Skip to main content

A state-sponsored program to finance energy-efficient improvements in older buildings is gaining interest across the country. Chris Ellis, director of business development – Ohio, for Greenworks Lending, is promoting the Commercial Property-Assessed Clean Energy (C-PACE) program designed to make energy-efficient retrofits more affordable for developers. “We can offer long-term financing, and with minimal payments you could potentially be cash-flow positive on those energy improvements from day one” Ellis said, during the recent Pittsburgh Mastermind meeting. The upgrades are repaid as a benefit assessment on the property tax bill over a term that matches the life of the improvements, from 20 to 30 years, depending on the specific state’s program. More than 35 states have C-PACE programs. Greenworks lends in about 21 states, including Pennsylvania, which covers commercial property but not multifamily, single-family and government structures.

Leave a Reply

We help accelerate deal discussion and
follow-up by making it efficient,
accountable & measurable.

We provide senior commercial real
estate and development professionals a
meaningful way to exercise their
relationships.

We help you build trust and improve
credibility with the people you think
are important.