75 Charter Oak Avenue
Hartford, CT 06106
700 Canal Street
Stamford, CT 06902
The Connecticut Green Bank will work with an independent Technical Administrator to determine the Total Eligible Construction Costs (TECC), and review modeling details and projected energy performance. C-PACE new construction financing helps pay for a variety of hard and soft costs directly related to a building’s design and construction. The sum of these costs are the TECC and are determined through a detailed review of the project’s construction budget by the Green Bank and its Technical Administrator partner. These costs may include (but are not limited to) engineering and design expenses, energy modeling, equipment or measures that consume and save energy (e.g., HVAC, lighting, elevators, controls, windows, green or cool roofs, meters, and other green energy measures), landscaping, insurance, and legal & administrative fees).
Costs associated with (but not limited to) land acquisition, marketing expenses any items not affixed to the property (e.g., plug-in appliances) are NOT eligible to be included in the TECC calculation.
Certain technologies qualify as “Bonus Technologies” that can unlock additional financing for developers.
See bonus technologies
Developers using C-PACE new construction financing will demonstrate their building’s energy performance using either whole-building energy modeling or the HERS Index (Home Energy Rating System) for multifamily properties. The building’s designed energy performance and the technologies used will determine the percentage of Total Eligible Construction Costs (TECC) that is eligible for financing.