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Illinois Finance Authority Commercial PACE.

IFA C-PACE can finance eligible improvements to commercial, industrial, nonprofit, agricultural, and larger multifamily property, but Chester and Randolph County are not currently listed as participating PACE areas.

Offered byIllinois Finance Authorityverified 2026-07-10

Overview

What it does.

A local government must first establish the IFA PACE Program. Until Chester or Randolph County adopts the required ordinance and program report, a Chester project cannot use this financing.

Best for: Future consideration if Chester or Randolph County elects to establish a PACE area.

Eligibility

Who and what may qualify.

Eligible applicants

  • Owners or developers of eligible property located in a participating Illinois PACE area

Applicants excluded by the source

  • Projects in a county or municipality that has not adopted the required PACE ordinance and program report

Eligible uses

  • Eligible energy-efficiency, renewable-energy, resiliency, water-use, and electric-vehicle charging improvements
  • Eligible new construction and refinancing

Application

How to start.

  1. Do not present C-PACE as currently available in Chester.
  2. A city or county would first adopt the IFA enabling ordinance and program report.
  3. After local establishment, an eligible owner would work with an approved capital provider and IFA.

Timing: No Chester application is possible until a local PACE area is established.

Planning notes

Limits to account for.

  • Chester and Randolph County are not on IFA's current participating-jurisdiction list.
  • Local adoption does not obligate the government to approve a project or use public funds.

If established locally, coordinate with tax credits, utility incentives, and senior lenders.

Evidence

Official sources.