Clean energy upgrades in affordable multifamily buildings can result in reduced operating costs, enhanced building resiliency, and improved quality of life for tenants. However, capital constraints and access to financing options can limit the ability for property owners to undertake these improvements. This session will provide an overview of two opportunities for affordable building owners to finance clean energy projects and preserve affordable housing at the same time.
Commercial Property Assessed Clean Energy (C-PACE) financing is an innovative and accessible financing mechanism offered by Counties and Cities that multifamily property owners can use to upgrade buildings to reduce energy waste, to replace aged equipment and install renewable energy. The Energy Improvement Corporation (EIC), a local development corporation, currently administers Energize NY PACE for commercial buildings (C-PACE) on behalf of over 40 municipalities across the State.
In addition, the New York City Energy Efficiency Corporation (NYCEEC) works with property owners across New York State to provide technical support and innovative finance options for energy efficiency, renewable energy, and demand response projects in all building types, with a focus on increasing accessibility to finance options for affordable multifamily buildings.
Date: Tuesday, May 22
Time: 3:30- 4:30pm