PACE, or Property Assessed Clean Energy, is a new and innovative way for commercial property owners to pay for energy efficiency upgrades, on-site renewable energy projects and water conservation measures.
On April 7, 2015, the Kalamazoo County PACE program was approved by the County Board of Commissioners due to its many benefits:
Financing energy projects is a valid public purpose because it reduces energy costs and greenhouse gas emissions, stimulates economic development, improves property values, and increases employment in the county.
No taxpayer funds or county monies are pledged, committed or used with any project.
All financing is owner-arranged from a commercial lender. Funds are secured and repaid by a special assessment on the property benefited.
Since PACE liens are attached to the property, the debt transfers upon sale to the subsequent property owner. When a property with a PACE loan is sold, the next owner picks up the remaining PACE payments but also benefits from the energy efficiency, water efficiency, or renewable energy improvements.
Please contact Kalamazoo County Planning Department via email or phone 269-384-8115 for more information.
Levin Energy Partners administers the Lean and Green of MichiganTM PACE program in Kalamazoo County. Please follow the links below for more information: