C-PACE Financing Parameters
C-PACE Financing Parameters
| Property Type | Commercial only*; no Residential Properties |
| Geography | All states with PACE-enabling legislation and active C-PACE Program Administrators |
| Min. C-PACE Deal Size | $300,000 |
| Max. C-PACE Deal Size | $50,000,000 |
| Min. Term (years) | 10 years |
| Max. Term (years) | 30 years (in California); otherwise 20 years |
| Max. LTV (including C-PACE Lien) | Up to 95% |
| Max. C-PACE Lien to Value | Up to 25% |
| Min. SIR (Savings-to-Investment Ratio) | 1.0x |
| Property Taxes | Current, without delinquency over last 5 years |
| Years property free from a bankruptcy | 5 years |
Documentation Required for Underwriting:
| Appraised Value @ Completion | Yes |
| Phase I Environmental Report | Yes |
| Title Report | Yes |
| Energy Engineering Report (quantifying savings) | Yes; RAHILL Capital will assist |
| Entity Authorization Documents | Yes |
| Years of Operating Financial Statements | Historical 3 years, or Projected 3 years |
| Mortgage Loan Agreements or Term Sheets | Yes (prefer both secured and unsecured) |
| Executed Mortgage Lender Consent | Yes; mandatory |
| Evidence of Commercial Property Insurance | Yes |
| Construction Contracts (GC and/or Subs) | Yes |
| C-PACE Program Administrator Final Application | Yes |