B&R Plastics Finances a New Roof through Colorado’s C-PACE Program
The following press release is from Colorado’s Commercial PACE Program and is also available on their website.
Lafayette, CO—Colorado C-PACE today announced that B&R Plastics, a precision plastic design manufacturer, will use C-PACE financing to replace the aging roof of its 168,000 sq. ft. facility located at 4550 Kingston Street in Denver.
B&R Plastics considered a number of options to pay for the $1.4 million roof replacement. Darrell Kulzer, Vice President of B&R, said “At the end of the day, the 20-year, fixed-rate term available through C-PACE provided maximum flexibility for our business moving forward.”
Building Energy Performance, a C-PACE Project Developer based in Boulder, CO, worked with B&R to quickly and successfully secure the project financing. “C-PACE capital offers truly unique and attractive terms for building owners that have to handle necessary capital improvements,” said John Bernhardt of Building Energy Performance. “Given the low-risk, long-term, and transferrable nature of C-PACE financing, every building owner should be exploring this mechanism.”
Citywide Banks, a Denver-based community bank that has funded several C-PACE projects in Colorado, provided the 100 percent, 20-year financing to B&R Plastics. Terry NeSmith of Citywide Banks said “the owner truly leveraged all that C-PACE offers. We are thrilled to once again offer C-PACE financing to a local business in need of a new roof, and to do so in a timely manner and with competitive terms.”