PACE makes it possible for owners of commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term financing for energy efficiency and renewable energy projects.
MCED understands property development is a business process encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from new construction, although many developers also manage the construction process.
Property developers often find it useful to separately finance the various portions of the capital required to complete a project. PACE can accommodate the energy consuming equipment required in most all project developments. Utilizing PACE financing for these components is a concept of capital stacking often found to be more flexible and less expensive that other traditional means.
The District Administrator is pleased to discuss how MCED can help with the process. We can offer assistance in both managing the operational requirements of of financing and in sourcing the financing. In the case where the developer has already formed an investor relationship, the District can offer its Conduit Program financing which is the lowest cost offering provided by the District.