The Energy Efficiency Financing Debt Cap Emergency Declaration Resolution of 2025 addresses the urgent need to amend the Energy Efficiency Financing Act of 2010 by removing the existing $250 million cap on the principal amount of bonds that the District of Columbia can issue for the Commercial Property Assessed Clean Energy (C-PACE) Program. This program facilitates private financing for energy efficiency and renewable energy improvements, allowing borrowers to repay through a special assessment on their property tax bills. Currently, the C-PACE Program has utilized $184 million of the cap, leaving only $66 million available for additional financing, which is insufficient to meet the growing market demand for energy efficiency projects.

The resolution highlights that the DC Green Bank, which administers the C-PACE Program, has identified a significant opportunity to issue $470 million in bonds for a project at The Geneva, a building set to be converted into residential units. However, this amount exceeds the statutory bond cap. The resolution emphasizes that the bond cap is not a common practice in other jurisdictions and that emergency legislation is necessary to facilitate larger financing deals in the future, particularly with upcoming developments in the RFK site and surrounding areas. The Council has determined that these circumstances warrant immediate action, allowing the resolution to take effect without delay.