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Clean Energy Financing for Home and Business

Eligibility Requirements

Requirements for Residential Properties

Homeowners now have access to affordable, easy-to-use financing for energy efficiency and renewable energy improvements through the award-winning YgreneWorks™ PACE financing program. Click here to check eligibility and get started.

Property Requirements for Commercial Properties

To qualify for commercial PACE financing through Set the PACE St. Louis, the following criteria listed below must be met:

  • The property to be improved with the Eligible Improvements (the "subject property") must be located in the City of St. Louis.
  • The subject property must be Commercial property.
  • All owners of the fee simple title to the subject property, or their legally authorized representatives, must sign the Program documents. Therefore, before submitting a Project Application, please ensure that all owners (or their representatives) of the fee simple title to the subject property will agree to participate in the Program on the terms set forth in this Program Manual.
  • The financed improvements must be Eligible Improvements and must be installed by an appropriately licensed contractor (see Section 2.1.3).
  • The property owner must further agree to participate in surveys and Program evaluations, which may include access to utility bill usage information.
  • The property owner must certify that it (and its corporate parent if the property owner is a single-purpose entity) is solvent and that no proceedings are pending or threatened in which the property owner (or the corporate parent, as applicable) may be adjudicated as bankrupt, become the debtor in a bankruptcy proceeding, be discharged from all of the property owner's (or corporate parent's, as applicable) debts or obligations, be granted an extension of time to pay the property owner's (and the corporate parent's, as applicable) debts or be subjected to a reorganization or readjustment of the property owner's (and the corporate parent's, as applicable) debts. The property owner must also certify that the property owner (or any corporate parent if the property owner is a single-purpose entity) has not filed for or been subject to bankruptcy protection in the past three years.
  • The property owner must be current in the payment of all obligations secured by the subject property, including property taxes, assessments and tax liens and have had no delinquencies within the past 3 years (or since taking title to the subject property if it has been less than 3 years). The Program Administrator may review public records, including the real property records, to verify compliance with this requirement. The CEDB reserves the right to make allowances for certain property tax payment delays that do not reflect financial distress. Properties that are currently appealing a property tax assessment will be reviewed, and eligibility for the Program will be determined on a case-by-case basis. Property owners must also certify that other properties that they own are current and in good standing with their obligations.
  • There must be no notices of default or foreclosure, whether in effect or released, due to non-payment of property taxes or loan payments filed against the subject property within the last 3 years (or since ownership, if less than 3 years). Exceptions may be granted on a case-by-case basis.
  • The property owner must have no involuntary liens, defaults or judgments applicable to the subject property. The Program may review public records, including the real property records and court documents, to verify compliance with this requirement. A property owner with an involuntary lien(s), default or judgment may be allowed to participate in the Program if it can demonstrate an acceptable reason for the lien, default or judgment and a path for resolution along with supporting documentation.
  • The assessed value of the property plus the value of the Eligible Improvements to be financed by the Program must be equal to or greater than the sum of (i) the total private property debt including mortgages and equity lines of credit secured by the property, (ii) the principal amount of any Program indebtedness attributable to the property, and (iii) the aggregate principal amount of any fixed assessment liens or special tax debt on the property (e.g. combined lien-to-value ratio equal to or less than 100%). If the property does not pass the above test with the assessed value, a property owner may, at its own cost, use an appraised value determined by an Appraiser or market value calculated according to a method identified by the Program Administrator. Property owners with properties that have a mortgage(s) should approach the mortgage lender(s) for consent prior to ordering an appraisal, in case the mortgage lender has a specific appraisal requirement.
  • The total sum of all items appearing on the property's annual property tax bill including annual ad-valorem property taxes, special taxes and assessments, in addition to the special assessment to be levied in connection with the Program, may not exceed 5% of the property's market value. For the purposes of demonstrating value for this requirement, the Program may allow market value to be measured using assessed value plus the cost of the Eligible Improvement. If the property does not pass the above test with the assessed value, a property owner may, at its own cost, use an appraised value identified by a Program-approved Appraiser or market value calculated according to a method identified by the Program. Property owners with properties that have a mortgage should approach the mortgage lender for consent prior to ordering an appraisal, in case the mortgage lender has a specific appraisal requirement.
  • The project amount to be financed is typically capped at 25% or less the assessed or appraised value of the property, whichever is higher. Set the PACE St. Louis offers flexibility on this requirement where the property strongly meets other eligibility criteria. Specialty properties may have more stringent lien-to-value (LTV) requirements.
  • The property owner must certify that it is not party to any litigation or administrative proceeding of any nature in which the property owner has been served, and that no such litigation or administrative proceeding is pending or threatened that, if successful, would materially adversely affect the property owner’s ability to operate its business or pay the special assessment when due, or which challenges or questions the validity or enforceability of the Assessment Contract or any other documents executed by property owner in connection with the Program.
  • The CEDB reserves the right to issue bonds or other financing mechanisms as permitted by the Property Assessment Clean Energy Act. Any bonds issued by the CEDB will be secured by a special assessment. However, the CEDB also utilizes other financing tools permitted by the Property Assessment Clean Energy Act. It is important that property owners pay their special assessment and other property-related obligations in full on a timely basis or risk property foreclosure. Consequently, the CEDB reserves the right to request additional information in its sole discretion and to deny applications based on any information that reflects on the likelihood that a property owner may not pay its special assessment.
Commercial Project Requirements
  • The property owner will be encouraged to participate in appropriate state and local incentive programs to the extent the subject property is eligible for such programs.
  • The financing term may not exceed 20 years. If a project includes multiple products with various terms, the financing term will be determined by summing the dollar value of products under each term and selecting the term associated with the greatest value. If requested, the Program Administrator reserves the right to approve a shorter assessment term.
  • Only permanently affixed, new Eligible Improvements can be financed through the Program. Remanufactured, refurbished, used or new equipment transferred from a previous location are not eligible. Previously installed products are not eligible for Program financing.

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