New financing options for commercial property clean energy projects are available thanks to an intergovernmental agreement between the City and County of Denver and the Colorado New Energy Improvement District.
The agreement, adopted by the Denver City Council, allows Colorado’s Commercial Property Assessed Clean Energy (C-PACE) program to be offered within the City and County of Denver. C-PACE offers financing options for clean energy projects on both new projects and renovations of existing buildings.
Through C-PACE, city property owners and developers will be able to access a new financing tool to invest in energy efficiency, renewable energy and water conservation improvements. The voluntary program lowers the cost of third-party financing, which is repaid through the property tax assessment process. A voluntary assessment on the building owner’s property tax bill can provide long-term financing of up to 20 years and stays with the property at the time of the sale, removing traditional barriers to financing projects with payback cycles longer than two to three years.
The full article can be found at www.confluence-denver.com.