FOR BUILDING EFFICIENCY.
Energize Kentucky’s PACE Financing
Designed for energy-efficiency improvements to Kentucky’s commercial properties, PACE’s no down payment, long-term financing allows for the potential to increase property value, reduce energy costs, and pass-though costs while generating positive cash flow.
Kentucky PACE Funding Process
Initial Eligibility Form
The property owner completes a brief form at KYPACE.org to help PACE determine if the property and potential energy project is eligible for PACE financing.
Energy Project Summary Form
The property owner works with a PACE registered contractor to identify eligible energy saving improvements and quantify the energy savings. This form is submitted with the Energy Project Application.
Energy Project Application
The application allows the property owner to provide essential financial documentation about the property and its operating status. PACE provides the information to its network of registered capital providers to obtain PACE financing terms for the owner. NOTE: The property owner must obtain written consent from the existing mortgage holder before a PACE special assessment can be added to the property’s tax bill.
The property owner agrees to financing terms and then the PACE special assessment is added to the property’s tax bill. After the PACE financial closing occurs, the funding will be available for the eligible energy saving improvements.
The registered contractor completes the installation of the authorized energy saving improvements. PACE ensures all improvements are installed to the satisfaction of the property owner.
Potential PACE Benefits:
NO DOWN PAYMENT
OFF BALANCE SHEET TREATMENT
NO PERSONAL GUARANTEE
LEASE PASS THROUGH
FIXED RATE & FIXED PAYMENT
15-25 YEAR EXTENDED TERM
ABOUT ENERGIZE KENTUCKY
ENERGIZE KENTUCKY is a program available to commercial, industrial, and multi-family building owners across the Commonwealth. PACE provides access to low-cost, extended term capital to finance energy efficiency and water efficiency improvements.
KY-PACE is the implementation of a state law commonly called EPAD, that was adopted in 2015 (KRS 65.205), and allows a property owner to finance energy efficiency, renewable energy and water-saving improvements through a voluntary assessment on the property.