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IFA Commercial PACE (C-PACE) Bond Program
Illinois — state programup to 25% of the value of the property; up to 100% of all project and closing costsDeadline: rolling
The Illinois Finance Authority PACE Program provides Commercial Property Assessed Clean Energy (C-PACE) financing for eligible improvements on privately-owned commercial, industrial, non-residential agricultural, multi-family (5+ units), or non-profit properties. Financing can be used for energy efficiency, renewable energy, resiliency, water use improvements, and EV charging stations, for both new construction and renovation projects. IFA issues bonds and notes statewide through an open-market structure administered by the C-PACE Open Market Initiative, a 501(c)(3) component unit of IFA.
Program details
- Type
- loan
- Amount
- up to 25% of the value of the property; up to 100% of all project and closing costs
- Deadline
- rolling
- Eligibility
- Record owners and developers of privately-owned commercial, industrial, non-residential agricultural, or multi-family (5 or more units) properties, or properties owned by a not-for-profit, located in an IFA PACE Program county or municipality in Illinois. Property must be in a designated PACE area (county or municipality that has adopted the enabling PACE Ordinance).
- Status
- open
- Administrator
- Illinois Finance Authority (IFA) / C-PACE Open Market Initiative
Source: Illinois — state program. Confirm current terms with the administering agency before applying.