Financial Eligibility Criteria
Non-publicly owned commercial, industrial or multi-family properties that can receive a property tax bill within a participating city in Los Angeles County are eligible.
Properties must meet the following criteria in order to be eligible for PACE financing:
- Applicant must be the legal owner of the property, and all of the legal owners of the property must agree to participate.
- Mortgage holder(s) must explicitly consent to the PACE assessment in writing.
- Property owner must be current on any existing mortgage(s); property owner must not have defaulted on the deeds of trust.
- Property must not be subject to any involuntary liens or judgments.
- Property must not have been delinquent on property taxes for the past five years, or since the date of the most recent transfer if less than five years.
- Property will be subject to the appropriate jurisdiction’s permitting inspections and all other applicable federal, state, and local codes and regulations.
- Property owner must not be in bankruptcy and must not have declared bankruptcy within the last 10 years.