The proposed resolution, titled the Energy Efficiency Financing Debt Cap Emergency Declaration Resolution of 2025, seeks to address an urgent need to amend the Energy Efficiency Financing Act of 2010. This Act established the Commercial Property Assessed Clean Energy (C-PACE) Program in the District of Columbia, which facilitates private financing for energy efficiency and renewable energy improvements. Currently, the program is limited by a $250 million bond cap, of which $184 million has already been utilized, leaving only $66 million available for future financing. The DC Green Bank, which administers the program, has identified a significant demand for financing that exceeds this cap, particularly for a proposed $470 million bond issuance to support energy efficiency upgrades at The Geneva, a building set to be converted into residential units.

The resolution emphasizes the necessity of emergency legislation to remove the bond cap limitation, as the current constraints hinder the ability to meet market demand for larger C-PACE projects. The DC Green Bank's findings indicate that such a cap is not a common practice in other jurisdictions, further supporting the need for immediate legislative action. The resolution calls for the adoption of the amendment after a single reading, allowing for swift implementation to facilitate the financing of energy efficiency improvements in the District.