Project:
C-PACE Program Checklist – Property Owners
The Commercial Property-Assessed Capital Enhancement (C-PACE) program is meant to qualify projects
eligible for private sector financing through low-cost, long-term loans to pay for energy
efficiency improvements, water efficiency improvements, and renewable energy systems.
Steps to a Successful Project
□ Project Discussions
Discuss your project with the C-PACE program
□ Application Submission
Application can be found on program’s website at www.LastBestPACE.com
□ Energy Assessment
Conducted by an appropriate certified professional to establish the project’s Cost Effectiveness
(savings generated by the project are greater than the costs of the project). Costs can include
Energy Assessment fees and financing costs – principal, interest, and fees.
□ Independent Third-Party Review (ITPR)
Borrower selects a licensed engineer with the relevant professional certifications and no financial
interest in the project, to review the Energy Assessment to ensure the project’s Cost Effectiveness
requirements are met.
□ Secure Financing
Work with a lender to secure the financing for the project. Borrower selects the lender (must meet
program’s Eligible Lender requirements) and negotiates loan terms.
□ Senior Lender Consent
Borrower obtains written consent from any senior lender(s), ensuring the senior lender(s)
understand and agree with a tax assessment lien being placed on the property.
□ C-PACE Program Project Approval
Program reviews documents and process to ensure statutory program requirements are met.
□ Loan Documentation / Closing
Work with lender and C-PACE program to get proper documentation in place then proceed to loan
closing
□ Complete Project
Ensure project is completed properly. Contractor who completed project must submit written
verification that the project was properly installed and is operating as intended.
□ Loan Repayment
Pay assessment as billed on Property Tax Statement. Local Government provides loan payment funds to
C-PACE program, which then submits the required payment to the lender.
Last modified: May 21, 2024
