Commercial Property Assessed Clean Energy Financing: C-PACE Structure, Documentation, and Project Approval
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will provide real estate finance counsel with the tools to structure commercial property assessed clean energy (C-PACE) financing, where a loan for energy efficiency or renewable energy projects can be repaid via an assessment on the borrower's property tax bill. The panel will discuss the current state of the market, the project approval process, documentation, and structuring concerns for developers and lenders.
- C-PACE regulatory framework
- State enabling legislation
- Approval authority at the state and/or local levels
- Project approval process
- Structuring concerns
- Lenders--typically private equity lenders
- Creating additional tax assessment
- Repayment of lender
- Relationship of C-PACE loan to senior mortgage and other financing
- What happens in the event of default
The panel will review these and other key issues:
- Which states currently have approval mechanisms in place for C-PACE financing on commercial property?
- What are the typical requirements for an energy efficiency project to seek C-PACE financing?
- How are C-PACE transactions structured and documented?
- What are the remedies for the lender and the tax assessor in the event the borrower/developer defaults on a C-PACE loan?
- How does a default in senior financing impact the C-PACE financing?
Kristen E. Burgers
Ms. Burgers represents debtors and creditors in bankruptcies and financial workouts in Virginia, the District of... | Read More
Ms. Burgers represents debtors and creditors in bankruptcies and financial workouts in Virginia, the District of Columbia, and Maryland. She also represents buyers, sellers, and lenders in the sale and financing of shopping centers, hotels, and residential/mixed use developments in the DC metro area and nationally. These transactions involve traditional financing, mezzanine financing, preferred equity agreements and new financing vehicles including Property Assessed Clean Energy (PACE) and EB-5 financing transactions.Close
Carrie Hallberg O'Malley
Ms. O’Malley advises clients on innovative investment structures related to commercial real estate. In addition... | Read More
Ms. O’Malley advises clients on innovative investment structures related to commercial real estate. In addition to her established commercial real estate and finance practice, she has a long history representing real estate investors and lending institutions in the acquisition, financing, servicing and sale of commercial loan portfolios. This work has involved loan pools of conventional mortgages (both performing and non-performing), as well as commercial economic development loans. Ms. O’Malley also maintains a niche focus in the rapidly-evolving impact investment arena of Property Assessed Clean Energy (PACE) financing.Close