HB 80 was signed into law August 2017, and codified at AS 29.55.100 – .165 (“the C-PACE Act”), which allows local governments to create and manage C-PACE programs. The following documents are required by the C-PACE Act for a local government to establish a C-PACE program within its jurisdictional boundaries (“AK C-PACE Documents”):
- Resolution of Intent;
- Ordinance Approving PACE Program;
- Program Report;
- Ordinance to Establish a PACE Program;
- Owner Contract;
- Capital Provider Contract; and
- Notice of Contractual Assessment.
On June 30, 2022, Governor Dunleavy signed House Bill 227 into law, expanding the eligibility of future projects. This Bill included several changes to the state C-PACE program including rebranding as C-PACER, allowing new construction projects to qualify for PACE funding; adding resiliency projects; allowing C-PACER refinancing with a two year “look back” period; considering a property’s “market” value rather than assessed value; and eliminating the Savings-to-Investment Ratio and extending the maximum loan term from 20 to 30 years.
The AK C-PACER Documents are attached hereto. Each document is for informational purposes only and not for the purpose of providing legal advice. Local governments should consult their attorney to obtain advice with regard to the content, and use, of these documents.
The AK C-PACER Documents primarily describe the roles and responsibilities of a local government in a C-PACER program as described in the C-PACE Act. One important exception noted here is that one requirement of the local government is to ensure a plan for capital to be provided under the program, which the C-PACE Act contemplates may be provided by either private sources or by the local government through the issuance of bonds or other public funds. As a result of consultation with AEA and the Advisory Group, the AK C-PACER Documents do not contemplate the provision of capital through issuance of bonds by local governments or use of public funds. Certain changes to the AK C-PACER Documents are required if local governments want to preserve this funding option pursuant to the terms of the C-PACE Act.
The AK C-PACER Documents are meant to be a tool for local governments seeking to establish C-PACER in tandem with other program administrative documents not prescribed by the C-PACER Act but developed under this initiative.
AK C-PACE Statute
HB 80 was signed into law August 2017 and codified at AS 29.55.100 – .165, allowing local governments to create and manage C-PACE programs.
Disclosure for AK C-PACE Template Forms
Local governments should read the attached Disclosure before utilizing any of the AK C-PACE Program Documents.
Form Resolution of Intent
The Form Resolution of Intent establishes that the financing of energy improvement projects through assessments serves a valid public purpose.
Form Ordinance Approving a C-PACE Program
This form non-codified ordinance approves a program report setting forth the terms and conditions of a municipal property assessed clean energy program.
Form Program Report
This is the form form for a statutorily required, publicly available report describing the statutory terms of a C-PACE program.
Form Ordinance to Establish a C-PACE Program
This form codified ordinance incorporates a previously enacted Resolution and Intent and Ordinance to Approve a C-PACE Program, establishing the C-PACE program in a particular municipality.
Form Owner Contract
This contract is executed by the municipality and the C-PACE borrower, specifying the terms of the C-PACE Assessment and financing.
Form Capital Provider Contract
This contract is executed by the municipality and the C-PACE capital provider, describing the servicing of the C-PACE assessment.
Form Notice of Contractual Assessment
This document is recorded in the land records to evidence a C-PACE assessment on the property.
AK C-PACE Guide to Establishing a C-PACE Program
This Guide to Establishing a C-PACE Program enstructs municipalities on how to establish and administer a C-PACE program using the AK C-PACE Program Documents and administrative platform. Updated February 2021.
AK C-PACE Program Handbook
This Program Handbook has been updated with language from HB 227 for program users in municipalities and boroughs where a C-PACE program has been established. It is primarily targeted at property owners, capital providers, and contractors interested in participating in the program. The Program Handbook describes project eligibility requirements and the C-PACE application process. This document is still in draft form as the Municipality of Anchorage is working on updating the fee structure. Updated May 2023.
AK C-PACE Project Application
This is a form application that local governments may use to determine the eligibility of a proposed C-PACE project. If you are a potential borrower interested in using the C-PACE program, please contact your local program administrator for the full suite of application package documents. Updated February 2021.