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IFA PACE Program (Commercial Property Assessed Clean Energy Financing)
Illinois — state programup to 25% of the value of the property; up to 100% of all project and closing costs; terms of up to 40 years
The Illinois Finance Authority PACE Program provides C-PACE financing to owners and developers for eligible clean energy improvements affixed to privately-owned commercial, industrial, non-residential agricultural, or multi-family (5+ units) properties, or not-for-profit properties. Financing covers energy efficiency, renewable energy, resiliency, water use improvements, and EV charging stations for both new construction and renovations. Financing is non-recourse, assignable upon property transfer, and does not accelerate upon default.
Program details
- Type
- loan
- Amount
- up to 25% of the value of the property; up to 100% of all project and closing costs; terms of up to 40 years
- Eligibility
- Eligible record owners of eligible privately-owned commercial, industrial, non-residential agricultural, or multi-family (of 5 or more units) properties, or properties owned by a not-for-profit, located in any county, city, village, or incorporated town in Illinois that has adopted the enabling PACE Ordinance.
- Status
- open
- Administrator
- Illinois Finance Authority / C-PACE Open Market Initiative
Source: Illinois — state program. Confirm current terms with the administering agency before applying.