WASHINGTON, March 20, 2019 /PRNewswire/ -- C-PACE Alliance, a coalition of large capital providers and transaction experts in the Commercial Property Assessed Clean Energy (C-PACE) industry, announced today the release of version 2.0 of its frequently referenced white paper providing an overview of essential elements for C-PACE statutes and programs.
The Elements of a Well-Designed Statute and Program to Attract Private Capital and Foster Greater Transaction Volumes provides a checklist of recommendations for C-PACE authorizing legislation, program administration and marketing and education.
C-PACE is a program that state and local officials can authorize, allowing property owners to finance improvements in energy and water efficiency and increased resiliency of commercial buildings. C-PACE programs have launched in 23 states and the District of Columbia, with more programs slated for 2019. To date, property owners have financed over $850 million in improvements in more than 1,800 buildings using C-PACE programs.
C-PACE Alliance recommendations are based on its members' investing and advising experience with C-PACE transactions in almost twenty states, totaling hundreds of millions of dollars. Policymakers in Pennsylvania, Illinois, Virginia and New York have relied on the C-PACE Alliance paper for industry input as they design state C-PACE programs.
The C-PACE Alliance paper is intended to help governments understand how C-PACE programs and statutes should be designed by providing an overview of the following:
- Benefits of C-PACE Financing
- Common Goals and Core Principals
- Elements in the C-PACE Authorizing Statute and Program Provisions
- Best Practices in Program Administration
- Marketing, Education and Training
The paper urges state and local officials to consider these recommendations to increase the volume of quality C-PACE closings, leading to the shared goal of environmental and economic development benefits.
Read the full paper here: http://www.c-pacealliance.com/what-we-do/publications/
About C-PACE Alliance
Formed in 2018, the C-PACE Alliance consists of six of the largest C-PACE capital providers along with major law firms, an accounting firm and a fintech company. The C-PACE Alliance articulates and advocates for industry practices that increase the usage and streamlining of C-PACE in order to maximize energy and water savings, resiliency and economic development impact. Visit http://www.c-pacealliance.com/ to learn more.
Contact: Cliff Kellogg
SOURCE C-PACE Alliance