PACE Program
Are you a commercial or industrial property owner interested in making energy efficient upgrades to your building? Consider PACE, an initiative developed to be a secure financing program for lenders and borrowers.
Property Assessed Clean Energy (PACE) Program
Anne Arundel County participates in PACE, an affiliated lending program that allows property owners to make upgrades with no money down. The financing is then repaid as a benefit assessment on the property tax bill over long terms (up to 20 years). The assessment transfers on sale and can be passed through to tenants where appropriate.
The county has partnered with the Maryland Clean Energy Center to provide PACE financing. To be eligible for the PACE program:
- The applicant must be the legal owner of building
- The building must be a non-residential property or property with 5+ units
- The property must be located within PACE enabled area
- Mortgage not held in a CMBS
For more information on the PACE program, click here.