State Financing Program Can Support Private Investment & Business Growth
The Halifax County Board of Commissioners recently approved a Resolution Declaring Intent to participate in North Carolina’s statewide Commercial Property Assessed Clean Energy (C-PACE) Program. The action is the first step in offering a new financing tool for private investment in commercial, industrial, agricultural, nonprofit, and multifamily properties throughout the county.
Authorized by the North Carolina General Assembly through Senate Bill 802, the C-PACE program allows qualifying property owners to access long-term private financing for eligible building improvements focused on energy efficiency, renewable energy, water conservation, and resiliency. Eligible improvements may include HVAC upgrades, roofing, insulation, solar installations, flood mitigation measures, backup power systems, and other permanent building improvements designed to improve operational efficiency and long-term property performance. North Carolina law also includes important financial safeguards, including a limit that C-PACE financing cannot exceed 35% of a property’s expected stabilized value after improvements are completed.
The statewide program is administered by the Economic Development Partnership of North Carolina (EDPNC) in partnership with the North Carolina Department of Commerce. Under the program structure, private lenders provide project financing directly to qualifying property owners. Halifax County does not lend money, guarantee repayment, or assume financial liability for projects participating in the program.
C-PACE financing is intended to help remove financial barriers that often delay redevelopment and modernization projects. By providing access to long-term capital for qualifying improvements, the program can help businesses lower operating costs, improve resiliency, modernize facilities, and increase property values. County leaders believe the program may provide additional opportunities to support redevelopment, industrial investment, downtown revitalization, and business expansion efforts across Halifax County.
Approval of the Resolution Declaring Intent is the first step in the participation process established under North Carolina law. The County will next hold a public hearing on Monday, July 6, 2026, at 9:30 a.m. at the Historic Halifax Courthouse before a final decision to officially join the statewide C-PACE program. For additional information regarding the C-PACE program, follow this link: https://halifaxdevelopment.com/north-carolina-c-pace-program/
Other counties that have signed on to this program include Greene, Henderson, Chatham, Mecklenburg, Alexander, New Hanover and more.
