Urge legislators to support C-PACE

Thursday, March 7, 2019

Urge legislators to support C-PACE

Dear Editor:

As a life-long resident of Glendive I’m proud of the growth our town is experiencing.

Locally-owned businesses are sprouting up left and right such as Cross-Country Brewing, The Vint, Cravens, Dollar Store amongst many others in and around our area. A thriving main street business culture benefits all of us — in jobs created, dollars earned for local people, and dollars spent here in our community.

That’s why we should be doing everything we can to help revitalize main street Montana and drive economic development.

One tool that does just that is Commercial Property Assessed Clean Energy, or C-PACE. Right now, C-PACE legislation (SB245) is starting on its way through our state legislature.

Ever noticed how much of a hit you’re taking on your business utilities?

We’re probably all spending more than we should be, especially when our buildings are old or have inefficiencies.

C-PACE tackles exactly that. It’s an innovative energy efficiency financing tool that helps commercial property owners fund upgrades like new HVAC systems, LED lighting retrofits, better insulation, and more.

Best of all, C-PACE relies on zero public dollars. Instead, it allows small business owners to access capital from banks and investors that covers up to 100 percent of the upfront cost of their upgrades. The cost of these upgrades is repaid as a small assessment on the property’s annual tax bill over a term of 20 years. The annual energy savings for C-PACE projects are designed to exceed the additional assessment to the property.

C-PACE is already up and running in 36 other states, where it’s driving economic development, creating goodpaying local jobs, and building communities alive with character.

Want more? Farms and ranches can also benefit from C-PACE as they are considered commercial property.

Sound good to you? Join me in urging our local legislators to support C-PACE.

You can call or email our reps here: Alan Doane at (406) 583-7546 or alandoane@midrivers.com, Steve Hinebauch at (406) 365-7967 or Steve.Hinebauch@mtleg.gov. Tell them to support SB245!

Bruce Peterson