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tweetLafayette, CO—Colorado C-PACE announced today that Palmer Properties in partnership with Air Comfort will use $130,000 in CO C-PACE financing to convert a former IHOP into a new Big Red F Post Chicken & Beer restaurant. Located at 1002 South College Avenue in Fort Collins, the retrofit will include a major overhaul of the air conditioning and space heating systems.
Financing was provided by Inland Green Capital via the CO C-PACE program’s open market funding model. Jason Stringer, Vice President of Inland Green Capital, said, “While Inland has provided PACE financing nationwide for years, this is our first Colorado project. We are thrilled to be part of one of the most successful PACE programs in the country and look forward to many more projects in the future.”
About Colorado C-PACE
A program of the New Energy Improvement District (NEID), administered by Sustainable Real Estate Solutions, Colorado C-PACE facilitates financing for energy and water improvements in new and existing commercial buildings, including new heating/cooling systems, lighting, water pumps, insulation, and renewable energy projects. C-PACE offers long-term financing that covers 100 percent of the project cost and is repaid over a period of up to 25 years. The payments are structured as a regular line item on the property tax bill. When a property is sold, the C-PACE assessment can stay with the property and transfer to the new owner, who enjoys the ongoing utility cost savings associated with the project.
About SRS
Sustainable Real Estate Solutions (SRS) partners with state and local governments to administer commercial property assessed clean energy (C-PACE) programs. Founded in 2010 by experienced commercial real estate and energy efficiency professionals, the company’s proprietary technology-enabled EPIC™ application streamlines the management of the data-intensive C-PACE technical and financial underwriting process. SRS’s Investor Confidence Project-credentialed quality assurance methodology has facilitated more than $400 million in C-PACE financing nationwide. SRS empowers C-PACE public-private partnerships across the country. The company is based in Trumbull, Connecticut.
About Inland Green Capital LLC
Inland Green Capital LLC is an environmental finance and investment company that provides capital for energy efficiency solutions for its Borrowers using PACE and other funding tools throughout the country. For more information about Inland Green Capital, please refer to the company website at www.inlandgreencapital.com.