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DTSTART;TZID=America/New_York:20201119T120000
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SUMMARY:Commercial Property Assessed Clean Energy (C-PACE) Financing in Virginia
DESCRIPTION:Commercial Property Assessed Clean Energy (C-PACE) provides affordable\, long-term financing to commercial property owners to pay for energy efficiency\, water efficiency\, and onsite renewable energy upgrades. Commercial property owners receive funding for energy savings upgrades and make repayments through their property tax bill. Ideal for private sector projects\, C-PACE can be used for new construction\, retrofits\, and resiliency efforts. As an additional advantage\, soft costs like A/E fees are included. \nDuring the 2020 General Assembly\, legislation was passed for the Commonwealth to create a statewide C-PACE program run through the Department of Mines\, Minerals\, and Energy (DMME). Virginia DMME is now in partnership with the District of Columbia Department of Energy and Environment (DOEE) and the Maryland Clean Energy Center (MCEC) to form the Mid-Atlantic PACE Alliance. As architects play a key role in C-PACE projects\, we are proud to have DMME partner with AIA Virginia its outreach efforts. \nThe seminar will cover the following key elements: \n\nWhat is Commercial Property Assessed Clean Energy (C-PACE) Financing? (C-PACE is a tax assessment-based tool for building owners to finance clean energy- and water-related improvements to their properties. C-PACE assessments are typically collected by localities on property tax bills\, and repayment directed to the lenders by the locality. C-PACE financing is advantageous because it is secured by the property\, not the owner’s credit\, and is transferrable upon sale.)\nWhat are the eligible building types? (Generally privately-owned or non-profit; commercial\, hospitality\, industrial\, mixed-use or multifamily with 5 or more units\, agricultural; retrofit\, substantial renovation and new construction projects may utilize C-PACE)\nWhat measures and project costs are financeable through C-PACE programs? Typical energy and water conservation measures\, as well as solar PV\, EV charging  The C-PACE value proposition is that utility savings and long term financing (up to 20-25 years) will allow owners to mostly if not entirely offset the loan payments with the utility bill savings.  If a renewable energy system is installed\, this will reduce utility cost by crediting the electricity production from the system to the owner’s bill. Virginia’s code also allows for resilience\, flood prevention/storm water management\, and living shoreline improvements to be financed.\nHow can C-PACE combine with other incentives and financing (utility DSM programs\, traditional bank loans\, private equity) or programs (Opportunity Zones\, Main Street\, etc.)? C-PACE can be integrated with all available financing/capital sources for the project; it may also be a source of financing for organizations that may typically have difficulty in obtaining financing.\nProvide examples (case studies) of successful projects (we have several from Maryland and DC)\nHow can C-PACE assist building owners with indoor air and environmental quality issues including those associated with COVID-19? IAQ measures such as UV-C lighting systems are generally financeable if installed along with other energy-saving HVAC system upgrades\nWhat is DMME’s role (as the Virginia State Energy Office) in supporting C-PACE program implementation and availability of C-PACE financing in the Commonwealth?\n\nDMME has worked with stakeholders and industry partners for several years to enable C-PACE financing and programs.  Implementing C-PACE at scale statewide is well-aligned with DMME’s mission to ensure a transition to a vibrant and equitable clean energy economy for Virginians. \nEarn 1 AIA LU \nPresented by Virginia PACE Authority. \nVirginia PACE Authority (VPA) is a 501(c)(3) nonprofit organization that designs and administers C-PACE loan programs for Virginia communities. We offer a uniform\, cost-effective and highly innovative C-PACE program platform that fosters greater economic development activity and promotes the Commonwealth’s clean energy goals. As the program administrator\, VPA works with commercial businesses\, property owners\, contractors and local governments to facilitate the financing of energy efficiency\, renewable energy and resilient projects on both existing buildings and new developments. \nRegister online.
URL:https://inform-magazine.com/event/commercial-property-assessed-clean-energy-c-pace-financing-in-virginia/
LOCATION:Virtual – Online
CATEGORIES:Business Development,Education,Historic Resources,Webinars
ORGANIZER;CN="AIA Virginia":MAILTO:info@aiava.org
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