MDPACE
MDPACE is a statewide program that provides turn-key, low cost, standardized C-PACE (Commercial Property Assessed Clean Energy) program services to property owners, capital providers, contractors, and local governments in the state of Maryland.
MDPACE is a simple and effective way for county governments to create jobs, retain businesses, and keep dollars in the local economy without raising taxes – simply by helping to make commercial buildings more energy-efficient. Property owners accept a voluntary tax assessment to fund projects ranging in size from $50,000-$100,000.
MDPACE Program Principles
- Keep it Low Cost and Simple: Establish clear, concise guidelines and transparent processes without high fees.
- Keep it Open: Catalyze innovation and promote growth through open market innovation.
- Keep it Standard: Enable scale by implementing one set of rules for capital providers and contractors.
About C-PACE Programs
As an assessment like a real estate tax, C-PACE is a simple and effective way for county governments to realize a range of benefits by helping make commercial buildings more energy efficient. Learn more about the benefits of these programs, and the kinds of projects that qualify.
For Commercial Property Owners
With C-PACE, property owners benefit from no money down and extended repayment terms. They can realize positive cash flow from day one.
For Contractors
Contractors can use C-PACE to fund projects that would not get funded otherwise and to incorporate valuable energy efficiency measures into a project.
For Capital Providers
For capital providers, C-PACE is a financing product secured by the property and a method of improving the value of existing assets.
For Municipalities
C-PACE is a means for governments and municipalities to improve economic development and energy efficiency, all without using tax payer funds.
Jurisdictional Differences
Because PACE loans are enabled by jurisdictions adopting enabling legislation through an ordinance adhering to legislative principles, C-PACE loan administration procedures in Maryland vary by county.
Who We Are
Abacus Property Solutions (Abacus) was selected by MCEC as the administrator for the MDPACE Program. Abacus is a woman-owned real estate advisory firm, specializing in the development and financing of clean energy projects in commercial buildings, including financing, advising commercial building owners, lenders and public sector clients in PACE project and program development including crafting of PACE legislation, creating program guidelines, and launching and administering PACE programs.