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What is C-PACE? – Commercial PACE Finance

Apply for C-Pace Funding

Thank you for your interest in Commercial Pace Finance LLC and C-Pace Financing. Please follow the instructions below to begin the process. Once we receive the application form, we will proceed with an evaluation and reach out to you discuss further details and qualifications.

The Process

  1. Click on the image below to Download the Application Form PDF.
  2. Fill out the form and save it as a pdf for upload. (or print it for fax)
  3. Then go to our Application Page to upload the document. Or view alternate methods.
APPLICATION
SOCIAL: Call us: 215-372-2305 Fax: 215-454-6628 info@commercialpacellc.com

What is C-PACE?

What is C-PACE?

C – PACE is the commercial form of PACE – Property Assessed Clean Energy – it provides an innovative way for commercial property owners to finance energy efficiency upgrades, renewable energy projects and even water control measures for their properties.

Commercial property assessed clean energy (C – PACE) enables local governments to finance energy efficiency upgrades using land – secured special assessments. Property owners can agree to have assessments levied against their property in exchange for receiving up – front capital for energy efficiency improvements.

In return for receiving up – front capital to finance qualifying energy efficiency and clean energy improvements, property owners approve having assessments levied for their property.

While the C – PACE financing market is in the early stages of development, it is estimated that the investment opportunity in commercial energy efficiency exceeds $270 billion over the next 10 years, translating to over $1 trillion in energy savings, over $3 million and 600 million fewer metric tons of carbon emissions per year.

Private investors, in alliance with local governments, provide and arrange PACE funding for the entire cost of the project. There are no upfront expenses for the property owner, and owners can repay with an assessment over a term of up to 30 years.

C-PACE is eligible for all kinds of commercial properties including, Hospitals, Health facilities, Hotels & Motels, Office Buildings, Restaurants, Shopping Centers, Retail Spaces, Warehouses, as well as Government Facilities and Non-Profits.

Convenient Repayment

Property owners pay for the improvements over time – up to 30 years!

Obligation Transfer

Repayment obligation transfers automatically to the next owner if the property is sold.

Financing Availability

Available for almost every type of commercial, industrial, non-residential property, regardless of size, and may be available for government facilities and non-profits.

Loan Financing

Commercial PACE Finance offers low – interest, long – term C-PACE capital without the need for government financing.

Eligible Upgrades

Energy efficiency and energy generation improvements, including:

  • Renewable energy systems: solar, CHP, wind
  • Heating ventilation air conditioning (HVAC) upgrades
  • High efficiency chillers, boilers, furnaces, water heating systems
  • High efficiency lighting
  • Building automation (energy management) systems
  • Building enclosure/envelope improvements
  • Water Conservation

Note: In some states earthquake, structural resiliency and hurricane hardening qualify.

Key Benefits

  • Assessment costs and savings can be shared with tenants
  • Attractive lease opportunities
  • Can be treated as an off balance sheet item
  • Extended payback projects and deeper funding since PACE assessments are secured by property and can transfer to the next owner
  • Immediate positive cash flow and higher NOI (net operating income) with energy savings
  • Long – term assessment – up to 30 years –
  • Low interest rates because the tax collection mechanism is well understood and considered secure
  • No upfront cash required
  • Property value appraisal
  • Positive environmental impact

PACE Assessments

C-PACE assessments demonstrate a strong security structure.

  1. Are senior to all non – tax liens, including mortgages;
  2. Are small compared to the value of the related property, with maximum lien – to – value (“LTV”) for PACE assessments usually not exceeding 30%;
  3. Constitute liens against the entire property, not just specific improvements installed and funded under the PACE program;
  4. Do not accelerate in case of foreclosure; only current amounts and amounts in arrears are due;
  5. Have equal lien priority with real estate taxes and other special assessments.