ATLANTA, GA, September 25, 2023 -- Invest Atlanta announced today that it has launched its Atlanta C-PACE program in an open market structure, providing property owners interested in C-PACE the flexibility to use their own private financing sources as opposed to the exclusive financing program offered previously. The new program direction will maintain the existing benefits of the C-PACE structure, including attractive up-front capital to property owners and repayment schedules of up to 30 years, while creating a more streamlined process of approving financing.

“As the world community grapples with the global climate crisis, our Administration continues to explore new ways to incentivize responsible environmental stewardship—for residents and the business community,” said Atlanta Mayor Andre Dickens. “The C-PACE program is essentially a call to action for commercial property owners to join us in creating a more sustainable and resilient Atlanta.” 

C-PACE is a version of PACE applicable to only commercial properties and is distinctive from R-PACE, which applies to only residential properties. C-PACE provides commercial property owners and developers low-cost, long-term financing paid back through an annual assessment on the organization's property tax bill. C-PACE financing is utilized for eligible energy efficiency improvements including, but not limited to, solar, water conservation, HVAC, and other clean energy improvements.

Invest Atlanta will establish open market funding as a new financing process for the Atlanta C-PACE Program, meaning property owners will have the flexibility to use private financing for energy efficiency improvements.

"The City of Atlanta has a higher energy cost burden than most large U.S. cities; in fact, some studies indicate that Atlanta ranks 2nd highest in the United States,” said Dr. Eloisa Klementich, president and CEO of Invest Atlanta. "We also know that the median energy cost burden is 32% higher for Black households and 52% higher for Hispanic households. With Invest Atlanta’s focus on commercial and multifamily buildings within the city, programs like this begin to address some of the disparities.”

C-PACE is available to all commercial properties within the corporate municipal limits of the city of Atlanta to property owners who meet and complete the following requirements:

• The property must not be a residential dwelling of four units or less – multi-family residential properties with five units or more are eligible.

• Eligible property types include, but are not limited to, the following: office, industrial, multifamily housing, retail, and hospitality.
• Ineligible property types include, but are not limited to, the following: single-family residential homes and government or publicly owned buildings.
•  If eligibility is unclear, Invest Atlanta may determine eligibility based on its reasonable discretion.

The funding of C-PACE projects facilitates the restoration of properties across the city, furthering the City's goal of 100% clean energy by 2035. Additionally, C-PACE financing promotes the reduction of household energy burdens for low-income renters, job creation for minority contractors, and a positive cash flow for the organization to be used for further development.

For more information on the program and how to apply, visit www.investatlanta.com/pace.