Local improvement charges (LICs) allow municipalities to amortize the costs of local infrastructure improvements through property taxes. Similarly, Property Assessed Clean Energy (PACE) financing allows a building owner to repay the cost of an energy retrofit through their own property taxes. The cost of the improvement is attached to the property, not the owner, and is transferable in the event the property is sold. PACE programs may be either residential (R-PACE) or commercial (C-PACE).