Contact:
Meghan Jordan
Communication Specialist III
Meghan.Jordan@snoco.org
425-312-0564
Snohomish County Approves First C-PACER Application
The program has received high interest in the six weeks since it launched.
SNOHOMISH COUNTY, Wash., February 6, 2023 – Six weeks after Snohomish County launched its Commercial Property Assessed Clean Energy & Resiliency (C-PACER) program, its first application has been approved. The C-PACER program allows commercial property owners to access low-cost financing for energy efficiency, natural disaster and resiliency upgrades to their property that carry with the life of the property instead of the property owner.
The first approved application was for Glint Car Wash; they are using the low-cost financing provided by Nuveen Green Capital, to retroactively fund the installation of a water reclamation system that lowers its water use. This is the company’s third C-PACER loan, but first in Snohomish County.
“This program is unique in that it allows us to retroactively access capital for environmentally-friendly improvements we have already completed,” Rune Harkestad, co-owner of Glint Car Wash said. “It is important to us as a business to do our part to conserve our natural resources and increase suitability, and this program helps us do that.”
“C-PACER can help businesses save some money on their utilities and also advances Snohomish County’s goal of making our built environment more energy efficient,” said Snohomish County Executive Dave Somers. “It is encouraging that commercial property owners are taking advantage of the program so quickly after Snohomish County launched it. All efforts to increase energy efficiency and resiliency help move the needle on reducing greenhouse gas emissions.”
“Snohomish County was great to work with – they were efficient and stuck to all their timelines as promised. We are thrilled to see the strong interest in the C-PACER program building in the county and look forward to working with Snohomish County on many more projects,” Aidan Mclaughlin, Associate Director of Originations, Nuveen Green Capital said.
“I was excited to co-sponsor this legislation and work with community members to also address resiliency and natural disasters,” Snohomish County Councilmember Megan Dunn said. “It is great to see the first application signed and the program off to a strong start to incentivize green building and energy conservation.”
“It is promising to see such high interest in the C-PACER program by our business community,” Snohomish County Councilmember Nate Nehring said. “This is one step in the right direction to improve our environment and promote green building in Snohomish County.”
The C-PACER program creates a mechanism for capital providers, such as banks or credit unions, to offer low-interest financing for commercial property improvements that reduce greenhouse gas emissions, improve energy efficiency, increase renewable energy, promote water conservation, and encourage resiliency. The program fee covers the cost of program implementation and operation, and the Auditor’s Office fee for recording the Closing Documents on the property title. To learn about eligible upgrades and properties, review the C-PACER webpage and guidebook. Snohomish County is one of six counties in Washington that offers a C-PACER program to commercial property owners.
About Snohomish County Conservation and Natural Resources
The Snohomish County Department of Conservation and Natural Resources (DCNR) includes the Division of Surface Water Management; the Division of Parks and Recreation; the Office of Energy and Sustainability and the Office of Agriculture. DCNR works in support of thriving communities; a clean and healthy environment to foster environmental stewardship; ensuring food security; supporting a green economy, and strengthening communities by providing regional parks and infrastructure; protecting the region's water, air, land and natural habitats; enhancing agriculture and recreation; and reducing flooding. https://snohomishcountywa.gov/5758.