Invoicing & Fees
The C-PACE Special Assessment invoicing and payment schedule will follow the City of Philadelphia’s property tax assessment schedule each year as shown below. PEA will invoice the Property Owners and manage enforcement of any delinquent payments. PEA has engaged a Paying Agent to collect payments from Property Owners and to remit the funds to Capital Providers.
Fees
To participate in the Philadelphia C-PACE Program, property owners must agree to pay various administrative and financing fees.
One-Time Program Fee
This one-time fee is due to PEA at financial close. Depending on the amount borrowed, the project will either be charged a flat fee or a percentage of the C-PACE financing amount.
Annual Servicing Fee
Payable to PEA per project per year.
City of Philadelphia Fees
A recordation fee of $262.75 plus a $3.25 submittal fee is due at financial close to record the Statement of Levy and Lien Agreement with the City of Philadelphia Department of Records. Other fees from the City are for the satisfaction of the loan ($206.50) and placement of a lien ($115.69).