CBO Financial logo emphasizing expertise in New Markets Tax Credit program for affordable housing development.
CBO Financial logo emphasizing expertise in New Markets Tax Credit program for affordable housing development.
Free Project Analysis

PACE is a New Instrument to Fund Energy-Related Improvements to Commercial Real Estate

Property Assessed Clean Energy Financing

Property Assessed Clean Energy (PACE) is a new instrument for commercial property owners to finance energy efficiency and other improvements to existing buildings, or as gap financing for new construction.

WHAT IS PACE?

Property Assessed Clean Energy (PACE) is a new instrument for commercial property owners to finance energy efficiency and other improvements to existing buildings, or as gap financing for new construction.

To date, 20 states and D.C. have active PACE programs to fund renewable energy, energy efficiency, water conservation, weatherization and natural disaster resiliency improvements. Puerto Rico has a similar program to fund tourism-related projects, where the CBO Team is pioneering its use.

Free Project Analysis
Construction worker using power tools on a wooden beam in a partially constructed building, surrounded by various tools and equipment, illustrating the energy efficiency improvements supported by PACE financing.

Additional Information

We are here to help you with any questions you might have. Feel free to submit a Free Project Analyis Request for more detailed information regarding your specific scenario.

Benefits of Pace
  • No down payment, 100% funding for improvements up to 35% of the building’s value
  • Easy to qualify, since the loan is against the property the owner’s credit is not a deciding factor
  • Fast approval and funding
  • Immediate positive cash flow for energy improvements with no money down, while increasing property value by lowering operating expenses
  • Payments stay with the property if it is sold
  • Off-balance sheet, no mortgage is recorded against the property
  • Better rates and terms due to repayment from tax assessment, up to a 30-year term
How to Apply

How to Apply to Property Assessed Clean Energy (PACE)

  1. Check Eligibility – Contact Us
  2. Complete Initial Application – Download Application
  3. Secure Initial Approval
  4. Finalize Design & Secure Permits
  5. Finalize Loan Documentation & Funds
  6. Complete Project

 

*Property-Assessed Financing approvals are typically provided in 3-7 days. For other programs, you will receive customized options and next steps.

Learn more about these and other programs by contacting our offices today.

[dipi_library_layout id="5596"]