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The summer months have always sizzled in New York City, but recent temperatures have been unprecedented. A recent report “Overheated, Underserved” issued by NYC Comptroller Brad Lander tackles the inequitable impacts of climate change. Data demonstrates a profound lack of cooling centers in neighborhoods already underserved by public and community-oriented infrastructure.
In truth, the majority of New York’s built environment, like most building stock in U.S. cities, is woefully unequipped to deal with extreme weather-related scenarios.
The Commercial Property Assessment Clean Energy (C-PACE) program is a long-term, low-cost financing tool that delivers on multiple levels for real estate projects. The financing program is now available for property owners. You can save through financing energy-efficient measures, including renewables. In addition, the program increases LTV while providing capital for energy-efficient building systems—smart investments that can help you avoid future NYC Local Law noncompliance penalties.
C-PACE is an opportunity to “cool down” while also reducing your expensive mezzanine debt or equity.
According to NYCEEC, the Administrator of NYC Accelerator PACE, more than $165 million in capital has been mobilized for energy efficiency and clean energy projects. C-PACE is likely a good opportunity for your project, too.
In response, ThinkForward has assembled experts and resources focused on financing and economic development incentives for, specifically, capital improvements designed to increase your building’s energy efficiency. If you have questions about green financing, please contact us, and we can make the appropriate introductions.
We’ve also composed a C-PACE educational document for you to learn more about the program.
Bottom Line: C-PACE can complete your full capital stack and finance energy-efficient and renewable energy-related measures. These kinds of expenses can account for 25 to 30% of total construction costs.
The summer months have always sizzled in New York City, but recent temperatures have been unprecedented. A recent report “Overheated, Underserved” issued by NYC Comptroller Brad Lander tackles the inequitable impacts of climate change. Data demonstrates a profound lack of cooling centers in neighborhoods already underserved by public and community-oriented infrastructure.
In truth, the majority of New York’s built environment, like most building stock in U.S. cities, is woefully unequipped to deal with extreme weather-related scenarios.
The Commercial Property Assessment Clean Energy (C-PACE) program is a long-term, low-cost financing tool that delivers on multiple levels for real estate projects. The financing program is now available for property owners. You can save through financing energy-efficient measures, including renewables. In addition, the program increases LTV while providing capital for energy-efficient building systems—smart investments that can help you avoid future NYC Local Law noncompliance penalties.
C-PACE is an opportunity to “cool down” while also reducing your expensive mezzanine debt or equity.
According to NYCEEC, the Administrator of NYC Accelerator PACE, more than $165 million in capital has been mobilized for energy efficiency and clean energy projects. C-PACE is likely a good opportunity for your project, too.
In response, ThinkForward has assembled experts and resources focused on financing and economic development incentives for, specifically, capital improvements designed to increase your building’s energy efficiency. If you have questions about green financing, please contact us, and we can make the appropriate introductions.
We’ve also composed a C-PACE educational document for you to learn more about the program.
Bottom Line: C-PACE can complete your full capital stack and finance energy-efficient and renewable energy-related measures. These kinds of expenses can account for 25 to 30% of total construction costs.
NYC agencies are encouraging investments in IndustrialBusiness Zones (IBZ).This is good news for real estate developers and building owners hoping to attract manufacturing and light industrial tenants through redevelopment of their properties. Financial assistance through the NYCIndustrial Development Agency (NYCIDA) can make a sizeable contribution to most capital stacks.
For many organizations, delaying a project means delaying future success. Tax credits and economic incentives can help fund the next step forward in any mission-driven organization’s growth and evolution. Considering the life line that these programs can represent, let’s take a few moments to understand what incentives are and how to tap into the potential for your company.
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