What is C-PACE?
Property Assessed Clean Energy (PACE) provides real estate developers and property owners with an innovative tool to finance energy efficiencies, renewable energy projects and water conservation upgrades within existing buildings or new construction.
- PACE covers 100% of the improvement costs
- Covers up to 25% of a buildings value
- Repaid via Property Tax Assessment (for up to 20-30 years)
With funding from private capital, the PACE program is modeled after other funding methods used to fund public benefits and infrastructure.
- Funding for up to 25% of the building value
- No personal guarantees
- Up to 30 year fixed-rate funding
- Lower rates/cost than mezzanine debt or equity
- No payments for up to 2 years
- No principal repayment required upon sale
- Ability to pass through tax assessment to tenants or hotel guests
PACE can fund a wide variety of improvements
- HVACR and Controls
- Lighting & Electrical
- Building Envelope
- Water Efficiency
- Renewable Energy / CoGen
- Associated Soft Costs
- And much more!
Commercial landlords are able to pass through some or all of the increased property taxes to tenants in a true “win-win” formula for generating lasting property value.