Commercial Property Assessed Clean Energy (C-PACE) provides real estate developers and property owners with an innovative tool to finance construction projects within existing buildings or new construction. With funding from private capital sources, the C-PACE program is modeled after other funding methods used to fund public benefits and infrastructure. The following benefits and uses are typical of projects in California. Each project is different and our team will work with you to determine how much C-PACE you can obtain and for which costs.
Qualified C-PACE Uses
Energy Efficiencies
HVACR and Controls
Air Sealing & Ventilation
Charging Stations
Chillers
Compressed Air
Elevator Modernization
HVAC
Insulation
Lighting
Refrigeration
Roofing
Water Heating
Windows
Lighting & Electrical
Water Efficiency
Aerators Fixtures
Irrigation
Landscaping & Reuse
Paving
Water Retention Systems
Renewable Energy / CoGen
Associated Soft Costs such as permits, Architectural & Engineering Plans
Cogeneration
Fuel Cell
Renewable Fuels
(microturbine, internal combustion engine)
Solar
Wind
Property Owners and Developers use C-PACE financing to replace equity or mezzanine debt in their capital stack. In addition to offering a significantly lower cost of capital, C-PACE offers compelling benefits, including the ability to pass through the cost of the payments to tenants, no operating covenants, and off-balance sheet financing. C-PACE works well with various forms of financing including traditional bank mortgage loans, federal or state historic tax credits, new markets tax credits, and other tax abatement financing. We are adept at working with projects that have a complex capital stack.
More Benefits
Funding for up to 25% of the building’s 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
