Improvements to State’s Commercial Property Assessed Clean Energy (C-PACE) program provide developers, capital providers, and borrowers easier access to financing
Recent changes to the guidelines for Connecticut’s Commercial Property Assessed Clean Energy (C-PACE) program will be discussed during a
webinar on Wednesday, Dec. 7 from 12 to 1 pm. These changes have created enhanced opportunities for developers of new construction, repositioning, and gut rehabilitation projects to take advantage of this innovative financing tool. The webinar will be presented by
the Connecticut Green Bank, the C-PACE program administrator and a lender.
Developers and borrowers can access up to 35 percent of the total eligible construction costs (TECC) in C-PACE financing based on the building’s designed energy performance.
Additionally, C-PACE new construction financing allows developers to:
·
Build more cost-effective, competitive, and higher performing buildings with clean energy technologies.
·
Complete their capital stack and lower their weighted average cost of capital.
·
Afford more efficient and higher quality materials and systems, boosting a project’s long-term sustainability and creating a more attractive
investment.
·
Receive an independent review of the energy modeling and projected energy performance through the Green Bank’s Technical Administrator.
·
Use the HERS index as a pathway to demonstrate that eligible multifamily projects meet minimum energy performance levels.