Monroe County Legislature Approves C-PACE

Monroe County Legislature Approves C-PACE

Friday, June 11, 2021 Buildings C-PACE Carbon Commercial Project Finance 0

UPDATE: Monroe County’s C-PACE program is available immediately, according to a press release issued by Adam Bellow’s office on July 7:

Monroe County Executive Adam Bello today announced that commercial building owners and developers in the county can now apply for financing to make energy upgrades through a program called OPEN C-PACE.

https://www.monroecounty.gov/files/news/7.7.2021%20Open%20CPACE.pdf


On June 8, 2021, the 29-member Monroe County Legislature voted unanimously to approve the local C-PACE law.


Monroe County Executive Adam Bello

Monroe County legislators have approved the Sustainable Energy Loan Program (Open C-PACE) law proposed by County Executive Adam Bello and announced in his first State of the County address on June 7, 2021 (Video at minute 30).

Dr. Joe Carbone

The 29-member Republican-majority County Legislature, led by Dr. Joe Carbone, approved the proposal by a voice vote, with no dissent, on June 8 (Video, at hour 1:09).

Like all jurisdictions in New York State except New York City, Monroe County is appointing Energy Improvement Corporation (EIC) as its C-PACE administrator.

With a population of approximately 742,000, the county has a robust and growing economy that employs more than 360,000 people. According to DataUSA, “The largest industries in Monroe County, NY are Health Care & Social Assistance (64,383 people), Educational Services (54,388 people), and Manufacturing (41,312 people).” The county also has an extensive list of resources for business.

Commercial property owners who have completed eligible energy improvement projects on existing buildings in the past three years, or have developed new energy-efficient structures in the last two years, may be able to recover the capital costs of such improvements and refinance them at favorable terms for up to 30 years.

Interested property owners and energy services companies are invited to call us at 908-507-3150.

Stay up to date with the latest information on C-PACE in the Greater Rochester Region by subscribing to our posts. Contact us if you have projects or other items of interest.

Possible Rochester is an initiative of Possible Planet, a 501(c)(3) For-Impact Organization. We are a nonprofit C-PACE originator, concierge, and consultant, operating within the rules and guidelines of the PACE Administrator(s) and the jurisdictions in which we originate projects. In addition to saving money on energy for commercial property owners, Our goal is to bring the benefits of jobs, economic development, and carbon emissions reductions to the communities where they are located.

 

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