C-PACE Operational Change from Municipal to Administrator Billing and Collection
The Connecticut Green Bank Board of Directors has approved a key operational change to the C-PACE program. Beginning with the July 1, 2021 collection cycle, the Green Bank, with the support of Alter Domus (formerly Cortland Capital Markets), will bill scheduled payments for benefit assessment liens and directly collect funds from property owners to the Concentration Account. The Green Bank will be responsible for calculating delinquency fees in the manner of property taxes and for making that information available to Capital Providers with delinquent payments. All other municipal responsibilities and obligations to the C-PACE program remain unchanged. The Green Bank has reached out to Capital Providers to notify them of this operational change..
The following documents, including redlined versions of current documents and new documents, reflect the changes to the program. If you need a Word version of any of the documents below or would like to discuss any questions or concerns, please reach out to Catherine Duncan.