Milwaukee Commercial PACE: Clean Energy Financing
New financing from Milwaukee PACE helps you make a more profitable and better building!
Property Assessed Clean Energy (PACE) Financing helps commercial property owners affordably finance building upgrades like heating and cooling systems, lighting, controls, and solar.
Pay for improvements over time as you reap the benefits of lower energy and maintenance bills. Payments for the improvement are collected through a voluntary municipal special charge (City Ordinance 304-26.5). The special charge is attached to the property, not the owner, and is paid back through the property tax system over time. Projects should be designed so the annual energy and other savings pay for the special charge for a net positive cash flow. PACE Financing is good for building owners and the community. It creates local jobs, better buildings, and a better environment. With this public-private partnership, private capital is used to supply upfront funding for the work, so that local government budgets are not burdened.
Why You Should Participate Now!
- Improve your net operating income
- Improve the value of your property
- Improve occupant comfort
- Market the "green features of your property"
- Pass on project costs to your tenents over time
- Replace outdated equipment with modern energy efficient equipment
- Longer term financing (up to 20 years) makes compelling economic sense
- Financing availability based on property value not owner credit
- Repayment obligation stays with property if sold or transferred
- Flexible and negotiated financing transaction
- 100% project financing, up to 20% of property value
- Investment may be counted as an operating expense
How It Works
- SHOW INTEREST: Submit the Commercial PACE Financing Interest Form. This form ensures that the property owner fully understands the program requirements prior to developing a project and full application.
- APPLY: Submit completed Commerical PACE Financing Project Application, with supporting documentation:
- GET MORTGAGE HOLDER CONSENT: Provide consent from existing mortgage holder on eligible property.
- CITY APPROVAL: The City and lending partner will review and approve project if it meets the program terms.
- FINANCING AGREEMENT WITH CITY AND LENDER: The property owner, PACE lender, and City will close the financing. Loan closing requires standard bank loan documents, plus the PACE Financing Program Agreement.
Commercial properties in City of Milwaukee (all non-residential properties, multifamily buildings with 5 or more units, industrial, retail, and office space). The property must have no property tax delinquencies for three years, free of title disputes, and clear of involuntary liens or judgments.2 Example projects may include: lighting, boilers, chillers, ventilation systems, water efficiency improvements and renewable energy systems. Note: The minimum project size that are Participating PACE lenders will fund is $150,000.
Small Building Program
The Me² & Focus on Energy Small Business Program provides free assessments to identify energy saving opportunities. In addition, the program helps you start saving energy and money right away with the immediate installation of energy-saving products for the small business owner available in the SILVER package, starting at $0. Receive up to $7,500 in products, such as LED lighting, faucet aerators, and installation services.
Starting at just $129, you will also have the option to upgrade your SILVER product package to include even more energy-saving lighting products. Then, Me² provides financing from Summit Credit Union to help you afford bigger projects for exterior lighting, new heating or cooling equipment, refrigeration, etc.
The Small Business Program is designed for customers that use less than 100kW of electricity, and operate in a variety of fields, including, but not limited to:
• Churches Convenience Stores
• Independent Grocers Non-Profits
• Small Hotels/Motels Small Industries
• Independent Gas Stations
• Day Care Centers Schools
• Strip Mall Tenants Restaurants
• Small Laundromats Small Offices
Click HERE to learn more!
Contact one of our Participating Commercial Contractors listed in the Focus on Energy/Me2 Small Business Providers section or sign up using our online Business Form.
The Me² program (including the City of Milwaukee) does not endorse or guarantee the work or services of any particular consultant or contractor. Me² program participants will be entering into direct relationships with the consultant or contractor of choice.