Multifamily Retroactive Program Guidelines Revision
Program Guidelines for C-PACE in Philadelphia and the rest of Pennsylvania counties were updated in September of 2022, incorporating the expansion of C-PACE which included eligibility for multifamily rental properties of 5 or more units as well as resiliency and Indoor Air Quality measures.
The Program Guidelines issued then and currently in effect in Philadelphia limit retroactive financing as follows:
“Retroactive C-PACE financings for building types and measures made newly eligible through Act 43 must occur after September 6, 2022 (60 days after the Pennsylvania C-PACE Statute was enacted on July 7, 2022) and within 730 days after the completion of the installation/construction (as proven by the date on the Certificate of Occupancy or other acceptable construction completion documentation). Retroactive financing requirements are detailed in Section 11.0 of the September 2022 Philadelphia C-PACE Program Guidelines.” (Addendum Page 3, page 72 of the PDF).
The Philadelphia C-PACE program will be modifying its Program Guidelines to remove this timing requirement. Instead, all C-PACE eligible projects will be able to use retroactive financing within 730 days after the completion of the installation/construction (as proven by the date on the Certificate of Occupancy or other acceptable construction completion documentation).
The revised Program Guidelines will most likely be issued in August 2023. At that time, PEA will accept C-PACE pre-applications and final applications for retroactive projects that were completed prior to September 6, 2022.
This change is for the Philadelphia program only. If you have a project in another PA county, please contact the SEF team at email@example.com regarding that county’s program guidelines.
Contact firstname.lastname@example.org for questions about the Philadelphia program.