2B — October 30 - November 12, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal Mid Atlantic Real Estate Journal 4x4.25 h_Layout 1 1/17/19 7:43 PM Page 1
TOTAL SUPPORT AFTER A PROPERTY LOSS
O wners , D evelopers & M anagers Evolution Energy Partners Healthy Buildings with C-PACE: A Feasible Financing Strategy T over a longer period versus a traditional loan.
M. MILLER & SON L ICENSED PUBL IC INSURANCE ADJUSTERS SINCE 1960
Owners, Developers &Managers Evolution Energy Part- ners is currently an ap- proved C-PACE contrac- tor in multiple programs across the country. MAREJ to PACENation market data, 37 states and the District of Columbia have passed laws enabling CPACE programs as of 2019. However, only 22 states plus D.C. have active C-PACE programs in operation. Approxi- mately $1.5 billion in financ - ing has been provided to over 2,000+ commercial buildings. To get started on your next C-PACE funded project, reach out to a local approved contrac- tor that will provide detailed engineering and project eco- nomics for a C-PACE-funded project.
he Commercial Prop- erty Accessed Clean Energy, or C-PACE, is a unique public-private financing program designed to help com- mercial, industrial, non-profit, multifamily, and agricultural property owners and real estate developers fund large scale en- ergy efficiency and renewable energy projects. How does C-PACE work? A property owner borrows money from a private lender to pay for a large-scale energy efficiency project and makes the loan repayments using a portion of the project savings. The repayment is made in the form of a temporary assessment charge added to their property tax bill. Several types of energy conservation measures can be included in a C-PACE project, such as LED lighting, solar arrays, HVAC equipment, in- telligent thermostats, building envelope solutions, and much more! How is C-PACE different than other financing options? 100% of the hard and soft costs of the project are funded up front by the loan, meaning building owners will enjoy Day 1 savings on all C-PACE proj- ects with no outlay of capital. C-PACE loans last for the rated useful life of the in- stalled equipment (often over 20 years!) allowing the cost of the project to be spread out
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In the event of a property sale, the tax assessment is au- tomatically passed to the new owner, meaning the original borrower is not required to pay off the loan in advance of the sale. Does my business qualify for C-PACE? C-PACE is open to owners of new/existing commercial, industrial, non-profit, multi- family, and agricultural prop- erties in states that have an active program (PA, DE, NY, RI, CT, MD, OH, IL, VA, MA, DC, and more). It is designed for larger projects starting at $1 Million and up. It incentivizes building owners and operators to engage in large-scale green investments with longer-term paybacks because the longer financing term of a C-PACE loan, often 20 years or more, generates ongoing positive cash flow for the owner. C-PACE is a valuable tool for companies looking to adopt or improve the health of their buildings. The program miti- gates risk for business owners while providing the capital needed to make significant Mother Nature-approved up- grades. The program has grown in popularity over the past few years reaching a $670M an- nual investment equal to 150% growth over 2018. According
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