C-PACE Financing in Kentucky

PACE Equity Finance funds C-PACE loans in Louisville and other cities in Kentucky

Commercial Property Assessed Clean Energy (C-PACE) provides fixed-rate, non-recourse private capital with amortization terms of up to 30 years, used for recapitalizations, retrofits, and new development. It is repaid through a transferable, non-accelerating property tax assessment.

C-PACE Status: Active Program
Max Term: 30 years
Max LTV: 35%
Refinance Availability: 3-year lookback
Spring House Senior Housing picture

$4 million in C-PACE financing to pay down construction debt on senior living redevelopment. Louisville, Kentucky.

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KY PACE

The Kentucky C-PACE Program is administered by Energize Kentucky. The program in Louisville-Jefferson County is known as the Louisville Energy Project Assessment District (EPAD). Additional counties with C-PACE legislation include Jefferson, Bullitt, Nelson, Boone, Pendleton, and Lincoln among others.

Kentucky C-PACE Financing Parameters

Property Types

Multifamily, Senior Housing, Industrial, Hospitality, Retail, Office, Storage

Eligible Projects

Renovation, Redevelopment, Refinance, New Construction, Renewable Energy

Term

Up to 30 years.

Amortization

Fully amortized over the term.

Interest Rate

Fixed rate over the term; spread over a 10-year UST.

Capitalized Interest

No payments during the construction period.

Recourse

Non-recourse, completion guarantee (on New Construction and major redevelopment).

Repayment

Paid through an annual or semi-annual tax assessment on the property.

Prepayment

Prepayable at any time, subject to step-down prepayment premium. No lockout.

LTV

Up to 35% property value.

DSCR

1.10 – 1.30 at stabilization.

Funding Time

Construction, Mid-Construction, Refinance — up to 3 years after completion.
Download C-PACE Tear Sheet

Kentucky C-PACE Financing Case Studies

Riverhaus

Riverhaus

$4.4 Million
Covington, KY
  • Multifamily
  • New Construction