Purpose.
Richmond, Va., City Code § 11-190
in effectSec. 11-190. - Purpose.
The purpose of this chapter is to create a "The City of Richmond Commercial Property Assessed Clean Energy (C-PACE) Financing Program," to operate in coordination with the statewide C-PACE program, all in accordance with Code of Virginia, § 15.2-958.3 (hereinafter, the "C-PACE Act"). The local and statewide C-PACE programs, working together, will facilitate loans made by capital providers to property owners of eligible properties to finance eligible improvements thereon. Subject to the limitations set forth in this chapter, the C-PACE Act, or other applicable law, each C-PACE loan, inclusive of principal, interest, and any financed fees, costs, or expenses, will be secured by a voluntary special assessment lien on the property that is the subject of such loan.
(Code 2020, § 11-190.1; Ord. No. 2023-152, § 2, 9-11-2023)
Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH11EN_ARTVIIICOPRASCLENFIPR_S11-190PUFetched: 11/8/2026