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IFA Commercial PACE (C-PACE) Financing 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 to owners and developers of privately-owned commercial, industrial, non-residential agricultural, multi-family (5+ units), or nonprofit properties. Funds can be used for energy efficiency, renewable energy, resiliency, water use improvements, and EV charging stations, for both new construction and renovation projects. Financing is non-recourse, assignable upon property transfer, and allows terms of up to 40 years.
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
- Owners and developers of privately-owned commercial, industrial, non-residential agricultural, or multi-family (of 5 or more units) property, or any property owned by a not-for-profit, in connection with renovations of existing buildings and new construction. Property must be located in an IFA PACE area (participating county or municipality in Illinois).
- 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.