Affordable financing for property owners

Commercial Property Assessed Clean Energy & Resilience (C-PACER) is an innovative financing program that enables owners of commercial and industrial properties to obtain low-cost, long-term financing for energy efficiency, renewable energy and resilience projects and then pay the costs back over time through a voluntary assessment on the property tax. The municipality or tax assessment district is then repaid by a special voluntary tax assessment on the property. In this way, the loan goes with the building, not the individual who initiated the transaction.

C-PACER is an excellent example of public-private partnership and helps fuel economic growth in our community. Development can derive immense benefit from the private capital offered through the C-PACER program, which is good for our economy, jobs and business growth.

Next steps

In states like Connecticut, the Green Bank provides the dollars that municipalities use for PACE loans. These municipalities pay the Green Bank back as the special tax assessments on the improved properties are collected. A similar set-up could work in Alaska as well, for remaining boroughs and municipalities who have not yet implemented C-PACE.