What Banks Need To Know About “PACE” Financing
November 5, 2012
Government sponsored Property Assessed Clean Energy (PACE) programs offer financing for the purpose of making clean energy improvements on residential and commercial properties. Typically offered at the county level, these programs promote improvements that could enhance property values and reduce operating costs.
Lenders should become aware of PACE programs for several reasons, including that PACE loans are secured by senior property liens and repaid like tax assessments.
Please see the attached Regulatory Compliance Bulletin for more information.