As we advised in a previous post on this blog, the Garden State Commercial Property Assessed Clean Energy (C-PACE) program was established by the New Jersey Economic Development Authority (EDA) as a mechanism to finance, among other things, commercial renewable energy projects, energy efficiency initiatives, electric vehicle charging stations, microgrids, power purchase agreements, as well as water efficiency and other authorized improvements where “capital providers” pay the upfront costs of the project and are then repaid through a real property assessment levied by the participating municipality.

Under C-PACE preliminary draft guidelines posted by the EDA on its website on April 13, 2023, “eligible properties” are defined to include “schools, hospitals, institutions of higher education, or religious institutions” that otherwise meet the eligibility criteria. Accordingly, the C-PACE program is expected to be a popular option for hospitals and other healthcare sector entities looking to rehabilitate facilities or adopt clean energy initiatives while seeking to avoid the upfront capital expenditures typically required for such projects.

This Client Alert by Greenbaum attorney Maura E. Blau provides an overview of key definitions, application and eligibility criteria, fees and more as outlined in the EPA’s draft guidelines, on which public comment will be open through May 15, 2023.

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Photo of Maura E. Blau Maura E. Blau

Counsel, Environmental Group

Ms. Blau counsels clients on a broad range of environmental and energy related matters. Her work encompasses environmental assessments and due diligence for complex real estate transactions and public-private partnerships, regulatory interpretation and compliance under ISRA and other environmental statutes…

Counsel, Environmental Group

Ms. Blau counsels clients on a broad range of environmental and energy related matters. Her work encompasses environmental assessments and due diligence for complex real estate transactions and public-private partnerships, regulatory interpretation and compliance under ISRA and other environmental statutes, air and water permitting requirements, contaminated site remediation and brownfield redevelopment under New Jersey’s Site Remediation Reform Act and LSRP program, and underground storage tank issues. She works closely with environmental consultants and engineers to identify potential environmental risks, and in the preparation of technical reports and regulatory submissions.

Ms. Blau has a longstanding interest and particular practice focus with respect to alternative energy, sustainable building initiatives and climate change issues. Her experience includes solar energy and cogeneration/combined heat and power (CHP) projects. She closely follows related legislative and regulatory developments at the state, federal and global levels, and played a role in crafting the New Jersey Energy Master Plan as an engineer with the former NJ Department of Energy. She has also completed coursework in Climate Change Law at Pace Law School, offered as part of its environmental LLM curriculum.

Ms. Blau has degrees in environmental science and mechanical engineering as well as law, a background which enables here to understand environmental and energy related issues, building operational systems and the tools of sustainability from the technical detail perspective. She assists clients with the task of interpreting complex technical data and is able to coordinate the efforts of multidisciplinary teams to achieve project objectives.

Contact information:

mblau@greenbaumlaw.com | 732.476.2754 | vCard

For more information visit the Greenbaum, Rowe, Smith & Davis LLP website.