From office buildings to multi-family properties and manufacturers, C-PACE financing can help owners improve their properties as well as their tenant and client experienced. Read how the owners of this office building in Rockville, MD achieved their goals.
C-PACE is a flexible tool that can finance the installation of cutting-edge green technologies but also the often overlooked but all too important maintenance measures that property owners find difficult to finance. Read how the owner of this large apartment complex saved cash by using C-PACE to finance the necessary replacement of 11 boilers.
The opportunity for C-PACE financing to support a variety of property types is best exemplified in mixed-use properties. Read how the owner of this mixed-use property improved the marketability of the tenant businesses while decreasing operational expenses by using C-PACE to finance a broad range of improvements.
What is C-PACE?
C-PACE is a government policy based on the principle that commercial energy projects - such as installing equipment or improving a building’s heat recovery system – are public benefits similar to sewers, roads, and bridges. Montgomery County passed Council Bill 6-15, Commercial Property Assessed Clean Energy Program (PACE) on March 31, 2015. C-PACE authorizes jurisdictions to allow private capital providers to provide upfront financing to commercial property owners for qualifying improvement projects, and to collect the repayment through annual or semi-annual surcharges on the property’s tax bill. By lowering the property’s energy expenses, C-PACE makes the building more inviting to tenants and, consequently, more valuable.
Benefits of C-PACE
increased property value
lower utility bills
Assists in reaching Montgomery County’s goals of carbon neutrality by 2035.
No TaxPayer Burden
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