Introduction to C-PACE in New York

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-Commercial Property Assessed Clean Energy (C-PACE) provides long-term, low-cost financing for energy efficiency improvements and renewable energy projects for commercial buildings.

-Unlike traditional financing, repayment is secured through a benefit assessment lien that is subordinate to municipal taxes, but senior to all other liens.

-Financing automatically transfers to a new owner if the property is sold.

Please see full Publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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