Creative ways to impact the bottom line
Locating in Aurora has many perks, one of which is the many programs that can save companies money even if they do not qualify for traditional incentives.
C-PACE, a win-win for commercial properties
What is C-PACE?
C-PACE (Commercial Property Assessed Clean Energy) is a public private partnership enabled by state law and county/municipal ordinance. The program is designed to help commercial building owners invest in their property while seeing day-one savings. Through the program, these owners can finance energy efficiency and renewable energy improvements on commercial property.
The C-PACE program can apply to existing properties that need energy efficient upgrades, new development, and even solar and renewable projects.
Private lenders provide 100% of the financing for qualifying projects with competitive rates and 20+ year payback periods. Once finished, these projects reduce utility bills and usually qualify for other tax benefits. Building owners use a portion of the project savings to pay back the up-front funding through a special assessment charge added to their property tax bill.
C-PACE can increase property values and help owners retain tenants in modernized buildings, making it an important economic development tool.
Greenworks Lending is our C-PACE partner
The Aurora Economic Development Council partners with Greenworks Lending for C-PACE project financing. Greenworks Lending is a is a private capital provider uniquely dedicated to funding commercial real estate through Commercial Property Assessed Clean Energy (C-PACE).
Xcel Energy Tools for Economic Development
Companies that located in Aurora benefit from being in Xcel Energy’s service territory because of the competitive energy costs and reliable and safe service. But Xcel Energy also has a suite of programs that can directly help companies save more money.
Its design assistance programs incorporate energy efficiency in building design and construction before you even break ground. Services include personalized computer energy modeling, which predicts energy use of the building, suggests energy-saving strategies to incorporate into the design, and estimates energy-cost savings and construction rebates available for the project.
Xcel Energy also has one of the most extensive energy efficiency program portfolios in the country which allow customers to reduce their energy costs.