C-Pace Loan adoption Public Comment from Noelle BarrAimee Brunckhorst
From: Noelle Barr <nbarr@kalispellgrand.com>
Sent: Thursday, December 29, 2022 1:26 PM
To: Kalispell Meetings Public Comment
Subject: EXTERNAL C-Pace Loan adoption
Dear Madam and Sir,
I Listened to the meeting on the presentation made about the implementation of a C-Pace. This program would be an
awesome benefit if it was providing funding at a discounted rate. However, I do not see that it necessarily gives the
property owner a discounted rate or any other benefit other than providing assurance to the lender that the loan for
energy efficient upgrades would have priority to all other loans and debts related to the property. I would be
concerned that a loan set up under this program may displace the priority of current loans on property in the city and
could be a risk to the current banks holding the property as collateral. I am not a bankruptcy lawyer but I think it would
be advisable to understand this risk to banks who have already perfected loans on local property. Perhaps a
simple requirement of the C-Pace district could have a requirement that current creditors get notice before the loan is
approved. Good luck, you have a lot of complicated issues to deal with.
Sincerely,
Noelle Barr
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