Zeroing In on CIRRUS C-PACE’S Partner Network
Commercial Property Executive recently published an article featuring our own Tricia Baker, Senior Vice President of Strategy and Impact.
PACE Equity is partnering with the United States’ foremost green building organizations, including the U.S. Green Building Council (USGBC), creators of LEED (Leadership in Energy and Environmental Design), the world’s most widely used certification program. The CIRRUS C-PACE program offers a significant rate reduction, rewarding developers who commit to reductions in carbon impact.
“Our objective was twofold: to help developers enhance project economics and to expand market adoption of CIRRUS C-PACE financing,” Tricia Baker, SVP of Strategy and Impact, told Commercial Property Executive.
CIRRUS C-PACE financing can cover projects in all phases of construction, renovations, redevelopments, rehabs, retrofits, and renewable energy projects. Funding amounts are determined by the costs of eligible measures, including all building components that impact utility costs, such as windows, HVAC, elevators, envelope, lighting, water heating, and, in some states, resilience measures. Recently renovated LEED projects are also eligible for PACE Equity funding using CIRRUS C-PACE for refinancing.
“Our teams worked together to map LEED requirements to the CIRRUS Design Specification, ensuring full alignment around performance thresholds related to energy efficiency and carbon reduction,” she detailed. “As part of our financing process for these projects, our internal engineering team collects documentation already generated during the LEED certification process to verify eligibility and streamline financing approval.”