what is pace? - st. louis green business...
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What is PACE?
• Property Assessed Clean Energy
(PACE) is an innovative way for property owners to pay for energy upgrades.
• Public-Private Partnership.
• Repaid through a special assessment on the property – up to 30% of property value.
• Non-recourse, fixed rate financing for up to 20 years.
• Pays for 100% of the improvement costs.
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When would I use it?
LED Lighting Commercial Boilers VRF HVAC Systems Chillers
Fume Hoods Escalators Refrigeration Parking Lights
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Elevators Cool Roofs Windows Solar PV Controls
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MO – St. Louis City, County, St. Charles, etc.
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* - Kansas PACE (CID Act) ** - Oklahoma PACE (Improvement District Act)
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Where?
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• Close a financing gap to get a building
project off the ground (PACE can be combined with other financing options such as bank financing, equity, and secondary).
• Replace cash for owner occupied building projects; cash can be invested in operating business or elsewhere
• Reimbursement for an energy project that's already completed – e.g. LED lighting or HVAC upgrades
• Upgrade buildings that are in disrepair and too expensive to operate
Why select PACE financing?
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How does it work? Determine
Energy Components
Get Contractor Analysis
Letter of Intent -due
diligence
Determine PACE District
§ Set the PACE § MCED § Show Me PACE
PACE Funders
Energy Engineering Select PACE
Developer (Concierge)
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What is the process: Concierge of the Energy Efficiency Project + Funding
Structured Process to manage transaction cost and implementation:
• Conduct Preliminary Energy Analysis
• Identify Energy Conservation Measures (ECM)
• Evaluate Property, Principals and Finances for the Building
• Maximize all incentives (including utilities) to create the best business case
• Develop business case (scope, savings, cost)
• Create Strategy to assemble team, best PACE District and ideal Funder
• Letter of Intent • Due Diligence • Collect all Documents • Select Funder • Secure Lender Consent • Detail scope, cost savings and
contractor selections • Select PACE administrator
based on project requirements
• Submission of full application package to selected PACE district
• Execute loan & assessment agreements
• Manage draw payments
Phase 3: Close
Phase 2: Project Development
Phase 1: Exploration & Strategy
Development
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Tami Martens
Managing Director – St. Louis 10502 Manchester Road, Suite 205
St. Louis, MO 63122 Cell: 314.277.2036
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www.pacesage.com www.techsmartenergy.com