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IFA PACE Program (Commercial PACE Bonds)
Illinois — state programup to 100% of all project and closing costs; up to 25% of the value of the property; terms of up to 40 yearsDeadline: rolling
The Illinois Finance Authority's statewide C-PACE program enables owners and developers of eligible commercial, industrial, non-residential agricultural, multi-family (5+ units), or non-profit properties to finance or refinance clean energy, energy efficiency, resiliency, water, and EV charging improvements through property-assessed bonds. IFA issues bonds or notes via a standardized open-market indenture with capital providers, with financing non-recourse to the property owner and assignable upon sale. The program is administered by the C-PACE Open Market Initiative, a 501(c)(3) component unit of IFA.
Program details
- Type
- loan
- Amount
- up to 100% of all project and closing costs; up to 25% of the value of the property; terms of up to 40 years
- Deadline
- rolling
- Eligibility
- Record owners of eligible 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, located in a participating IFA PACE county or municipality in Illinois. Eligible improvements include fixtures, products, systems, equipment, devices, and materials intended for energy efficiency, renewable energy, resiliency, or water use; electric vehicle charging stations are also eligible.
- 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.