LA HB62

Parish governing authorities may establish Commercial Property Assessed Capital Expenditure and Resilience (C-PACE) financing programs to fund eligible property improvements including disaster resilience, flood mitigation, energy efficiency, water conservation, and environmental remediation projects

Eligible properties include privately owned commercial, industrial, and agricultural properties, as well as residential properties with five or more dwelling units; financing terms cannot exceed 30 years or the useful life of the longest-lived improvement

Program liens take priority over all other liens except ad valorem tax liens, with written consent required from existing mortgage holders before financing approval; total loan-to-value ratio for all property debts cannot exceed 100%

Administrative fees are capped at the lesser of 1% of principal financed or $50,000; parishes may administer programs directly or contract with third-party administrators

Property owners must be current on mortgage payments and property taxes to qualify; sellers must provide written disclosure of any program assessment liens to prospective purchasers