VA Attorney General Issues Advisory Opinion Related to C-PACE

On February 1, the Virginia Office of the Attorney General (OAG) issued an Advisory Opinion in response to a request from Loudoun County's Attorney. The OAG's opinion clarifies two key issues with regard to authority under section 15.2-958.3 of state code: 1) local governments may authorize by ordinance third party program administrators or capital providers to perform billing and collecting of C-PACE loan payments; and 2) localities may by ordinance assign rights to capital providers to record and enforce voluntary special assessment liens that underlie C-PACE deals in the event of default.

See the full letter here.