Property Assessed Clean Energy (PACE) is a finance tool used to implement energy-efficient improvements on private property. PACE provides access to affordable capital with no upfront costs to make energy efficiency improvements to residential and commercial properties. Extended-term financing allows for the property owner to pay back the loan over time, as well as the potential to increase property values and reduce energy costs.
PACE is a broad, flexible tool that can be applied to individual properties, as well as manufacturing campuses and business districts. The PACE financing model allows for property owners to access affordable capital to make energy efficiency upgrades to their properties by allowing the local municipality to place a special assessment on the property’s tax bill. The debt is associated with the property, not the property owner, and therefore is repaid by the property owner via the assessment on the tax bill, making the costly energy efficiency upgrades affordable in the long term.
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Interested in learning about this flexible energy efficiency financing tool? This section contains resources on understanding the basics of PACE.
Legal, Policy & Regulatory ConsiderationsMembers only Login
In order for PACE programs to be successful, there are a complex set of legal requirements and financial guidelines that must be taken into consideration. These policies allow the tool to function as well as bring about financial viability for the properties involved. During this session, Caleb Bell will outline the legal and policy necessities that must be met for successful implementation of PACE.
PACE Financing OptionsMembers only Login
David Rogers explores the many starting funds that can be used for capitalization options for the initial investments into a PACE district, including bonds, grants, loans and more. David also focuses on the process of issuing PACE bonds.
Search the map below to find Property Assessed Clean Energy (PACE) programs by state. This specialized search is part of CDFA's State Financing Program Directory
, the only online resource cataloging the development finance programs offered by state governments. Click on a state to see a sample of programs available. Login with a CDFA Member account at the top of the page to view full results.
Introduction to C-PACE in New YorkMembers only Login
Commercial Property Assessed Clean Energy (C-PACE) provides long-term, low-cost financing for energy efficiency improvements and renewable energy projects for commercial buildings. Unlike traditional financing, repayment is secured through a benefit assessment lien that is subordinate to municipal taxes, but senior to all other liens. Financing automatically transfers to a new owner if the property is sold.
CDFA – Bricker PACE Webinars: New Construction C-PACE Projects
This is the fourth and final webinar of the CDFA-Bricker PACE Webinar Series: New Construction C-PACE Projects. Speakers included: Ethan Elser Sr with PACE Equity, Abby Johnson with Abacus Property Solutions, and Charlene Heydinger with Texas PACE AuthorityOhio PACE and the webinar was moderated by Chris Jones from Bricker & Eckler LLP.
CDFA Food Finance White Paper Series: Food Systems & Targeted Tools
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This white paper is part of a series examining the potential creation of a food systems asset class which supports the market growth of local and regional food systems. This paper focuses specifically on targeted financing tools that can be used to geographically target local and regional food system developments.
Practitioner's Guide to Economic Development Finance
The Practitioner's Guide to Economic Development Finance 2nd Edition is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities. From bonds, tax increment finance and special districts to tax credits, seed & venture capital, revolving loan funds and much more, this Guide outlines the financing tools required for succeeding in today's competitive economic development climate.
Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency
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Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency (Handbook) serves as a companion to the Practitioner’s Guide to help illuminate the structures of development finance agencies (DFAs), essential conduits to access development finance tools. The Handbook provides an overview of DFAs and their myriad roles in various development efforts. Included in this discussion is a comprehensive look at over a dozen high-performing DFAs throughout the country. The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.
The Intro Property Assessed Clean Energy (PACE) Finance Course
will explore the process of creating, operating and maintaining a community based PACE program. This two day course will feature a comprehensive overview of PACE including program design, capital markets analysis, investor attraction, legal and regulatory considerations, market potential, operations and much more. CDFA's Intro PACE Finance Course will put your community on the path to energy independence while creating jobs and improving the environment.
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Weekly Development Finance COVID-19 Briefing
Every Friday, March 27 - May 29, 2020
1:00 PM Eastern
CDFA will be hosting a weekly briefing about development finance COVID-19 news and resources. These one-hour phone calls will feature legislative updates, news from our members, state and local financing strategies, and lessons learned from previous development finance responses to disasters.
CDFA Federal Policy Conference (cancelled)
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April 14-15, 2020
The federal government plays a critical role in driving private and public investment in innovation, job creation, infrastructure, and community development. With the 2020 presidential election quickly approaching, development finance will be a key policy issue across the nation. The 116th Congress will also play a major role in shaping our country’s economic development policy going forward. It's up to the development finance community to focus the national discussion on smart federal policy, and CDFA is the voice of the economic development finance community on Capitol Hill. For these reasons, CDFA will host its CDFA Federal Policy Conference on April 14-15 in Washington DC.