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All eligible improvements must be affixed to an eligible property. <br /> Eligible Properties <br /> Each type of property as prescribed in the PACE Act qualifies for financing or refinancing, or <br /> interim financing, under the IFA PACE Program. <br /> Any of the following types of privately-owned properties located in the PACE Area qualifies for <br /> financing or refinancing under the PACE Act: <br /> • Commercial <br /> • Industrial <br /> • Non-residential agricultural <br /> • Multi-family(of 5 or more units) <br /> • Any property owned by a not-for-profit entity <br /> Eligible Use of Proceeds <br /> The amount of any financing or refinancing, or interim financing, of a PACE Project approved <br /> under the IFA PACE Program may include any and all of the following:the cost of materials and <br /> labor necessary for acquisition, construction, installation, or modification of the PACE Project, <br /> permit fees, inspection fees, application and administrative fees, financing fees, reserves, <br /> capitalized interest, costs of billing the assessment, and all other fees, costs, and expenses that <br /> may be incurred by the record owner pursuant to the acquisition, construction, installation, or <br /> modification of the PACE Project, and the costs of issuance of bonds or notes issued by the <br /> Authority on a specific or pro rata basis, as determined by the Governmental Unit, as evidenced <br /> by its execution of the assessment contract,and may also include a prepayment premium. <br /> While records owners and PACE Project Administrators may choose any licensed contractor or <br /> contractors, each licensed contractor must sign a written acknowledgement that the applicable <br /> PACE Project Administrator will not authorize final payment to the contractor or contractors <br /> until the Governmental Unit has received the Completion Certificate from the record owner that <br /> the PACE Project was properly acquired, constructed, installed, or modified and is operating as <br /> intended; provided, however, that the contractor or contractors retain all legal rights and <br /> remedies in the event there is a disagreement with the record owner. The PACE Project <br /> Administrator is authorized to receive such Completion Certificate on behalf of the <br /> Governmental Unit. The Completion Certificate shall be in substantially the form attached to the <br /> PACE Handbook. <br /> Quality assurance and Antifraud <br /> Quality assurance protocols serve to prevent improper or low-quality construction, installation, <br /> or modification of PACE Projects and protect against fraud and abuse of the IFA PACE <br /> Program. <br /> All work requiring a license under any applicable law to acquire, construct, install, or modify a <br /> PACE Project shall be performed by a licensed contractor that has agreed to adhere to a set of <br /> 7 <br />