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Vermont Legislature Sends C-PACE Bill to Governor for Signature

The Commercial Property Assessed Clean Energy (C-PACE) program is on the verge of becoming law in Vermont. Sponsored by Sen. Thomas Chittenden and gaining strong bipartisan support, Senate bill S.138, originally introduced to expand property-assessed financing for energy efficiency, renewable energy and resilience upgrades, has been incorporated into the omnibus economic development bill S.327 and has been sent to the Governor’s desk for signature in the coming days.

Vermont has had limited residential PACE authority since 2013. C-PACE VT closes the gap for the commercial sector, bringing the state in line with 40-plus others.

“C-PACE VT will provide powerful economic benefit as a public asset tool that operates at zero cost to taxpayers and injects lower-cost capital for sustainable construction to drive development,” saidMichele Pitale, M.D., managing director & head of C-PACE, CounterpointeSRE. The company, a unit of MassMutual, is a founding leader in the C-PACE industry.

Photo credit: Farragutful/Wikimedia.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Policy/Gov't