Columbus setting the “PACE,” according to Kalvas in Columbus Business First article
Property Assessed Clean Energy (PACE) financing continues to be a valuable tool for commercial energy efficiency and sustainability initiatives. Not only is Ohio a PACE leader among other U.S. states, but, as of mid-2019, the Columbus region “had the largest total commercial PACE investment of any single metropolitan region in the nation.”
According to public finance attorney and PACE advisor Colin Kalvas in his article “Columbus setting the PACE nationally for commercial energy efficiency and sustainability financing,” PACE is a winning option for a variety of stakeholders, including property owners, tenants and lenders. This financing option provides up-front capital for certain improvements, such as HVAC and window updates and solar panel installation, and repayment is made over time through special assessments.
Thanks to Columbus’ strong PACE program, this financing solution is both reliable and accessible for commercial properties. In fact, the Columbus-Franklin County Finance Authority has already financed 16 projects, totaling $16.3 million in investment. The region is also being recognized for its “sustainability pursuits” as the winner of the American Cities Climate Challenge and the selected site for the 2020 PACENation Annual Summit.