C-PACE Financing
C-PACE (Commercial Property-Assessed Clean Energy) is one of the many innovative funding strategies GEMM offers, but the one we most highly recommend. C-PACE is low risk, high reward, proves excellent return on investment, allows for flexible balance sheet treatment, and many more benefits.
What is C-PACE
Available for new and Retroactive Projects
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C-PACE is a State-level policy that classifies clean energy upgrades as a public benefit – like a new sewer, water line or road. It encourages property owners to access capital for energy efficiency, water conservation, and renewable energy projects through a long-term financing agreement with little to no up-front costs. C-PACE financing covers up to 100% if eligible project costs through a voluntary assessment on the property, and is paid through the owner's property tax bill.
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C-PACE can also re-finance projects that have recently been completed or are under construction, freeing up capital for your core business operations and additional projects.
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How C-PACE Works
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Programs enacted by states and municipalities
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Funds up to 100% eligible costs or 20-30% of total building value
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Financing repaid overtime via voluntary assessment added to property tax bill
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Non recourse: private loan is secured by tax assessment, not property or guarantor
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Senior to all other debt (including mortgage)
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Can provide low-cost alternative to developer equity or mezzanine debt
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