Commercial Property Assessed Clean Energy (C-PACE) is an innovative financing solution that makes green energy upgrades accessible and affordable for building owners. It is assessment-based financing that is enabled by Virginia legislation. Where local governments have established PACE programs, property owners may receive PACE loans from private lenders. The City of Fredericksburg has adopted an ordinance to allow C-PACE financing.
Opportunity Zone Program
Two of Fredericksburg, Virginia’s, six Census tracts are part of the federal government’s exciting new Opportunity Zone and Opportunity Fund program. This program provides investors with yet another great reason to invest in our city.
The Historically Underutilized Business Zones (HUBZone) program, administered by the U.S. Small Business Administration, encourages economic development in designated HUBZones through federal contracting preferences.
Main Street Program
The Main Street program is a national network of over 1,600 towns and cities in over 40 states organized by the National Trust for Historic Preservation.
Tourist Oriented Directional Sign Program
Tourist-oriented directional signs provide travelers with directional guidance to an approved business/site location available along City primary or secondary roadways (not interstates).
Rehab Tax Credit Program
The rehabilitation of certain commercial and industrial buildings 40 years of age and older may qualify for partial real estate tax exemption.