Aurora Approves New Loan Program for Sustainable Building Upgrades

The city is partnering with the Illinois Finance Authority to offer C-PACE financing for commercial properties.

Jan. 28, 2026 at 3:07pm

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The Aurora City Council has approved the creation of a new lending program, run by the Illinois Finance Authority, that will offer loans to commercial property owners for sustainability upgrades such as energy efficiency improvements, renewable energy installations, water conservation systems, and electric vehicle charging stations. The program, known as C-PACE, allows property owners to finance up to 100% of project costs and repay the loans through a special assessment on their property tax bill.

Why it matters

This program is expected to support both economic development and sustainability goals in Aurora by providing an incentive for commercial property owners to invest in upgrades that reduce energy use, water consumption, and greenhouse gas emissions. It also makes it easier for owners to fund larger renovation projects that incorporate energy-saving measures.

The details

The C-PACE program has been available statewide in Illinois since 2017, but individual local governments need to approve its use within their boundaries. Aurora's program will be administered by the Illinois Finance Authority, which will issue bonds or notes through private lenders to fund the loans. Property owners can receive fixed, low-interest loans for terms up to 40 years, with the debt tied to the property rather than the owner. The city of Aurora will not provide any direct funding but will have final approval over the loans.

  • The Aurora City Council approved the C-PACE program on January 28, 2026.
  • The Illinois Finance Authority's C-PACE program has been available statewide since 2017.

The players

Illinois Finance Authority

A state agency that will administer the C-PACE financing program in Aurora and work with private lenders to provide the loans.

Alison Lindburg

The director of sustainability for the city of Aurora, who has said the program will support both economic development and sustainability goals.

Brad Fletcher

A representative of the Illinois Finance Authority who told the Aurora City Council that the C-PACE program is designed to attract private capital for property upgrades.

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What they’re saying

“This is not a state funding program. This is attracting private capital with the best mousetrap that we can design for the property owners in our communities.”

— Brad Fletcher, Representative, Illinois Finance Authority (chicagotribune.com)

“This program will bring 'another tool to our tool belt' for improving buildings within Aurora.”

— Alison Lindburg, Director of Sustainability, City of Aurora (chicagotribune.com)

What’s next

The Illinois Finance Authority will begin working with private lenders to provide C-PACE loans to eligible commercial property owners in Aurora.

The takeaway

Aurora's new C-PACE financing program is expected to spur investment in sustainable building upgrades, supporting the city's economic development and environmental goals by making it easier for commercial property owners to fund energy efficiency, renewable energy, and other sustainability improvements.