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Illinois Finance Authority PACE Program

| June 22, 2023

Commercial Property Assessed Clean Energy (C-PACE) is a tool that can be used to finance energy efficiency and renewable energy improvements on commercial property.  The State of Illinois, in partnership with the Illinois Finance Authority (IFA), launched a statewide PACE (Property Assessed Clean Energy) program to be a conduit for C-PACE and spur investment in energy efficiency, water conservation, and electric vehicle charging stations; all the while stimulating growth of renewable energy and resilient building design throughout Illinois.

The IFA PACE Program is available at no cost to all Illinois counties and municipalities.  This program can be used by owners and developers of commercial properties to finance or refinance eligible clean energy improvements in connection with the renovation of existing buildings and new construction, in each case up to 25% of the value of the property.

The Business Navigator Alliance of Southcentral and Southeastern Illinois is hosting a webinar to dive into the IFA PACE Program, exploring how local communities can leverage this financial vehicle for economic development on Thursday, June 22 at 10:30 a.m.

Brad Fletcher, Vice President and Treasurer of the Illinois Finance Authority will explain how the IFA PACE program can finance or refinance eligible improvements for privately owned commercial, industrial, non-residential agricultural or multi-family (five or more units) property.

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