What is PACE? PACE (Property Assessed Clean Energy) is real- estate financing available to commercial property owners to reduce energy/water waste. Why PACE? Commercial buildings use tremendous amounts of energy. Much of that energy and capital expense become wasted due to energy inefficiencies. Through PACE, commercial property owners can receive 100% financing for energy efficiency improvements to their buildings. PACE helps property owners in Michigan (and across the nation!) save on their utility bills and reduce their impacts on the environment. What is LAGM? Lean & Green Michigan is the statewide administrator for PACE financing. As of March 2020, LAGM administers PACE in 44 local units of government across Michigan, covering over 71% of the state’s population. For updates on currently participating local governments, visit our website at www.leanandgreenmi.com. Qualifying Properties Commercial & Industrial: hotels, hospitals, restaurants, office buildings & more. Multifamily housing: both market-rate and low-income apartment buildings. Agricultural: farms, wineries & more. Nonprofits: houses of worship, private schools, cooperatives & more. Qualifying Projects Retrofits Gut rehabs New construction Refinancing of any of the above Qualifying Upgrades Energy efficiency: lighting, HVAC, windows, insulation, roofing, caulking & more. Water efficiency: stormwater recapture, low-flow toilets / sinks / showerheads, greywater systems & more. Renewables: solar energy, wind energy, EV charging, geothermal, CHP & more. Visit www.leanandgreen.com for more information. Cambria Hotel –Detroit The new construction project at the Cambria Hotel received over $6.8 million in PACE financing for energy upgrades such as LED lighting, HVAC, building envelope, and EnergyStar kitchen and laundry appliances. The owner of this property is expected to recoup this investment and see a total 20-year savings of over $9.7 million. St. Clair Inn – St. Clair The project at the St. Clair Inn received over $5.5 million in PACE financing for efficiency upgrades such as LED lights, HVAC, windows and water conservation measures. The owner of this property is expected to recoup this investment and see a total 20-year savings of over $7.4 million. 515 Ionia, Lansing In addition to Brownfield TIF, bank finance, and historic tax credits, the project at 515 Ionia received over $247,000 in PACE to finance solar PV, CHP power, electric vehicle charging and LED lighting improvements. The owner of this property is expected to recoup this investment and see a total 20-year savings of over $515,000.
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
What is PACE? PACE (Property Assessed Clean Energy) is real-estate financing available to commercial property owners to reduce energy/water waste.
Why PACE? Commercial buildings use tremendous amounts of energy. Much of that energy and capital expense become wasted due to energy inefficiencies.
Through PACE, commercial property owners can receive 100% financing for energy efficiency improvements to their buildings. PACE helps property owners in Michigan (and across the nation!) save on their utility bills and reduce their impacts on the environment.
What is LAGM? Lean & Green Michigan is the statewide administrator for PACE financing. As of March 2020, LAGM administers PACE in 44 local units of government across Michigan, covering over 71% of the state’s population. For updates on currently participating local governments, visit our website at www.leanandgreenmi.com.
Qualifying PropertiesCommercial & Industrial: hotels, hospitals, restaurants, office buildings & more.
Multifamily housing: both market-rate and low-income apartment buildings.
Agricultural: farms, wineries & more.
Nonprofits: houses of worship, private schools, cooperatives & more.
Qualifying Projects Retrofits Gut rehabs New construction Refinancing of any of the above
Qualifying Upgrades Energy efficiency: lighting, HVAC, windows, insulation, roofing, caulking & more.
Water efficiency: stormwater recapture, low-flow toilets / sinks / showerheads, greywater systems & more.
Renewables: solar energy, wind energy, EV charging, geothermal, CHP & more.
Visit www.leanandgreen.com for more information.
Cambria Hotel–Detroit The new construction project at the Cambria Hotel received over $6.8 million in PACE financing for energy upgrades such as LED lighting, HVAC, building envelope, and EnergyStar kitchen and laundry appliances. The owner of this property is expected to
recoup this investment and see a total 20-year savings of over $9.7 million.
St. Clair Inn–St. Clair The project at the St. Clair Inn received over $5.5 million in PACE financing for efficiency upgrades such as LED lights,
HVAC, windows and water conservation measures. The owner of this property is expected to recoup this investment and see a total
20-year savings of over $7.4 million.
515 Ionia, LansingIn addition to Brownfield TIF, bank finance, and historic tax credits, the project at 515 Ionia received over
$247,000 in PACE to finance solar PV, CHP power, electric vehicle charging and LED lighting improvements. The owner
of this property is expected to recoup this investment and see a total 20-year
savings of over $515,000.
Michigan’s EnergyFinance Marketplacetm
PACE Financing
Want to learn more aboutPACE financing?
Let’s [email protected]
313.444.1474
Alger
*** **
*
*
*
Alcona
Allegan
AlpenaAntrim
Arenac
Baraga
Barry
Bay
Benzie
Berrien Branch
Calhoun
Cass
Charlevoix
Cheboygan
Chippewa
Clare
Clinton
Crawford
DeltaDickinson
Eaton
Emmet
Genesee
Gladwin
Gogebic
GrandTraverse
Gratiot
Hillsdale
Houghton
Huron
Ingham
Ionia
Iosco
Iron
Isabella
JacksonKalamazoo
Kalkaska
Kent
Keweenaw
Lake
Lapeer
Leelanau
Lenawee
Livingston
Luce
Mackinac
Macomb
Manistee
Marquette
Mason
Mecosta
Menominee
Midland
Missaukee
Monroe
Montcalm
Montmorency
Muskegon
Newaygo
Oakland
Oceana
Ogemaw
Ontonagon
Osceola
Oscoda
Otsego
Ottawa
Presque Isle
Roscommon
Saginaw
St. Clair
St. Joseph
Sanilac
Schoolcraft
Shiawassee
Tuscola
Van Buren Washtenaw Wayne
Wexford
*See our website www.leanandgreenmi.com for the most up-to-date map of our participating PACE jurisdictions.
COUNTIESAntrimBayCalhounDeltaEatonEmmetGeneseeGrand TraverseGratiot HoughtonHuronInghamJackson
CITIESBath Twp.Bedford Twp.Bloomfield Twp.Cascade Twp.FerndaleGrand RapidsHartland Twp.HillsdaleJackson
Benefits of PACELong-term financing (up to 25 years)
No upfront costs — 100% financing!
Immediate positive cashflow
Energy savings guaranteed for projects above $250,000
Fixed interest rates
Non-recourse loans that run with the property
Great sustainability/environmental PR 30% POST-CONSUMER
PACE Participating Jurisdictions
KalamazooLeelanauMacombMarquetteMidlandMontcalmOaklandOtsegoSaginawSt. ClairSt. JosephWashtenawWayne
KentwoodOrion Twp.Pleasant RidgePontiacRochester HillsRoyal OakSouthfieldTroyWyoming
Related Documents
