The Illinois Finance Authority has developed a standardized, efficient, and affordable Commercial Property Assessed Clean Energy (“C-PACE”) bond financing service for all counties and municipalities in Illinois.
Under Illinois law, counties and municipalities establish C-PACE programs so commercial property owners in their communities can economically finance or refinance up to 100% of their alternative energy, energy efficiency, renewable energy, resiliency, and water use improvement projects on a long-term basis.
To finance a qualifying project, an interested commercial property owner voluntarily enters into a special assessment with the county or municipality, and the county or municipality assigns the assessment contract to the Authority. The Authority then issues PACE bonds which are purchased by capital providers to fund the qualifying project.
Based on the strategic state support model developed by the Authority, the following Illinois counties and municipalities have taken steps necessary to launch and operate PACE programs in their communities:
- City of Chicago
- DuPage County
- Kane County
- Village of Rosemont
- Cook County
- Peoria County
- City of Fairview Heights
- Madison County
- City of Beardstown
Use the links on this page to find additional help and information and follow us on Twitter at: @IFAPACE