WESTERN RIVERSIDE COUNCIL OF GOVERNMENTS
COMMERCIAL PACE
Property Assessed Clean Energy (PACE) programs offer property owners fi nancing options for energy effi ciency, water conservation, and seismic strengthening improvements. www.wrcog.us
C-PACE BENEFITS
ELIGIBLE IMPROVEMENTS
» Funding for up to 20% of construction costs
» Financing is tied to the property
» New construction is eligible for up to 30-year fi nancing term » Refi nancing look back option
PACE can be used to refi nance previously installed
eligible products, going back 3 years
» On average, lower interest rate than other mezzanine fi nancing » No upfront costs
» Frees up equity
» Renewable energy systems
» Water conservation/effi ciency
» Energy effi ciency
HVAC, windows, roof, lighting, automated controls
» Seismic strengthening
» Fire hardening
» Approved custom eligible products
Energy management systems, battery storage, electric vehicle charging
PROPERTY ELIGIBILITY
» Property cannot be in default
» Property must be current on property taxes
» Total fi
market value
C-PACE HIGHLIGHTS
CASE STUDY
Casey Dailey, Director of Energy & Environmental Programs [email protected] - (951)405-6720
nanced amount must not exceed 20-35%* of the property market value *Limitations are dependent upon the provider
» Annual property tax and assessments cannot exceed 5% of the property’s » West Coast Exotic Cars in Murrieta
$ 2.9 Million in C-PACE Financing
» Hotel Cerro in San Luis Obispo
$10 Million in C-PACE Financing
» Pullman Lofts in Santa Rosa
$ 8.6 Million in C-PACE Financing