For Media Inquiries, contact:
Rich Dooley, AICP
Community Energy Coordinator
Arlington Initiative to Rethink Energy (AIRE)
Arlington County Department of Environmental Services
Chief Executive Officer
Sustainable Real Estate Solutions, Inc.
Project financing, which requires no taxpayer funds, is crucial to meeting Arlington’s public policy goals, whichseek to reduce energy costs, increase renewable energy deployment, lower greenhouse gas emissions, and create local jobs.
For building owners, the Arlington C-PACE (Program) solves important financial hurdles by providing:
- 100% financing (up to 25-year term; no out-of-pocket costs);
- Competitive, fixed interest rates; and
- Project qualification is based on building finances, not the owner’s credit, net worth or personal guarantee.
Projects are typically cash flow positive to the owner.
All projects have multiple participants including government officials, building owners, contractors, capital providers and any bank which holds a first mortgage. Each of these stakeholders has an important role to play in the development and implementation of a successful project.
Frequently Asked Questions
The most “Frequently Asked Questions” from the media include:
- Does Arlington C-PACE use taxpayer dollars to fund projects?
- What are the costs to Arlington county?
- Is the program voluntary for building owners?
- What property types are eligible for Arlington C-PACE Financing?
- What improvements are eligible?
- How is an Arlington C-PACE assessment repaid?
- Does a contractor need any special licensing or certification?
- How does a contractor “register” for the program?
- What is the role of the mortgage holder?
- Why have mortgage holders embraced well-designed Arlington C-PACE projects?