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C-PACER financing program
C-PACER is an alternative loan program that allows owners of eligible commercial properties to seek long-term financing from a private capital provider for qualified improvements related to energy and building resiliency.
What is C-PACER and how does it work?
C-PACER stands for Commercial Property Assessed Clean Energy and Resiliency. It's a voluntary statewide program in Washington (RCW 36.165), which King County participates in.
C-PACER is an alternative loan program that allows owners of eligible commercial properties to seek long-term financing from a private capital provider for qualified improvements related to energy and building resiliency.
King County administers C-PACER but the program does not use government funds. C-PACER involves a loan agreement between a private lender and the property owner, like a mortgage or home improvement loan.
The county records the loan as a lien on the property. This means that if the property owner sells the building, the assessment stays with the building (unless the payoff is part of the sale agreement).
Benefits of C-PACER financing
- Property owners can save money by lowering utility bills and energy costs
- Longer loan payback terms can make C-PACER-funded projects cash-positive sooner than traditional loans
- C-PACER loans rarely require cash up front, making them more accessible to property owners than other loans
- Creates local jobs and spurs economic activity through the funding of new efficiency and resiliency projects
Learn more in the C-PACER Program Guide
What kind of properties and improvements are eligible?
Eligible properties are privately-owned (includes ownership by a not-for-profit organization), within King County, and either:
- Commercial
- Industrial
- Agricultural
- Multi-family (5 or more dwelling units)
Qualified projects make a permanent improvement to a new or existing building. These can include:
- Energy and water efficiency
- Electrification improvements that eliminate fossil fuel combustion
- Electrical vehicle charging
- Renewable energy
- Resilience improvements, like:
- Seismic retrofits
- Flood mitigation
- Stormwater management
- Wildfire and wind resistance
- Energy storage
Steps of C-PACER project
There are several key parties involved with C-PACER projects:
- Property Owner: The owner of a qualifying eligible property. This may be may be an individual person, business, corporation, or nonprofit. They must be listed on the building’s title.
- Capital Provider: The lender, which an be a corporation, bank or credit union, or other private entity. They must be a registered C-PACER capital provider.
- Project Certifier: A licensed professional engineer or other qualified individual or firm that certifies that the project is qualified for C-PACER financing.
- Program Administrator: The person or organization that administers the C-PACER program. This includes accepting the project application and ensuring that all steps of the loan/lien process are completed. King County is the program administrator for C-PACER projects within the county boundaries.
- Contractor: Licensed and bonded contracting business(es) that will complete the qualified C-PACER improvements to the building.
Note: C-PACER transactions involve complex legal and financial transactions between and capital provider and a commercial property owner. King County does not review or approve the financial merits of a proposed transaction, or supervise or review the quality of any work performed by contractors. Property owners are advised to consult with legal and financial advisors prior to engaging in a CPACER transaction.
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Property Owner develops a qualified C-PACER project
As part of the application process, you will need a Project Certifier to confirm that your project is qualified for C-PACER financing, using the Certification of Qualified Improvements form.
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Property owner identifies Capital Provider
A Capital Provider (lender) can be:
- A federal or state-chartered bank, Community Development Financial Institution, or credit union.
- A corporation, partnership, or other legal entity registered as a C-PACER Capital Provider in 2 different states.
- A private entity, whose principal place of business is located in Washington state. They must also be licensed or permitted to do business within the state. and be able to producer their most recent audited financial statement or regulatory business filing.
Your Capital Provider will have to complete the Certificate of Capital Provider Qualification as part of your application.
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Property Owner completes application materials and submits to Program Administrator
The application includes 5 forms, which you can download below. Send all completed applications in an email to CPACER@kingcounty.gov.
- Application checklist
- Lien Holder Consent to C-PACER Assessment and Lien
- Notice of Proposed C-PACER Assessment and Request for Consent of Lien or Other Obligation Holder to C-PACER Assessment and C-PACER Lien
- Certification of Improvements (completed by Project Certifier)
- Capital Provider Qualification (completed by Capital Provider)
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Program administrator reviews application
King County will review your application. We may reach out to you with follow-up questions. -
Approved projects move forward
If your application is approved, there are a few more steps ( and forms) you will need to complete.
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Funding, implementation, and loan repayment
The Capital Provider funds the work, and the Contractor implements project.
Once the project is complete, you will need to submit a Certificate of Improvements Completion to King County.