Commercial and industrial property owners in Burke County now have access to a new financing option for projects such as energy-efficiency upgrades, solar installations, water conservation, and improvements intended to make buildings more resilient to storms and flooding.
The Burke County Board of Commissioners voted Oct. 19 to join North Carolina’s Commercial Property Assessed Capital Expenditure, or C-PACE, program.
The statewide program, administered by the Economic Development Partnership of North Carolina, allows qualifying property owners to obtain long-term financing from private capital providers for eligible improvements.
Potential projects include heating and cooling system upgrades, energy-efficient lighting and equipment, insulation, solar installations, water-conservation measures, and improvements designed to protect buildings from storms, flooding, and other hazards.
The program is available to qualifying commercial, industrial, agricultural, nonprofit, and multifamily properties.
C-PACE financing is repaid through a voluntary assessment attached to the property. The financing is provided by private lenders rather than Burke County, and the county does not guarantee the loans or use public money to fund projects.
Property owners work directly with private capital providers to arrange financing, which can allow the cost of eligible improvements to be repaid over a longer period rather than requiring the owner to cover the full cost upfront.
“By helping make important building improvements more financially attainable, we can support business reinvestment, strengthen our existing building inventory, and enhance Burke County’s competitiveness for future investment,” said Brandon Ruppe, president and CEO of Burke Development Inc.
County officials also emphasized that participation does not put taxpayers on the hook for individual projects.
“Participation in the C-PACE Program provides property owners with another financing option to make meaningful improvements to their buildings while supporting energy efficiency, resiliency, and long-term economic growth. Importantly, the program facilitates private investment without placing the financial obligation on County taxpayers,” said Jeff Brittain, chairman of the Burke County Board of Commissioners.
For existing industries, the program could provide another way to finance renovations or equipment upgrades. Developers and commercial property owners also can use C-PACE when considering improvements to existing buildings or qualifying new construction.
The commissioners formally authorized Burke County’s participation by adopting Resolution No. 2026-22 following the state program’s required process, which included a resolution of intent and public hearing.
Burke County will work with EDPNC to connect interested property owners, developers, lenders, and contractors with program information.
More information about eligibility and financing is available at edpnc.com/c-pace.
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