On December 10, 2013 Farmington Town Council authorized the town manager to partner with the Clean Energy Finance and Investment Authority (“CEFIA”) to offer a clean energy financing program for commercial and industrial properties located in Farmington. Farmington commercial property owners can receive 100% upfront low –cost and longer term financing for clean energy improvements to their properties. The upfront funding for the energy improvements costs will be repaid through a benefit assessment charge on their property tax bill. This innovative financing model will allow building owners to access cleaner, cheaper and more reliable energy. Farmington joins one of the fastest growing PACE programs in the country, with over 6o Connecticut municipalities participating and over 15 million dollars leveraged over the past 10 months. C-PACE is administered by the Clean Energy Finance and Investment Authority (CEFIA) as part of the State’s Energize Connecticut initiative, which is intended to help consumers save money and use clean energy. Kathy Eagen sees this as a fantastic economic development tool and a tremendous opportunity for Farmington businesses.
“Participation in the C-PACE program is one of several initiatives Farmington is undertaking to improve energy efficiency and support clean energy measures throughout the town, said Kathy Eagen, town manager. C-PACE will allow our businesses to reduce energy costs, upgrade their buildings and remain competitive”
CEFIA was established by Connecticut’s General Assembly on July 1, 2011 as a part of Public Act 11-80. This new quasi-public agency supersedes the former Connecticut Clean Energy Fund. CEFIA’s mission is to help ensure Connecticut’s energy security and community prosperity by realizing its environmental and economic opportunities through clean energy finance and investments. As the nation’s first full-scale clean energy finance authority, CEFIA will leverage public and private funds to drive investment and scale-up clean energy deployment in Connecticut. For more information about CEFIA, please visit www.ctcleanenergy.com.
Farmington businesses should contact Rose Ponte, Economic Development Director for more information, or visit http://www.c-pace.com/