Open C-PACE (Commercial-Property Assessed Clean Energy) is now available in Monroe County! Monroe County passed a local law enabling C-Pace and became a member of the Energy Improvement Corporation (EIC) in 2021. By participating in Open C-PACE, commercial and non-profit building owners are able to invest in energy upgrades to their buildings or build new construction to higher energy standards using private capital from participating lenders, thus allowing property owners to improve their properties, lower operating expenses, and positively impact their communities.
Open C-PACE differs from traditional bank loans:
- Financing is available for up to 100% of the project cost, or can be combined with other financing
- Competitive private financing from EIC-approved capital providers
- Customizable loan terms up to the expected life of the improvement(s) (generally 20-30 years)
- Automatically transfers to new owner upon sale of property
- Available for energy efficiency and renewable energy measures (Projects are qualified according to NYSERDA’s C-PACE Guidelines)
For more information visit: https://www.eicpace.org/
To see if your project is eligible visit: https://www.eicpace.org/financeapplication
NYSERDA Guidance: https://www.nyserda.ny.gov/All-Programs/Commercial-Property-Assessed-Clean-Energy
To Learn about C-Pace in the City of Rochester visit: https://www.cityofrochester.gov/CPACE/
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