PACE is coming to New York City in 2021! The program offers affordable financing that allows property owners to pay for upgrades that improve energy efficiency, harness renewable energy, and conserve water.
PACE allows a property owner to finance the up-front cost of energy or other eligible improvements on a property and then pay the costs back over time through a voluntary assessment. The unique characteristic of PACE assessments is that the assessment is attached to the property rather than an individual.
The Mayor's Office of Sustainability, in partnership with the New York City Energy Efficiency Corporation, are working to develop a PACE financing program that will benefit all commercial and multifamily building owners.
Contact firstname.lastname@example.org with the subject line "NYC PACE" to stay in the loop on PACE developments in New York City.
Green Housing Preservation Program provides no- and low-cost financing for energy efficiency and water conservation improvements, along with moderate rehabilitation work, for small- to mid-sized multifamily buildings that are greater than 5 units and less than 50,000 square feet (approximately 50 units).
The New York City Energy Efficiency Corporation (NYCEEC) is a non-profit dedicated to financing energy efficiency and clean energy projects in both multifamily and commercial buildings. NYCEEC can finance up to 100 percent of project costs, including construction and soft costs, and bridge incentive payments to match construction milestones. NYCEEC provides loans starting at $50,000 and up to $6 million.