Securitization Insight Ep 5: Commercial PACE Update

Peter Erwin, Associate Director of NYCEEC, joins us to discuss commercial PACE (C-PACE) and some of the barriers that may have delayed launching the program. We discuss incentives to use C-PACE, the similarities and differences in the eligibility requirements for projects in New York City versus other jurisdictions, and the most significant closing costs associated with PACE financings and how the city has tried to minimize these closing costs. Erwin shares the lessons NYCEEC has learned from the first few closed transactions that will inform program design elements going forward, the priorities for NYCEEC and the city in administering this program over the next six to twelve months and any potential changes that may happen under Mayor-Elect Adams.