Commercial property Assessed Clean Energy (C-PACE) is a state-sponsored financing program designed to give property owners greater access to financing for renewable energy and energy efficiency improvements. C-PACE allows for private financing payments through a county special purpose assessment. The C-PACE assessment obligation is attached to the property. So payments can transfer to future owners/tenants if the property is sold. This unique structure allows owners to modernize building systems and increase property value with no upfront cost, competitive financing rates, positive cash flow, and repayment terms of up to 25 years.
Man, it sure does feel good to do the right thing!
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