The City of Fredericksburg C-PACE Program is an innovative C-PACE Financing program that offers an open-market solution for building owners and developers and promotes clean energy and economic development in Fredericksburg, Virginia. The Program enables owners of multifamily, commercial, and industrial properties to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water efficiency improvement projects.
C-PACE Financing helps property owners overcome financial barriers that discourage investment in energy and water conservation projects to new and existing buildings. Building improvements financed using C-PACE can be completed with no up-front, out-of-pocket cost to property owners and can generate positive cash flow upon completion.
C-PACE loans are based on the weighted average of the improvements or 20 years whichever is less, except for solar improvements with a maximum term of 25 years. This long repayment period results in cost savings that typically exceed the total cost of the C-PACE loan.
The results may include improved business profitability, an increase in the property value, and improved sustainability of the real estate asset.
MORE INFORMATION ON THE LAUNCH OF THE CITY’S C-PACE PROGRAM IS COMING SOON!