The City of Saratoga Springs is proud to participate in the Energize NY Open C-PACE (Property Assessed Clean Energy) financing program.
Energize NY Open C-PACE (Property Assessed Clean Energy) provides a low cost, long-term alternative to traditional loans to fund clean energy projects in commercially owned buildings and is operated by Energy Improvement Corporation (EIC).
Open C-PACE is not a bank loan and differs from traditional financing options:
financing is available for up to 100% of the project cost, or can be combined with other financing
competitive private financing from EIC-approved capital providers
customizable loan terms up to the expected life of the improvement
repayment is secured through a benefit assessment lien that is subordinate to municipal taxes
financing automatically transfers to a new owner if the property is sold