Practical Law Glossary Item w-040-5460 (Approx. 3 pages)
Glossary
Commercial Property Assessed Clean Energy Financing (C-PACE)
Government sponsored private loans available for commercial property owners to invest in environmentally sustainable property projects and improvements (called PACE financing in the residential market). The loan is repaid as a tax assessment. The lien on the property has super lien priority.
C-PACE programs are authorized under state statutes. In some states, mortgage lenders are prohibited by statute from denying a property owner the right to obtain C-PACE financing.