Energy Alliance and Port Authority launch GC-PACE
As part of its partnership with the Port of Greater Cincinnati Development Authority (Port Authority) to develop a suite of energy-related economic development programs, the Energy Alliance announced the launch of the new GC-PACE Program.
GC-PACE is an exciting new tool that can be used to finance energy efficiency and renewable energy investments. This economic development tool is designed to provide commercial and industrial building owners with access to affordable, long-term financing for clean energy improvements to their buildings.
GC-PACE allows building owners to finance efficiency and renewable energy improvements through a voluntary assessment on their property tax bill. The repayment obligation transfers automatically to the next owner if the property is sold. Capital is secured by a priority lien on the property, so long-term debt capital can be raised from the private sector.
For more information, go to gcpace.org.