PACE Financing

 

The City of Milwaukee’s Property Assessed Clean Energy (PACE) Financing program helps commercial property owners affordably finance energy efficiency, water efficiency, and renewable energy upgrades in their buildings. This public-private partnership leverages private capital to supply upfront funding for the improvements and collects payments 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 are designed so that the annual energy and other savings pay for the special charge, providing a net positive cash flow.

Benefits:

  • Provides private capital to fund your project
  • Financing availability based on property value, not owner credit
  • Repayment obligation stays with property if sold or transferred
  • Longer term financing (up to 20 years)
  • 100% project financing up to 30% of property value (can be appraised value at completion)
  • Potential to pass on project costs to tenants
  • Potential to count investment as an operating expense
  • Improved property value
  • Improved net operating income
  • Improved occupant comfort
  • Replaces outdated equipment with modern, energy-efficient equipment
  • Allows marketing of "green" features of your property

Eligible Properties:

  • Located in the City of Milwaukee
  • Commercial property (all non-residential properties, multi-family buildings with 5+ units, industrial, retail, and office space)
  • No property tax delinquencies for three years
  • Free of title disputes
  • Clear of involuntary liens or judgments

Next Steps:

  • Fill out an Interest Form for your project
  • Give BBC Program permission to forward your information on to Participating Lenders so that they may reach out to you if interested in your project

Completed PACE Projects

Completed PACE projects

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