PACE, or “Property Assessed Clean Energy”, is a tool that can finance energy efficiency and renewable energy improvements on commercial properties. Lenders can use PACE to fund the upfront costs associated with energy efficiency or renewable energy improvements. The capital is repaid over 30 years through property taxes. The security provided by the tax assessment results in long-term financing and transferability of the repayment obligations to the next property owner.
Overview
Features:
- Lenders & Banks
- Service Providers and Contractors
- Commercial Property Owners
- New Construction
- Redevelopment
- Retroactive Financing
- Seismic Strengthening
- Retrofits
- Storm proofing
- Tenant Improvements
- Renewable Energy Improvements
- Building Expansion
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