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C-PACE for Bankers: What is C-PACE and Why Would My Institution Consent?

Presented in partnership with Philadelphia Energy Authority

This educational event is for commercial lender real estate team leads, senior credit officials, and others with a vested interest in C-PACE.

C-PACE is an alternative financing mechanism for property upgrades that improve energy efficiency, utilize renewable energy, and conserve water. C-PACE makes it possible for owners and developers of commercial, industrial, agricultural, and nonprofit properties to obtain low-cost, long-term, fixed-rate financing funded by private capital providers. C-PACE is relatively new in PA, though it has been around for more than ten years in other states. Approximately 32 states have enacted C-PACE legislation, enabling more than $1 billion in private financing of 2,000+ projects.

Mortgage lenders are an integral part of C-PACE as all C-PACE financings must have lender consent. Furthermore, C-PACE projects generally increase properties’ collateral value and reduce building operating costs. This presentation will further define C-PACE and mortgage lenders’ role in getting a project financed.

This presentation is free for all attendees.


Registration for this event is now closed.



Shannon Crooker
Director of Program Related Investments, Sustainable Energy Fund

As Sustainable Energy Fund’s Director of Program Related Investments (PRI), Shannon manages and oversees investments, to include Commercial Property Assessed Clean Energy (C-PACE) and our Social Impact Loans, which are designed to advance sustainable energy throughout the CommonwealthShe has been striving to apply living systems theory to her work at Sustainable Energy Fund since 2018. As a whole, Sustainable Energy Fund has been reflecting and contemplating how we can better serve the nonprofit industry through energy programs and investments. Shannon’s commitment to sustainability has defined her career in the green building industry since she separated from the US Air Force in 2007. She started out as a LEED Consultant, learning the trade from pioneers in the industry at 7group. In this role, she managed a carbon offset program, reviewed LEED certifications, and helped develop sustainability guidelines for private and government entities.  


Jeanne Fields
Fulton Bank, VP Commercial Community Development Lending

Jeanne joined Fulton Bank in November 2017 as the Commercial Community Development Lending Officer for the Greater Philadelphia region. In this role, Jeanne provides financing for affordable housing and economic development projects serving low- to moderate-income communities utilizing various tax credit and tax-advantaged programs. Much of Jeanne’s banking career, which spans over 35 years and a variety of positions, has been actively involved in community and economic development activities in Philadelphia. Her current volunteer activities include serving on the board and as Treasurer for Community Lenders CDC, serving on the board of Entrepreneur Works and the Entrepreneur Works Fund and serving on the Finance Committee of Germantown Cricket Club.


Doug Hoffman
Keystone Property Group, Chief Financial Officer

Chief Financial Officer: Mr. Hoffman has served as Keystone’s Chief Financial Officer since July 2020 after starting his Keystone career as Senior Vice President of Finance in May 2018. Prior to joining Keystone, he was the Chief Financial Officer of Every Day Networks (previously MasterChannel), Chief Accounting Officer and Senior Vice President Finance at J.G. Wentworth, and Vice President of Finance and Controller at Wrenchead, Inc., in White Plains, New York. Mr. Hoffman’s positions before Wrenchead, Inc. include accounting operations manager at GE Capital Commercial Finance in Stamford, Connecticut and senior auditor in Arthur Anderson LLP’s Enterprise Practice in San Francisco, California. Mr. Hoffman is a Certified Public Accountant, and he graduated from Penn State University with a B.A. Mr. Hoffman also holds a Master of Business Administration degree from Tulane University.


Cliff Kellogg
C-PACE Alliance, Executive Director

Cliff Kellogg is the Executive Director of the C-PACE Alliance, a position held since 2017. C-PACE Alliance offers technical assistance to emerging Commercial Property Assessed Clean Energy (C-PACE) programs, publishes best practice papers and seeks to strengthen C-PACE Program Administrators. Cliff’s federal government experience includes service as the Executive Director of the Detroit Federal Working Group, coordinating the federal government’s assistance to the City of Detroit immediately upon its exit from municipal bankruptcy, and as the Director of the U.S. Treasury’s State Small Business Credit Initiative, awarding $1.5 billion to states for loan and equity programs for small businesses. Earlier, Cliff worked at the National Economic Council and the US Treasury helping to develop the New Markets Tax Credit.