The City of New York has endorsed PACE (Property Assessed Clean Engergy) legislation to enable the flow of private capital to property owners. The program allows private capital to provide 100% long-term, fixed-rate financing for energy efficiency, resiliency, water conservation and sustainability upgrades through a special tax assessment.
New York City advocates for C-PACE (Commercial Property Assessed Clean Energy) by adopting their underlying financing program. This makes NYC property owners eligible for obtaining C-PACE financing that provides capital for modernizing commercial buildings or developing new commercial assets with clean energy, water conservation and renewable energy improvements. As a proven financial instrument, C-PACE programs promote the use of clean sustainable energy by facilitating energy saving upgrades to commercial and multifamily properties.
CastleGreen Finance, in conjunction with C-PACE in New York City, facilitates energy efficiency project investments for their clients to further promote the use of clean sustainable energy and resource conservation.
NYC PACE is designed to help commercial properties of all types, from multifamily, office, industrial, retail to mixed-specialty investments. PACE-NYC programs place an emphasis on environmental impact.