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Niagara County Hosts PACE Event

by bbidell

Property Assessed Clean Energy (PACE) program presents new funding opportunities

Tue, Feb 25th 2020 12:50 pm
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On February 11, 2020, Niagara County hosted a learning event on its new Open C-PACE building improvement financing program.  C-PACE (or PACE for short) stands for Commercial Property Assessed Clean Energy.  The program helps property owners access capital for energy efficiency and renewable energy projects in commercial, industrial, and institutional buildings.  PACE is operated on behalf of Niagara County by the Energy Improvement Corporation (EIC).  PACE is a low cost, long-term alternative to traditional loans.  PACE differs from traditional financing because:

  • Financing is available for up to 100% of the project cost or can be combined with other financing
  • Financing is available at competitive rates from EIC-approved private capital providers
  • Loan terms are customizable up to the expected life of the improvements
  • Repayment is secured through a benefit assessment lien on the property
  • Benefit assessment lien is subordinate to municipal taxes
  • Financing automatically transfers to the new owner if the property is sold

You can view a presentation from the event or download a flyer to learn more about PACE.  If you're ready to get started, contact us today at (716) 278-8750 or [email protected]!