C-PACE Comes to Town

C-PACE Comes to Town

Tuesday, February 16, 2021 Buildings Commercial Project Development Project Finance 0

C-PACE is Now Available in Rochester

The City of Rochester entered the New York State EIC-PACE program on February 5, 2021. This means that projects seeking PACE financing can now be submitted to the program. Contact us for assistance with this.

What You Need to Know About PACE in Rochester

In New York State, PACE is:

  • Commercial only (includes office, retail, 5+unit multifamily, industrial, agricultural, and institutional/nonprofit buildings)
  • The typical project size is $400,000+ (smaller projects may qualify for on-bill financing)
  • Administered by EIC-PACE, a nonprofit local development corporation owned by its member counties and municipalities)
  • Provides up to 100% of hard and soft costs for eligible upgrades
  • Must be approved by mortgage holders (if any)
  • Fixed-interest rates for terms up to 20-30 years, tied to the average useful life of the improvements
  • Typically cash-flow positive from day one through energy cost savings
  • Must reduce carbon emissions

Contact us for assistance with financing for your project.

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