The Alaska C-PACE program (“AK C-PACE”) is a C-PACE program administrative platform – including all requisite template documents to establish and operate a C-PACE program – that any eligible municipality in Alaska can adopt.
AK C-PACE was designed with three principles in mind:
Low-Cost
The Alaska legislature enabled C-PACE in 2017. Since property taxes are collected at the local level, the law requires that local legislation also be passed to take advantage of C-PACE financing. The AK C-PACE program allows first- and second-class boroughs and their legal equivalents in Alaska to adopt the AK C-PACE administrative platform at no cost.
Simple
The AK C-PACE administrative platform has been designed to be simple for municipalities to adopt and amdinister, enabling scalability and promoting the growth of C-PACE across Alaska.
Standard
The AK C-PACE administrative platform allows for the implementation of one set of clearly defined rules across the state. Uniformity in guidelines for determining C-PACE eligibility and documentation for creating a C-PACE assessment instills confidence in capital providers, property owners, mortgage lenders, appraisers, contractors, and other parties participating C-PACE funded projects.
To learn more about how the AK C-PACE program was created, click here.
To view the AK C-PACE program documents, click here.