As part of a PACE project, the property owner will sign a contract with the local government where the property owner voluntarily consents to having an assessment placed on the property, as a means of paying for the building upgrades. That contract can be found at:
As part of a PACE project, the PACE capital provider will sign a contract with the local government where the government assigns the proceeds of the assessment to the PACE capital provider. That contract can be found at:
The end result of a PACE project is a lien that will be filed with the local tax assessor/collector.
The form for the assessment can be found here:
If there is an existing mortgage on the property, the current lender will have to consent to allowing a PACE assessment on the property. While this can at first sound tricky, with a little leg-work it can be obtained. First, we will help you prepare the case for consent. In addition some resources you may find useful are below:
An overview of why a lender would consent:
A more in-depth manual for how to obtain consent:
Finally, a list of institutions nationally that have consented: