Funds Available For Energy Upgrades In Seymour

Businesses in Seymour can now get upfront, low-cost, long-term financing to make clean energy improvements to their buildings.

On Jan. 27, the Board of Selectmen opted into a program called Commercial and Industrial Property Assessed Clean Energy (C-PACE), which allows commercial, industrial and multi-family property owners to access funding for all energy improvement costs and to repay that investment through a benefit assessment charge on their property tax bill. 

Similar to a sewer tax assessment, capital provided under the C-PACE program is secured by a lien on the property, so low-interest capital can be raised from the private sector and would be passed onto future owners if the property is sold.

First Selectman W. Kurt Miller sees this as a fantastic economic development tool and a tremendous opportunity for Seymour businesses.

Of the program, Miller says, ​“We’re all very excited about this program and we think it will be yet another tool in our economic development initiative to help attract businesses to Seymour.”

The program requires that energy upgrades eligible for financing must lower the energy consumption of the building or enable the building to produce clean energy, so building owners come out ahead from day one. In addition, the C-PACE program includes a 3rd Party Technical Review process to verify that projected energy savings are realized. Typical C-PACE measures include high efficiency equipment, energy management systems, and renewable energy systems such as solar.

Seymour has over 50 buildings covering over 2 million square feet of floor space eligible for C-PACE. Seymour now joins over 70 other municipalities that have already adopted C-PACE, including Stamford, Norwalk, and Westport.

More information and the online C-PACE application can be found at www.c‑pace.com

Click the play button on the video below — recorded by Frank Loda, a private citizen — to see officials discuss the program at a Selectmen’s meeting Jan. 7. The discussion begins around the 9‑minute mark on the video.

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