To use C-PACE, a Property Owner must follow these steps:
In Philadelphia, C-PACE financing is available for commercial properties in good standing. The minimum C-PACE project size is $100,000.
Learn more on the Eligibility page.
Complete the Pre-Application
Submit the Pre-Application to PEA, which can be found on the Program Resources page. Pre-Application review is typically completed within five (5) business days of receipt.
Following PEA’s approval of the Pre-Application, Property Owners develop their C-PACE project. Key project development steps include obtaining a project survey, negotiating a financing agreement with a C-PACE Capital Provider, and securing consent from all mortgage and lien holders.
Submit Final Application
When the development work for the C-PACE project is substantially complete, Property Owners should submit the Final Application (which can be found on the Program Resources page) and its supporting documents. Final Application review will typically be completed within fifteen (15) business days of receipt.
Execute C-PACE Statement of Levy and Lien Agreement
After PEA approves the Final Application, the Property Owner, C-PACE Capital Provider, City of Philadelphia and PEA will execute the C-PACE Statement of Levy and Lien Agreement, which memorializes the C-PACE Special Assessment for the public record.
Close Financing & Execute Project
Financing will close and funds will be made available for the C-PACE project on or after the date on which the C-PACE Statement of Levy and Lien Agreement is recorded. Once financing has closed, the Property Owner will have the funds to move forward with project implementation.
What is C-PACE?
C-PACE is a financing structure that allows commercial property owners to borrow money for energy and water efficiency, IAQ, and resiliency improvements, or renewable energy installations, via a special assessment similar to a property tax assessment.Learn More