Commercial Property Assessed Clean Energy (C-PACE) is a financing solution offering fixed-rate, non-recourse private capital with up to a 30-year amortization. Available for recapitalization, retrofits, and developments, repayment is made through a non-accelerating property tax assessment on the property which is transferable upon sale or prepayable at any time.
$10 million C-PACE financing covers tenant improvements for mixed-use development. Pittsburgh, Pennsylvania.
C-PACE programs in all counties outside of Philadelphia are administered by Pennsylvania C-PACE (PA C-PACE). Philadelphia’s C-PACE financing program requires the approval of the Philadelphia Energy Authority (PEA) in addition to standard measures such as energy efficiency, water conservation, renewable energy, resiliency, and indoor air quality (IAQ). Multifamily units (5+ units) are eligible for C-PACE financing. Pennsylvanians throughout the state, including Pittsburgh, can use the Sustainable Energy Fund’s (SEF) educational resources to further their carbon-conscious financing goals. In addition, retroactive refinancing is available for projects up to two years past certificate of occupancy.
