News & Press: Industry News

Denver Approves C-PACE Program

Tuesday, October 18, 2016   (0 Comments)
Posted by: Jeannie Bernard
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Last week Denver City Council approved an ordinance to allow the offering of Colorado’s Commercial Property Assessed Clean Energy (C-PACE) program within the City and County of Denver. C-PACE offers financing options for building energy efficiency and clean energy projects in both new and existing buildings. Through C-PACE, property owners and developers across Denver will be able to access a new financing tool to invest in energy efficiency, renewable energy and water conservation improvements. The voluntary program lowers the cost of third-party financing, which is repaid through the property tax assessment process. Participants receive capital to finance eligible improvements, and repayment is collected through the property tax assessment process (a voluntary assessment is placed on the building owner’s property tax bill). The assessment can provide long-term financing of up to 20 years and stays with the property at the time of sale, removing traditional barriers to financing projects with payback cycles longer than two to three years. Building owners and managers should go to: http://copace.com/building-owners/owners-faqs/ for more information.

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