Capital Stack supported by NMTC and PACE
Case discussion: Amped Kitchens | C-PACE Financing | $4.6 Million | Chicago IL
Project Details
- $4.6 million of C-PACE funding was secured with the consent of a consortium of New Market Tax Credits (NMTC) program
- Investors included: Local Initiatives Support Corporation, Southside Community Redevelopment Enterprise, FirstPathway Partners, Consortium America, Chicago Community Loan Fund, Blue Hub Capital and PNC Bank
- Energy efficiency elements of the buildout (HVAC, ventilation, and LED lighting) supported by PACE financing will yield an estimated 201,808kWh savings per year
How C-PACE works
- property owners gain access to private capital to reduce operational expenses and manage their capital stack effectively
- communities are able to provide an incentive for carbon reduction, public safety, and economic development at zero cost to taxpayers
- building tenants and occupants can benefit from reduced utility costs, increased building performance, and operational resiliency
- state and local legislators can address specific social objectives such as carbon emission reduction goals