January 18, 2022

Colorado Springs Chamber & EDC and El Paso County partner to offer C-PACE loans for commercial and industrial building owners

Colorado Springs, Colo. – A resolution approving the C-PACE loan program in El Paso County passed in today’s El Paso County Board of County Commissioners meeting. The Colorado Springs Chamber of Commerce & Economic Development Corporation led the advocacy to implement C-PACE loans in El Paso County, a financial incentive for commercial and industrial building owners. Following more than two years of collaboration with the county to identify obstacles and solutions, the Chamber & EDC and El Paso County are proud to further support economic development.

“Adapting to changing regulatory environments and unfunded mandates have been a challenge for businesses in El Paso County. I am thrilled to support the C-Pace program as another tool of choice that businesses can use to improve building efficiency, including water and energy.” – Stan VanderWerf, El Paso County Board Chair

“Colorado Springs Chamber & EDC members are very supportive of the tool, and I’ve seen the success of this program in other communities. Making C-PACE available to property owners in El Paso County helps us maintain our reputation as a business-friendly community and enhances our economic competitiveness.” – Cecilia Harry, CEcD, chief economic development officer, Colorado Springs Chamber & EDC

“The C-PACE program will allow certain building owners to make energy efficiency improvements required by recent legislation. We appreciate the support of El Paso County leadership, the cognizance of the El Paso County assessor team, and the technical savvy from the El Paso County treasurer. Without the Chamber & EDC’s persistence to find a collective solution with these leaders, we would not be here today.” – Rachel Beck, vice president of government affairs, Colorado Springs Chamber & EDC

C-PACE loans help commercial and industrial building owners finance up to 100% of energy efficiency, renewable energy, and water conservation improvements that make their properties more efficient, more comfortable, and more valuable. The commercial building umbrella includes nonprofits and affordable housing projects. Financing is provided by private capital providers at competitive rates and can be repaid over up to 25 years. To learn more visit https://copace.com/.