PACE Funding covers 100% of energy project costs
Commercial Property Assessed Clean Energy (CPACE) provides innovative funding for green investment covering up to 100% energy efficiency, renewable energy, and resiliency improvements for new / existing non - government buildings.
CPACE was created to turn a CapEx expense into an operating tax expense. This potentially allows for a project to be off-balance sheet and is designed to eliminate long debt obligations. In most cases, this provides Day 1 positive cash flow with no impact to credit rating. CPACE funding is a complex undertaking with stringent prerequisites that can challenge and stall project execution.
GEMM President of Finance is spearheaded by Abby Johnson, one of nation’s leading PACE and commercial funding experts.
Notably, Abby has crafted PACE legislation, created PACE program guidelines and launched / administered PACE programs for 10 of the 26 Open PACE states. This invaluable experience navigates clients through the complexities of understanding PACE application, approval, and funding process, facilitating a sound and actionable masterplan.
Open PACE markets must first be authorized by state legislation, who then assign a Program Manager to develop and oversee PACE program guidelines. Once implemented, each municipality within the state is required to review and approve PACE for their taxpayers. Since NYC PACE roll out April 2021, record setting CPACE projects of $84 Million and $28 Million dollars have been executed, demonstrating accelerated growth and value of this unique funding approach.