Paul Bemis: What the C-PACER program means for Bristol

At this spring’s Bristol Town Meeting, voters will be asked to consider whether the Town of Bristol should adopt the C-PACER program, which stands for Commercial Property Assessed Clean Energy and Resilience.

C-PACER is a state-enabled financing program authorized by legislation passed and signed into law in 2024. If adopted locally, the program would allow eligible commercial and industrial property owners in Bristol to access private financing for certain building improvements related to energy efficiency, renewable energy, water efficiency, and building resilience.

How the program works

Under C-PACER, property owners may finance qualifying improvements using private capital. The amount financed may be up to 35% of the property’s appraised value, depending on the project and the lender.

Eligible costs can include:

• Equipment, materials, and labor
• Energy or water audits and feasibility studies
• Financing and related transaction costs
• Verification of project performance

The financing term is set by the capital provider and may extend up to 30 years, allowing costs to be spread over the useful life of the improvements.

Unlike a traditional loan, C-PACER financing is tied to the property, not the individual owner. The repayment obligation is recorded as an assessment lien on the property and is transferred to a new owner if the property is sold, unless paid off at the time of sale.

Potential impacts for property owners

If a property owner chooses to use C-PACER financing:

• A larger portion of a project’s total cost may be financed compared to conventional loans
• For existing buildings, eligible project costs may potentially be financed in full
• No personal guarantee is typically required, as the financing is secured by the property

In many cases, energy and water cost savings associated with qualifying improvements may offset some or all of the financing payments, depending on project performance and operating conditions.

Participation in the program is voluntary. Only property owners who choose to pursue C-PACER financing would be affected.

What adoption means for the Town of Bristol

Adopting the C-PACER program would require approval of a Warrant Article at Town Meeting. If approved, Bristol would become a designated C-PACER District.

Program administration is primarily handled by the New Hampshire Business Finance Authority, which oversees program guidelines and approvals. The Town’s role would be limited and would mainly include:

• Recording assessment liens
• Maintaining awareness of liens in the event of a property default

The administrative impact on town staff is expected to be modest.

Why the question is on the Warrant

State law requires local approval before C-PACER can be made available in a municipality. The Town Meeting vote does not commit the town to funding projects or guaranteeing loans; it only determines whether the program may be offered to eligible property owners in Bristol.

Voters seeking more information about the program may review:

• nhbfa.com/loans/c-pacer
• /docs.google.com/document/d/10n_J_yPg47HLPHh6VpSwxJFluQ_m49FJlmmP9mbM12o/

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Paul Bemis is the chair of the Bristol Energy Committee and a longtime Bristol resident. This oped was written in conjunction with Community Power Coalition of NH.