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An ordinance amending Title 5 of the Metropolitan Code of Laws to adopt a Commercial Property Assessed Clean Energy and Resilience (C-PACER) program within Davidson County to be administered by the Office of the Metropolitan Trustee.
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WHEREAS, pursuant to the Commercial Property Assessed Clean Energy and Resilience Act, Tenn. Code Ann. ? 68-205-101, et seq. (the "C-PACER Act"), the Tennessee General Assembly granted local governments the authority to establish a commercial property assessed clean energy and storm resiliency (C-PACER) program that jurisdictions can voluntarily implement to ensure that free and willing owners of agricultural, commercial, and industrial properties and certain multi-family residential properties can obtain low-cost, long-term financing for certain real property improvements; and,
WHEREAS, the C-PACER Act allows this financing to be used for qualifying improvements, including energy efficiency, water conservation, renewable energy, and resiliency measures such as flood mitigation, stormwater management, wildfire and wind resistance, energy storage, microgrids, and fire suppression; and,
WHEREAS, a C-PACER program promotes voluntary energy efficiency, energy conservation, and resiliency, and such improvements not only save money for building owners, but also support the reduction of energy consumption, support the production of clean, renewable energy, and reduce greenhouse gas emissions; and,
WHEREAS, unlike commercial loans, C-PACER financing is secured by a local government lien and has a long-term, fixed-rate that makes annual payments more affordable to applicants pursuing projects, and additionally, unlike commercial loans, because C-PACER improves the property, it is transferable upon sale to a new owner; and,
WHEREAS, C-PACER programs also encourage a decrease in energy and water usage and corresponding costs, and further realize associated environmental, economic, and social co-benefits; and,
WHEREAS, the 2021 Rep...
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