As demand grows and climate-change restrictions raise costs, developers are flocking to PACE financing for relief.
Developers grappling with the cost of new laws enacted to combat climate change are taking advantage a little-known finance tool to help pay for green-building requirements.
The model for the loans, known as Property Assessed Clean Energy, was created in 2008 to fund improvements that create environmentally sustainable and resilient properties. Now, developers are turning to PACE loans to help meet tougher environmental standards in more cities and states.
Joe Gose, New York Times: (Read more)