Rosebud County commissioners approve resolution to establish CPACE financing program

The commissioners voted to approve the resolution the meeting transcript records as "resolution 20 26-27" to establish a Rosebud County Commercial Property Assessed Capital Enhancements (CPACE) program. The chair read a description of the CPACE program and said eligible upgrades include energy, water efficiency and renewable-energy improvements fixed to the property.

The chair explained CPACE is a financing tool that provides building owners access to long-term financing that is secured by a tax assessment and repaid through the property tax bill. A commissioner summarized the lien priority: "So basically this goes on as a property tax lien so it goes in front of all other liens therefore it is a priority lien." The transcript also records that projects over 100,000 (as stated at the meeting) may qualify for CPACE financing and that participation will be supported through the Montana Department of Commerce with no cost to the county.

A commissioner moved to approve the resolution and another commissioner seconded; the motion was approved by voice vote. The board heard that some neighboring counties already participate and that the program had been recommended by county managers and SEM. The resolution was passed as read at the Sept. 22 meeting; the county clerk or county records will reflect the official resolution number and text.