Community PACE Resources
Commercial PACE (Property Assessed Clean Energy) is how we finance projects for the business community, and how we generate sustainable revenue for our nonprofit actions. Community PACE is how we leverage our knowledge, vision, and access to capital to help make Rochester a better place.
If you’re interested in Commercial PACE, please visit PossibleRochester.com.
If you’d like to learn more about the community side of our work, you’re in the right place.
In a nutshell, we use C-PACE to bring capital into the community to pay for energy efficiency improvements to buildings, and for on-site renewable energy generation. This is designed to jumpstart the process of local economic development, with the ultimate goal being to finance these projects locally as well, so that all of the profits remain in the community. At the outset, however, local financial institutions are typically unlikely to offer C-PACE financing, partly because it’s a new and unfamiliar structure, and partly because it requires longer-term capital than is typically available from smaller banks and credit unions. So the use of outside capital is usually necessary in order to get things going.
At the same time, typical C-PACE programs, including Rochester’s, are aimed at projects costing $400,000 or more, so part of our work revolves around finding ways to finance smaller projects. In order for C-PACE to impact Main Street or underserved neighborhoods, there needs to be a way to finance $20-$50,000 improvements as well.
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