The lessee of a property that is leased through a long-term ground lease, including a ground lease for a property that is owned by the District or another public entity, is eligible for PACE financing and will be treated as the property owner for PACE underwriting purposes if the following conditions are met:

  • The term of the PACE financing does not exceed the remaining term of the ground lease, and
  • There are no terms and conditions in the ground lease that would prevent the property owner from taking on a voluntary special assessment or otherwise participate in DC PACE.