Supporting New Jersey’s Response to Climate-Driven Flood Risks
As flooding events become more frequent and severe in New Jersey, Governor Phil Murphy has recognized the urgency of building resilience into our communities. By declaring August 25–29, 2025 as Flood Safety Week and through the release of the Interagency Council on Climate Resilience’s Statewide Flood Resilience Initiatives Report, the State is signaling its commitment to preparing New Jerseyans for a wetter, riskier future. (Read the Governor’s press release here and see the Flood Safety Week Proclamation for details.)
For property owners, municipalities, and developers, the challenge is clear: how do we adapt our buildings and infrastructure to withstand rising flood risks while maintaining economic vitality? This is where Commercial Property Assessed Clean Energy (C-PACE) financing comes in as a powerful tool.
Expanding C-PACE to Resilience Projects
Under the Garden State C-PACE Program, launched June 30, 2025, property owners can finance more than just clean energy upgrades. The Supplemental Program Guidelines specifically recognize water conservation and resiliency improvements as eligible categories—distinct from energy measures, but equally essential. Importantly, the costs of these resilience upgrades are added to the allowed percentage of C-PACE funds for a project, meaning more comprehensive protection can be financed without straining other budgets.
This means that floodproofing, stormwater management, and water efficiency improvements—long considered too costly to pursue—are now within reach for commercial, industrial, agricultural, and multifamily property owners across the state. Moreover, the costs can be spread over the useful life of the improvements, and in the case of triple-net tenants, shared by the owner and the tenants over that period.
Examples of Eligible Resilience Improvements
Through C-PACE, property owners can invest in:
- Floodproofing and flood barriers (wet- and dry-proofing techniques, elevation of mechanicals, deployable barriers)
- Green infrastructure (rain gardens, bioswales, permeable pavement, tree planting to reduce stormwater runoff)
- Stormwater capture and storage (cisterns, retention/detention systems)
- Water conservation systems (low-flow fixtures, water recycling, irrigation upgrades)
- Backup power and microgrids to maintain essential functions during flood-related outages
Together, these measures help safeguard properties while contributing to community-wide resilience.
A Regenerative Solution for New Jersey Communities
At NJPACE, we see C-PACE as more than just a financing tool—it’s a regenerative solution for urban and coastal communities. By investing in resilience, municipalities can reduce long-term disaster recovery costs, protect tax bases, and attract new investment. Property owners, in turn, benefit from safer, more valuable assets and lower insurance risks.
We urge all New Jersey municipalities to opt in to the Garden State C-PACE program and enable their residents and businesses to access this critical financing mechanism. NJPACE is available to consult with towns and cities on implementation strategies, ensuring that C-PACE delivers maximum benefit for resilience, equity, and economic revitalization.
Moving Forward
As Governor Murphy has emphasized, flood safety is not just about responding to emergencies—it’s about preparing today for the risks of tomorrow. C-PACE aligns directly with this vision, offering a market-based, community-oriented tool to finance the resilience improvements we urgently need.
This Flood Safety Week, let’s commit to building a future where New Jersey’s homes, businesses, and neighborhoods are stronger, safer, and better able to weather the storms ahead.