Sunday, April 14, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, August 11, 2022
Act 183: C-PACE in Hawaii
By News Release @ 6:56 AM :: 1630 Views :: Energy, Small Business


News Release from DBEDT, Aug 8, 2022

HONOLULU – Hawaii joined thirty-nine other states when Governor Ige signed Act 183 (SLH 2022) into law authorizing Commercial Property Assessed Financing (C-PACE) in Hawai‘i. The legislation authorizes the Hawai‘i Green Infrastructure Authority (HGIA), an agency attached to the Department of Business, Economic Development and Tourism (DBEDT), to establish program guidelines and administer C-PACE for the soon-to-be available financing program.

C-PACE enables eligible commercial property owners to access financing for qualifying improvements on their property and repay the investment through a voluntary assessment, similar to a real property tax. C-PACE is a non-accelerating, senior lien secured by the property. The repayment obligation may transfer automatically to the next owner if the property is sold, and in the event of default, only the payments in arrears are due. This arrangement spreads the cost of the qualifying improvements over the expected life of the measure. Because the payment is secured by a senior lien, C-PACE projects are seen as less risky and below market capital (compared to interest rates charged for regular equipment loans) can be raised from the private sector. According to PACENation, to date, over 325,000 property owners have invested over $9.0 billion in qualifying improvements utilizing property assessed financing.

“In collaboration with Hawai‘i’s four counties, C-PACE will unlock new markets for commercial banks and other private capital providers to help the State address a number of critical initiatives for commercial property owners, including aging cesspools, water conservation, energy efficiency upgrades, resiliency measures and transitioning to clean energy, while creating jobs and providing other economic development benefits” said DBEDT Director Mike McCartney.

“We are excited that local banks as well as private capital providers, like Petros Pace Finance and Nuveen Green Capital, are leaning in to provide commercial property owners in a Hawaii an exciting new financing tool,” said Gwen Yamamoto Lau, HGIA executive director.  “Additionally, we have already received a number of inquiries from major developers, including Meridian Pacific, Ltd. and the Kobayashi Group, as well as small business owners for projects located in all four counties, demonstrating interest and demand for this financing mechanism.”

County codes will likely need to be amended to accommodate this new financing program. HGIA anticipates the C-PACE program to be available during the first quarter of 2023 while it develops program guidelines in collaboration with C-PACE lenders, stakeholders and county officials.


PBN: Hawaii Gov. David Ige signs legislation authorizing C-PACE financing

US Dept of Energy: Commercial Property Assessed Clean Energy (C-PACE)

2022: Bill 45: Rail TOD Giveaway to High Tech Tax Credit Schemers


TEXT "follow HawaiiFreePress" to 40404

Register to Vote


808 Silent Majority

Aloha Pregnancy Care Center


Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii


Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together



Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport


OHA Lies

Opt Out Today

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii


Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii