C-PACE New Construction: Green energy solutions for many types of commercial properties

All types of properties are eligible for C-PACE. C-PACE New Construction works for nearly any type of commercial developed property. Everything from manufacturing facilities, offices, retail establishments and other property types can all benefit from C-PACE.

In order to be eligible for C-PACE financing, the property seeking financing must meet certain requirements:

  • The property must be located within a municipality that has passed a resolution and opted in to the C-PACE program. Find out if your town or city allows C-PACE.
  • Applicant must provide evidence that he or she is the legal owner of the property, and all the legal owners of such property agree to participate. 
  • The property must be a nonresidential property – but multifamily properties containing five dwelling units or more are eligible. 
  • The property must have a property tax identification number. For building owners who are exempt from property tax liability, the municipality can issue a property tax ID for collection purposes.
  • The property owner must provide evidence that the mortgage holder (or holders) on the property consents to the C-PACE assessment. Connecticut Green Bank will work with the mortgage holder to gain consent.
  • Borrowers must complete and sign a disclosure of risk form summarizing the risks for C-PACE financing.