Map of C-PACE Programs
Map Legend
Active C-PACE Program with Closed Transactions
New C-PACE Statute, No Closed Transactions
Alaska
Updated August 2022
2021 Successes and C-PACE Volume
- Enacted HB 227 which broadens the C-PACE Statute to include new construction and resiliency, among other items.
- ~10 interested property owners, 2 term sheets signed, first mortgage holder consent signed.
- Working with Matanuska-Susitna and Kenai Borough leadership to pass Resolutions and Ordinances establishing their C-PACE program
2022 Objectives & Activities
- Close 5 projects.
- Update the statewide program guidelines and handbook to reflect changes in HB 227.
- Support 2 jurisdictions in launching their C-PACE program.
Arkansas
Updated April 2022
No information received.
California
Updated April 2022
No information received.
Colorado
Updated August 2022
2021 Successes and C-PACE Volume
- 7th year with cumulative total of $160 million in C-PACE investment across 102 projects.
- Expanded to a total of 40 counties with ~96% of the state’s commercial building stock.
- Continue to add C-PACE lenders (C-PACE specialty, community banks, credit unions) to 45 total.
- EPIC (Energy Performance Improvement Calculator) growing as a project origination and QA tool.
- Construction costs delayed many new construction projects, but recovering.
2022 Objectives & Activities
- Collaboration with stakeholder groups, counties, and municipalities.
- Drive origination in unserved SMB, agriculture and rural communities – Colorado Clean Energy Fund as new entrant targeting these sectors.
- Support owner engagement and contractor workforce education through EPIC tool to make the business case for EE investment.
- Marketing C-PACE as a way to enable compliance with new building performance standards.
Connecticut
Updated August 2022
2021 Successes and C-PACE Volume
- Surpassed $227m in financing and 372 projects.
- Implemented administrator billing.
- Largest CPACE project in Connecticut, $13.8M multifamily conversion.
- $20M in New Construction, a nearly 3-fold increase over 2020.
2022 Objectives & Activities
- Construction guidelines from pilot to permanent program.
- Enabling statute expanded to include resiliency and EV chargers, effective October 1, 2022.
- Resiliency and EV Chargers excluded from SIR calculations.
Delaware
Updated August 2022
2021 Successes and C-PACE Volume
- All 3 DE Counties enabled: New Castle, Sussex, Kent.
- 3 projects financed for $17.9 million.
2022 Objectives & Activities
- YTD: 2 projects financed for $15.2 million.
- Close first project in Kent County.
- Bundle DESEU direct loan program with C-PACE.
District of Columbia
Updated August 2022
2021 Successes and C-PACE Volume
- Closed 6 projects to date in FY2022 totaling over $17.9 Million.
- In process of closing: 3 projects totaling $13.4 million before FYE 2022.
- Closed 42 projects totaling $74.3 Million.
- Received approval letter from HUD for use of DC PACE financing for approved HUD products in December after receiving conditional approval earlier this year.
- 3rd party administration contract shifted from DOEE to DC Green Bank.
- DC Green Bank hired Ronald Hobson to manage the DC PACE Program.
- Urban Ingenuity’s role has shifted to an advisory role to the DC Green Bank 2022.
2022 Objectives & Activities
- Building Energy Performing Standards (BEPS) continue to drive demand.
- Update program guidelines and improve program efficiencies.
- Expand market footprint.
- Collaboration on LIHTC projects and related bond issuances.
Florida
Updated August 2022
2021 Successes and C-PACE Volume
- Projects Closed: 4.
- Total Project Amount: $20.5 M.
- Project Types: Multi – Family, Senior Housing, Hospitality.
- Major Counties: Orange and Duval (Jacksonville).
- New Program Providers: 4.
2022 Objectives & Activities
- Grow Program Footprint (North Florida).
- Salesforce Provider Integration.
- Expand Program Administration.
Hawaii
Updated August 2022
2021 Successes and C-PACE Volume
- Act 183 (HB2088) authorizing C-PACER in Hawaii signed into law on June 27, 2022.
- Legislation allows HGIA to administer a statewide C-PACER Program.
- Each County has the option:
- to engage HGIA to administer and service C-PACER financing on its behalf, or
- to design, implement and service a C-PACER program specific to that County.
2022 Objectives & Activities
- Establish a working group to design Hawaii’s C-PACER Program and to develop a Guidebook and form documents. Timeline:
- July 31: approval of working group by HGIA Board
- Sept 30: final versions of Guidebook and form documents
- Oct 31: approval of working group by HGIA Board
- Work with Counties to opt in to HGIA program.
- Work with capital providers on transactions.
Illinois
Updated August 2022
2021 Successes and C-PACE Volume
- 14 participating Counties.
- 86% of state population
- 90% of Chicagoland
- Major metro areas
- Model Ordinance & Uniform Transaction Docs.
- 19 participating capital providers.
- 80+ registered professional service firms.
- Program Total (since 2019)
- 17 closed transactions ($74M+)
- 7 Counties: Champaign, Cook, DuPage, Kane, Will, McHenry, and Winnebago
- 6 Capital Providers
- 2021: $47.2M – 9 transactions.
2022 Objectives & Activities
- 2022 YTD: $23.1M – 3 transactions.
- Pipeline: $100M+
Kentucky
Updated August 2022
2021 Successes and C-PACE Volume
- Total C-PACE to date (since 2015): $30M+
- 2022 C-PACE: $10M.
- Louisville Metro demand strong with first downtown deals.
- 3rd Party Direct Bill now an option.
- Demand very strong.
- KY state government begins to market PACE.
2022 Objectives & Activities
- Closing pipeline and interest strong ($15M+ projected).
- New construction, redevelopment and solar will lead.
- Continued marketing of PACE throughout KY by collective PACE community (lenders, Energize KY, local governments).
- PACE Districts (EPADs) will continue to be created.
Maine
Updated May 2022
No information received.
Maryland
Updated August 2022
2021 Successes and C-PACE Volume
- OVERALL C-PACE: Total Project volume over $76M.
- Sixteen deals passed; C-PACE project volume over $25 M (fiscal Year July 1, 2021 – June 30, 2022).
- Hosted local workshop to review new program documentation and receive feedback.
- Updating C-PACE documentation to include resiliency enacted in 2021; expected to circulate by end of July.
- Washington County joined the program.
2022 Objectives & Activities
- Work with counties on new documentation, including passage of updated ordinances.
- Continued marketing outreach, including new resiliency measures.
- Develop equity partnerships.
- New program administrator: Abacus Property Solutions.
- Updating Program Guidelines and amending local ordinances to reflect 2021 legislative changes.
Massachusetts
Updated August 2022
2021 Successes and C-PACE Volume
- Closed second PACE Massachusetts commercial project.
- 440 McClellan Highway, Boston – October 2021.
- 11 Capital Providers in Registry (1 added).
- 51 Municipalities opted in (4 added).
- Lanesborough,
- Middleborough,
- Lowell, and
- Great Barrington.
- Program Guidelines (updated July 2021) at www.massdevelopment.com/pace.
2022 Objectives & Activities
- Identify additional technical resources for property owners.
- Expand program footprint.
- Increase Capital Provider participation
Michigan
Updated August 2022
2021 Successes and C-PACE Volume
- Best year to date: 22 projects, $105M financed, with 6 lenders.
- Slow start to the year: 3 projects closed.
- Alpena County & Cheboygan County joined LAGM.
- New office open, new website launched, new staff on – boarded.
- LAGM Program Manual.
- Growth around MI.
- 12 jurisdictions closed projects –
- 7 closed their first projects
- Projects in the UP and West, MI.
2022 Objectives & Activities
- New Office! Detroit Masonic Temple.
- Expect 3 projects to close in July.
- Pipeline has picked up – expect 6 – 10 deals to close in the fall.
- Anticipate 4 or 5 new jurisdictions to enable PACE.
- Amendment legislation still pending.
Minnesota
Updated August 2022
2021 Successes and C-PACE Volume
- 53 Projects Funded (355 Cumulative Projects).
- $97M Funded ($225 Cumulative Funding).
- Dollar Volume Doubled From 2020.
2022 Objectives & Activities
- Expect to Fund Over $150M in 2022.
- Legislative Initiatives (Ag Land, COVID Mitigation, Water).
- Working with the University of Minnesota to increase Women and Minority Participation.
- We have already funded over 100 of these projects but we want to do more.
Missouri
Updated August 2022
2021 Successes and C-PACE Volume
MCED
- Engaged key metro areas to enhance delivery of CPACE advantages offered by MCED.
- Continued Program Partnerships deal closings under preapproved customized handbooks.
- Expanded capital sourcing including MCED Revolving Funds for less bankable yet qualified projects.
- Qualified large scale housing improvement project integrating C-PACE as a capital stack trigger.
Show Me PACE
- Hired dedicated PACE Manager – Patrice Managers.
- Selected as Administrator for St. Louis County and St. Louis City.
- 5 Projects Value: $26 MM.
- Sectors: Hospitality, Industrial, Multifamily, Medical Marijuana.
- Added 11 Municipalities.
2022 Objectives & Activities
MCED
- Continue efforts to protect C-PACE marketplace from onerous governmental regulations.
- Work more closely with capital market participants to develop alternative funding sources and methods.
- Continue to provide professional and collegial approach to market participants.
Show Me PACE
- Continue to deepen partnerships with capital providers to increase volume and diversity.
- Continue to expand the district.
- Establish outreach and training for bankers, appraisers and REALTORS.
- Deliver best-in-class open market, transparent and efficient administration at lowest cost.
- SMP 2022 pipeline: 4-6 projects ($12M-25M).
Montana
Updated August 2022
2021 Successes and C-PACE Volume
- Montana C-PACE has launched!
- Three counties are in process of establishing districts and six more are interested. Expect up to ten districts covering half of state population by end of year.
- Lenders and contractors are bringing in several potential projects.
- Possible to have first financing complete by end of June.
- Website launched at www.LastBestPACE.com.
Nebraska
Updated April 2022
No information received.
Nevada
Updated August 2022
2021 Successes and C-PACE Volume
- 4 C-PACE enabled cities: Las Vegas, Henderson, Reno, Fernley.
- 2 new construction projects financed for $13 million.
- C-PACE statute amended (SB 283):
- Added: Resiliency, water efficiency, new construction max financing (35% of as-stabilized value), enforcement process.
- Removed: SIR >1 requirement for existing building retrofits.
- Template Resolution, Program Guide & legal forms created for streamlined opt-in.
2022 Objectives & Activities
- Continued expansion in new jurisdictions.
- In discussion: North Las Vegas, Sparks, Clark County, Lander County.
- Increase stakeholder engagement through city economic development departments.
New Hampshire
Updated September 2023
No information received.
New Jersey
Updated April 2022
No information received.
New Mexico
Updated August 2023
No information received.
New York
Updated August 2022
2021 Successes and C-PACE Volume
EICPACE
- 1st new construction.
- >50% of eligible municipalities now members.
- > $500,000 in projected annual energy savings.
- > 41,000 metric tons of CO2 avoided over life of projects
NYCEEC
- “Pilot Phase” with 2 loan closings.
- ~$120 million in C-PACE financing.
- 93,000 metric tons of CO2e reduced over project lifetimes.
- $4 million in expected year one cost savings.
- 11 Qualified Lenders.
2022 Objectives & Activities
EICPACE
- Increase municipal membership.
- Facilitate projects with significant carbon savings.
NYCEEC
- Additional Qualified Lenders.
- “PACE 2.1” legal documentation for retrofits.
- New construction rulemaking and updated “3.0” Program Guidelines.
Ohio
Updated August 2022
2021 Successes and C-PACE Volume
- Total C-PACE to date: $631M.
- 2022 C-PACE: $89M.
- >50% new construction.
- Largest closing to date: $33M.
- Majority of closings are 1st time lender consents.
- Streamlined approval processes for municipalities.
2022 Objectives & Activities
- Closing pipeline very strong ($100M+ projected).
- Rural areas in “PACE District” development.
- Improve the City of Cleveland approval process.
- Solar/EV charging stations will increase.
Oklahoma
Updated August 2022
2021 Successes and C-PACE Volume
- Added 2 Counties: Comanche and Payne; 5 Counties total.
- 2 closed projects (Feb & May): Tulsa Boys Home Historic Property and a Multifamily complex.
- $2 Million total C-PACE financing.
- Added 3 new Capital Providers to OklahomaCPACE.Org. 14 CPs now registered.
- Completed/Issued new CP Program Certification Form.
- Extensive county outreach: 8 counties pending opt – in.
2022 Objectives & Activities
- Continued county outreach and more counties opted – in.
- Close an estimated 4 – 6 additional projects by year – end.
- Added program outreach and marketing initiatives.
- Program tuning.
Oregon
Updated April 2022
No information received.
Pennsylvania
Updated August 2022
2021 Successes and C-PACE Volume
PA PACE (SEF)
- C-PACE Resolutions in 21 Counties.
- Seven projects funded in 4 different counties.
- Allegheny County, $5.1 million & $4 million.
- Lehigh County, $2.3 million.
- Montgomery County, $1.3 million.
- On – line C-PACE Application System and Document Submittal System.
- 18 Active programs representing more than 50% of PA Commercial Building Stock.
Philadelphia
- Closed 2 projects (EE & WE) – both new construction and renovations.
- Deal volume = $11.2MM.
- PA C-PACE expansion legislation passed. Multifamily, resiliency and IAQ measures now eligible.
- Philadelphia City Council Ordinance passed.
- Updated program fee structure.
- Added 14 new MBWE qualified engineering professional firms to our resource directory.
- Led or participated in 34 educational events reaching ~440 people and ~620 organizations.
2022 Objectives & Activities
PA PACE (SEF)
- Transition counties from approved resolutions to active programs.
- Bring CPACE expansion (for resiliency, air quality, and multi – family) to current counties and add 10 more counties.
Philadelphia
- Implement revised Program Guidelines to finalize C-PACE expansion (with SEF).
- Determine how to increase volume of smaller deals through engagement with community lenders and strategic partnerships.
- Continued implementation of DEI initiatives.
Rhode Island
Updated April 2022
No information received.
Tennessee
Updated August 2022
2021 Successes and C-PACE Volume
- C-PACER enabled by state legislation in 2021.
- Technical items in trailer bill passed in legislature in March 2022.
- Working toward adoption in 5 counties: Shelby/Memphis; Davidson/Nashville; Knox/Knoxville; Hamilton/Chattanooga; Rutherford.
2022 Objectives & Activities
- Goal is to approach the following counties in 2022:
- Shelby County (Memphis),
- Davidson County (Nashville),
- Knox County (Knoxville),
- Hamilton County (Chattanooga).
Texas
Updated August 2022
2021 Successes and C-PACE Volume
Texas PACE Authority
- Closed 5 projects totaling $36 million.
- Added 9 jurisdictions, total: 80, reaching 73% of the Texas population.
- Yarcus Lewis, Sustainability Lead for Fed. Reserve District 11 joined board.
- Added Transaction Manager and Creative and Technology manager.
- Contracts renewed in Dallas, Houston, and Travis County (Austin), closed first San Antonia project.
LoneStar PACE
- Filed Assessments on Five Projects.
- Expanded Footprint with Five New Municipalities Since 2020.
- Grew Closed Volume 76% Over 2020.
- Expanded Projects Despite COVID.
- Increased In-Person Meetings/Sponsored Events.
2022 Objectives & Activities
Texas PACE Authority
- Received Meadows Foundation $100,000 grant to develop Sales Force data base, & streamline process.
- Processing 10 Applications: 8 expected to close in 2022, totaling $57 million (2 in queue total $54 million).
- Rounding 3rd base with HUD re: programmatic consent.
- Waiting for Keeping PACE in Texas statutory interpretations to make refi and new construction projects easier.
LoneStar PACE
- Expand program footprint (announcements Coming Soon!)
- Increase stakeholder engagement and education.
- Increasing awareness of PACE through national groups.
- PACE panel discussions including ESG experts.
Utah
Updated August 2022
2021 Successes and C-PACE Volume
- Continued recruitment of new jurisdictions.
- $21.5M+ in closed C-PACE transactions, $91M+ in cumulative financings.
- 30+ capital providers registered in Utah.
2022 Objectives & Activities
- Continued expansion in new jurisdictions.
- Grow C-PACE project pipeline in both NC and retrofit.
- Significant focus on larger developments throughout the state.
- Increased interest in rural areas and southern Utah.
- Goal to exceed $100M milestone in cumulative C-PACE financings.
Virginia
Updated August 2022
2021 Successes and C-PACE Volume
- Virginia Energy/Virginia PACE Authority (VPA) hosted 4 workshops to review the state program and receive feedback from capital providers, legal/contractors/localities/equity partners.
- Feedback suggested legislation to cover resiliency items and to clarify prior statute language. HB1325 passed with sponsorship by VA Delegate David Reid.
- Virginia Beach, Norfolk, and Chesapeake joined the program. Other counties may join statewide program.
- Virginia Energy and VPA working on a suite of standardized C-PACE documentation for localities; expected to go out end of summer.
2022 Objectives & Activities
- Several C-PACE transactions in pipeline ($30 + million in application process).
- Increase small deal origination through PACEfi platform with focus on resiliency.
- Develop partnerships with state agencies to bundle C-PACE with other incentives.
- Apply for statewide HUD approval for multi – family PACE participation.
Washington
Updated August 2022
2021 Successes and C-PACE Volume
- C-PACER enabled by state legislation in 2020.
- Technical items in trailer bill passed in legislature in March 2022.
- C-PACER well-positioned as a tool to enable compliance with WA’s building performance standard (Clean Buildings Initiative).
- 6 counties adopted C-PACER 1 in process.
- King County: 4 projects have closed, $40 million in investment.
- Clark County: 1 project, $45 million.
- Whatcom County,
- Thurston County,
- Snohomish County,
- Spokane County,
- Pierce (in process).
2022 Objectives & Activities
- Closing more projects!
- King County: Focusing more on outreach to smaller building owners.
Wisconsin
Updated August 2022
2021 Successes and C-PACE Volume
PACE WI
- The Wisconsin Attorney General’s office provided guidance to U.S. Department of Housing and Urban Development on recognizing C-PACE financings on multifamily housing projects.
- YTD financed 14 PACE Projects. 6 more closings anticipated this year.
- Cumulative impact : 78 projects for $ 137 Million in clean energy updates.
- The program is active in 48 counties in Wisconsin.
- Launched Slipstream’s Project Center, the PACE Program Engine, to a Salesforce platform Update to Guidelines:
- Statutory amendment eliminated the SIR and the Savings Guarantee.
- Two options for energy compliance:
- 10% above Wisconsin State Energy Code.
- Prescriptive Measures listed on the utility Focus on Energy Program.
- Addition of “Non–resource Improvements”
- Resiliency Projects: increase resilience or improve the durability of infrastructure, including an improvement intended to improve storm and wind durability or wind resistance or to assist in fire suppression or mitigation of damage from flooding.
- Stormwater Control Measures.
- Energy Reliability Improvement.
- Verification Certification Requirement – added a new template.
- Compliance with local floodplain ordinances for resilience projects.
Milwaukee C-PACE
- Slipstream selected as the new Program Administrator.
- New Program Guidelines developed. Property Owner, Developer, and Capital Provider Stakeholder Meetings held.
- Outreach to target markets (webinars for stakeholder groups).
- Two loans closed in the new structure – $10.88M Impact.
- Launched Slipstream’s Milwaukee C-PACE Project Center.
2022 Objectives & Activities
PACE WI
- Updating Slipstream’s Project Center, the PACE Program Engine, to a Salesforce platform (Estimate launch 1st quarter).
- Continued outreach in healthcare and assisted living market sector focused outreach.
- Continued outreach to new local, regional, and national lenders.
Milwaukee C-PACE
- Educate market on High Performance C-PACE project pathway.
- Continued outreach to developers and property owners.