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Tool allows property owners to reduce energy, increase cash
PUEBLO – A meeting discussing how just about any property owner can reduce energy costs with no out-of-pocket expensed and generate immediate cash flow was held on Tuesday, March 2.
The public meeting drew a crowd of contractors, building owners and other property owners Sustainable Real Estate Solutions explained how the Colorado Commercial Property Assessed Clean Energy (C-PACE) financing tool, available through the Colorado Energy Office (CEO), can finance energy efficiency, renewable energy, and water conservation measures using private capital. Colorado C-PACE is available to just about any commercial property owner including commercial, industrial, agricultural, non-profit and multi-family properties. The presentation also included how to identify eligible properties, prepare a proposal, develop an optimized project, how to get assistance with presenting the project, and find capital providers to determine best-fit financing.
How does Colorado C-PACE work?
· Colorado C-PACE financing is repaid through a voluntary special assessment on the property tax bill. The security of the tax lien is key to this program as the lien attaches to the property and transfers with ownership. Colorado C-PACE provides financing for eligible energy efficiency, water conservation, and renewable energy improvements over their useful life — up to 20 years — thus making projects cost-effective and encouraging property owners to invest in newer, greener technologies.
· Interested property owners opt to receive long-term (up to 20-year) financing for as much as 100% of the cost of these improvements. This arrangement spreads the cost of clean energy improvements over a longer period than could be obtained with traditional debt financing.
· Property owners are free to arrange financing directly with one of the listed capital providers, or to bring their own capital provider to purchase the Colorado C-PACE assessment (i.e. fund the project).
More information about the Colorado C-PACE program is available online at www.copace.com or by calling the Pueblo County Office of Economic Development at 719-583-6240.
CONTACT: For more information, please contact Paris Carmichael, Pueblo BOCC Community Information Manager at firstname.lastname@example.org or 719-252-8550.