And Supercharge Your Cells

Cancer loves the sugar in our diets. A new study...