Board of Commissioners announces PACE Clean Energy program symposium

On Monday, March 6, the Oakland County Department of Economic Development & Community Affairs, in partnership with the Oakland County Board of Commissioners and Lean & Green Michigan, will host an informational meeting for local officials and economic development professionals regarding the Property Assessed Clean Energy (PACE) program, which promotes increased energy efficiency and renewable energy systems across Oakland County. The meeting will begin at 9 a.m. in the Oakland County Conference Center at 2100 Pontiac Lake Road in Waterford, Michigan.
Oakland County Board of Commissioners Chairman Michael J. Gingell will welcome attendees prior to a presentation by Andy Levin, president of Lean & Green Michigan and administrator of the Oakland County PACE program. Levin will give an overview of the PACE program and how it works, followed by a Q&A session.

“Access to affordable and clean energy is a must for many private businesses seeking to invest or reinvest in our region. Having the opportunity to positively impact the profitability of a company and the environment is important. We are pleased to add PACE as a new and effective new tool in Oakland County’s economic development toolbox,” said Michael J. Gingell, chairman of the Board of Commissioners

“It’s our pleasure to host an informational session for our local communities to better understand this new tool available to all in Oakland County,” said Irene Spanos, director of Economic Development & Community Affairs in Oakland County.

“PACE financing is such a powerful tool to help commercial property owners save money and upgrade their property,” said Levin. “We are really excited that Oakland County is leading the way to educate businesses about the opportunity to reduce energy and water waste and add onsite energy generation through PACE.”

The Oakland County Board of Commissioners voted to create the PACE program on November 10, 2016. The program works by enabling commercial, industrial and multi-family property owners to take on a voluntary special assessment in order to achieve favorable terms and longer amortizations in financing energy efficiency improvement projects. The program will bring new economic development tools to entice reinvestment and redevelopment county-wide while simultaneously helping to green local communities.

The program is based on Public Act 270 (2010), which authorizes local units of government to adopt PACE programs in order to promote the installation of energy efficiency improvements and renewable energy systems in commercial or industrial properties. Municipalities following the statute may contract for financing, but in the case of Oakland County it is important to note that no county funding will be used for the PACE program. Rather, financing must be obtained by private funding sources.
 

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