News Media Resources
Brian J. McCarter, CEO
Sustainable Real Estate Solutions, Inc.
Project financing, which requires no taxpayer funds, is crucial to meeting Rhode Island’s public policy goals that seek to reduce greenhouse gas emissions, increase renewable energy deployment and create local jobs.
For building owners, the Rhode Island C-PACE (Program) solves important financial hurdles by providing:
- 100% financing (project dependent, up to 25 year term; no out-of-pocket costs)
- Competitive, fixed interest rates
- Project qualification is based on building finances, not the owner’s credit, net worth or personal guarantee
- On an annual basis, typical projects are cash flow positive to the owner
All projects have multiple participants including government officials, building owners, contractors, capital providers and banks which hold 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:
- Which municipalities are participating in the C-PACE program?
- Does C-PACE use taxpayer dollars to fund projects?
- What are the costs to municipal governments?
- Is the program voluntary for building owners?
- What property types are eligible for C-PACE Financing?
- What energy efficiency improvements are eligible?
- How is a C-PACE assessment repaid?
- In the event of bankruptcy, how is recovery money allocated?
- 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 C-PACE projects?