Chicago PACE makes it possible for owners and developers of commercial properties to obtain low-cost, long-term financing for energy efficiency, sustainability and renewable energy infrastructure deployed in new or existing buildings.
The Chicago PACE program is based on new legislation from Illinois classifies green upgrades and installations as a public benefit. The program allows energy efficient infrastructure elements and some associated costs to be financed with no money down and then repaid as a benefit assessment on the property tax bill over a term that matches the useful life of improvements. For some projects, that can be as long as 25 years.
The program delivers a financial tool that facilitates the City’s sustainability efforts while providing economic development opportunities by reducing developer capital costs and driving down operational expenses for existing properties.
Loop-Couterpointe PACE, or LCP, is responsible for overseeing and implementing the program by providing guidance information to potential PACE participants; receiving, processing and approving applications; and marketing the program to property owners, contractors and other real estate professionals.
For more information, visit the official Chicago PACE website or call 312.940.3722. Also, follow Chicago PACE on LinkedIn or Twitter for the latest on completed projects and upcoming information sessions.