Retroactive PACE Financing
As a trusted provider of Property Assessed Clean Energy (PACE), Twain offers non-recourse funding retroactively to completed projects to conserve capital and free up operating funds.
PACE financing offers commercial developers low-cost, long-term financing with fixed rates for 100% of the cost of energy efficiency, renewable energy and water conservation improvements. This type of financing can be used to recapitalize projects currently under construction and projects completed within up to the last three years. The use of retroactive PACE allows property owners and developers to reduce more expensive debt service and/or bring in additional capital.
PACE loans are repaid through a special assessment levied against the property and collected with the property’s real estate tax bill.
This program works well with projects of all kinds and is increasing in popularity because of its numerous benefits:
- Provides distressed projects with a much-needed capital injection, which can be used to pay down senior debt and fund reserve.
- PACE assessments can be capitalized up to 24 months, further helping a project’s near-term cash flow needs.
- Retroactive PACE is currently available in 15 states, including:
- Missouri (excluding the city of St. Louis)
- New York
- Rhode Island