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News & Press: Advocacy News

BOMA Supported But Failed to Pass - C-PACER Financing

Tuesday, April 30, 2019   (0 Comments)
Posted by: Christine Miclat
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Local government and local lenders cooperate on loans secured by the property tax obligation, similar to a local improvement district. The debt does not appear as an obligation on the building owner’s balance sheet and the repayment obligation stays with the property rather than the owner whenever the building is sold.  C-PACER financing would enable low-cost, long-term funding for commercial energy efficiency, renewable energy and resilience projects such as earthquake reliance improvements on unreinforced masonry buildings in Washington State.

 

How Does Commercial PACER financing work?

Local government and local lenders cooperate on loans secured by the property tax obligation, similar to a local improvement district. The debt does not appear as an obligation on the building owner’s balance sheet and the repayment obligation stays with the property rather than the owner whenever the building is sold. Many such loan programs do not require money

down. Loan payments are largely offset by lower utility bills and lower insurance premiums.
  • C-PACER or Commercial Property Assessed Clean Energy & Resilience financing would allow more property owners to make long-term investments that reduce environmental impact than they otherwise could with limited capital.
  • PACE is a proven financial structure which has been deployed in 30 states since its inception in 2008, including nearly $3 billion in PACE loans made in California alone.
  • C-PACER financing would help achieve climate goals.
  • Access to C-PACER financing will likely enable seismic retrofit, fire protection or flood readiness (resilience) projects to occur that wouldn’t otherwise. Over time, these projects help protect lives.

 

 

C-PACER Information

 


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