C-PACE programs in Illinois enable owners of commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term financing for energy efficiency, water conservation, renewable energy projects, and more.
To be approved for C-PACE Financing through IECA, all applicants must obtain written consent of the existing mortgage lender or any other real property lienholders of record on the Eligible Property (collectively "Existing Lenders"). IECA provides a Lender Consent template that applicants must complete and have all Existing Lenders execute in order to obtain approval to close a PACE Financing.
To date, more than 170 lenders have consented to PACE Financing nationwide. These Existing Lenders understand the value of C-PACE because it improves property cash flow and lowers operating expenses related to C-PACE improvements.
For more information about C-PACE in Illinois, contact the Program Administrator at firstname.lastname@example.org.