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MassDevelopment Introduces Property Assessed Clean Energy (PACE)

New Members

 

Property Assessed Clean Energy (PACE) Massachusetts is here!
The new financing mechanism allows owners of commercial buildings to finance energy improvements and repay via a special assessment on their property tax bill that stays with the property when sold.   
 
 
PACE Process and Eligibility
  • Individual municipalities may opt into PACE by a majority vote of the city or town council or the board of selectmen, as appropriate.
  • Properties eligible for financing through PACE include:
    - Commercial buildings
    - Industrial buildings
    - Multi-family buildings with five or more units
    - Buildings owned by a nonprofit organization
  • Improvements eligible for financing through PACE must be permanently fixed to the property. Eligible improvements include:
    - Energy efficiency upgrades
    - Renewable energy
    - Extension of existing natural gas distribution to a property
Visit massdevelopment.com/pace to review PACE Massachusetts guidelines and other program information, or call 617-330-2000 and we will connect you with a business development representative. 
 
 
 
 

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