HomeMy WebLinkAbout26-2581 Commercial Property Assessed Captial Expendure Program CITY OF MERIDIAN RESOLUTION NO. 26-2581
BY THE CITY COUNCIL: CAVENER,LITTLE ROBERTS, OVERTON,
STRADER, TAYLOR, WHITLOCK
A RESOLUTION EXPRESSING THE CITY OF MERIDIAN'S INTENT TO
ESTABLISH A COMMERCIAL PROPERTY ASSESSED CAPITAL
EXPENDITURE PROGRAM AND ADDRESSING ACTIONS RELATED
THERETO; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS,the Commercial Property Assessed Capital Expenditure Act, Chapter
38, Title 67, Idaho Code ("Act") authorizes municipalities, counties and other political
subdivisions of the State of Idaho to establish a commercial property assessed capital
expenditure program ("C-PACE Program") to assist in financing the costs of certain
renewable energy, energy and water efficiency, and resiliency improvements ("Qualified
Improvements") owned by certain commercial, industrial, agricultural, or multifamily
housing property owners through the levy of special assessments; and,
WHEREAS, the City Council finds that the financing of Qualified Improvements
through special assessments is a valid public purpose; and,
WHEREAS, the City desires to establish a C-PACE Program pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF MERIDIAN, IDAHO:
Section 1. The terms defined or described in the recitals hereto shall have the
same meanings when used in the body of this Resolution. All other capitalized terms used
herein and not otherwise defined shall have the meaning given such terms in the Act.
Section 2. Pursuant to the Act,the City hereby expresses its intent to authorize
direct financing between Property Owners and Capital Providers as a means to finance
Qualified Projects and to authorize Special Assessments, entered into voluntarily by a
Property Owner with the City by means of an Assessment Agreement for C-PACE
Financing, to repay the financing for Qualified Projects available to Property Owners.
Section 3. Pursuant to the Act, it is intended that projects involving the
installation or modification of a Qualified Improvement, including,but not limited to,new
construction or the adaptive reuse of property with a Qualified Improvement may qualify
for financing under the C-PACE Program through the levy of special assessments. In
addition, it is also intended that Qualified Improvements which are installed and
operational no more than three (3) years prior to the date when a C-PACE financing
application is submitted to the City may qualify for financing under the C-PACE Program.
Section 4. The City intends that the C-PACE Program shall be available to all
Property Owners of Commercial Property within the boundaries of the City in accordance
with the Act.
RESOLUTION—C-PACE PROGRAM
Section 5. Pursuant to the Act and in accordance with Section 67-3806(4) of
the Act, the City proposes to designate the City's Economic Development Administrator
as the administrator of the C-PACE Program(the"Program Administrator"). The Program
Administrator will prepare a Program Guidebook describing the C-PACE Program and its
requirements, review and approve applications for C-PACE financing, provide notice of
approval or disapproval of such applications,and collect any fees. The Program Guidebook
shall be approved by the City Council.
Section 6. The City shall hold a public hearing on May 12, 2026, at the hour
of 6:00 p.m. to receive input from the public with respect to the proposed C-PACE
Program as outlined in this Resolution.
Section 7. If the C-PACE Program is approved after the public hearing has
concluded, the Program Administrator shall be authorized to administer the C-PACE
Program and take such actions as necessary or advisable in order to impose voluntary
assessments on properties approved for financing under the C-PACE Program and carry
out and perform the purpose of this Resolution. The Mayor shall be authorized to execute
C-PACE documents on behalf of the City.
Section 8. The sections, paragraphs, sentences, clauses and phrases of this
Resolution shall be severable. In the event that any such section, paragraph, sentence,
clause or phrase of this Resolution is found by a court of competent jurisdiction to be
invalid, the remaining portions of this Resolution are valid,unless the court finds the valid
portions of the Resolution are so essential to and inseparably connected with and dependent
upon the void portion that it cannot be presumed that the City has enacted the valid portions
without the void ones, or unless the court finds that the valid portions, standing alone, are
incomplete and are incapable of being executed in accordance with the legislative intent.
Section 9. This Resolution shall take effect immediately upon its approval and
adoption.
ADOPTED by the City Council of the City of Meridian, Idaho, this 7th day of
April, 2026.
APPROVED by the Mayor of the City of Meridian, Idaho, this 7th day of April,
2026.
APPROVED:
Robert E. Simison, Mayor
ATTEST:
By:
Chris Johnson, City Clerk
RESOLUTION—C-PACE PROGRAM