PACE Financing

The City of Milwaukee’s Property Assessed Clean Energy (PACE) Financing program helps commercial property owners affordably finance energy or water efficiency, renewable energy, electric vehicle infrastructure, energy reliability, stormwater controls or "green infrastructure," and other resiliency 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 a direct billing 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 over the life of the upgrades.

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 30 years)
• 100% project financing up to 20-30% 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• Replaces outdated equipment with modern, energy-efficient equipment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
• Added amenities such as EV Charging stations to attract tenants

Eligible Properties:

• Located in the City of Milwaukee (Property not located in the City? Consider PACE Wisconsin)
• 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:

• Get Started with the the Project Center
• Create a login and complete the Pre-Application
• A member of our team will reach out to discuss the Pre-Application and next steps

Completed PACE Projects

For more examples of completed projects, click here.

	The Trade PACE Financing: $7,500,000 Improvements: Building Shell, HVAC, HVAC Control, LED Lighting, Water Conservation
	LP Park Partners PACE Financing: $178,454 Improvements: Interior and exterior LED lighting retrofit, including lamps, switches, occupancy sensors, and daylight harvesting for tenant spaces, common areas, mechanical/storage rooms, stairwells,and parking lot.
	Eagleknit PACE Financing: $1,000,000 Improvements: Windows, roof, lighting
	Jeffers PACE Financing: $1,490,000 Improvements: PV, Lighting, HVAC, Elevator
	Cambria Hotel PACE Financing: $3,205,608 Improvements: Roof, Wall, window, interior and exterior LEDs, low flows, DHW
	Commerce Building PACE Financing: $2,700,320 Improvements: Windows, HVAC, DHW heat exchanger, interior LED
	Grand Avenue Apartments PACE Financing: $249,999 Improvements: Electrical, HVAC, plumbing, windows
	Mackie Building PACE Financing: $1,894,040 Improvements: Windows, wall insulation, RTU, ERV, VRF, DHW, low-flow, elevator
	Pabst Brewery Lofts PACE Financing: $6,218,996 Improvements: Roof, wall, window, interior and exterior LEDs, HVAC (WSHP and RTUs), low flows
	Plankinton Building PACE Financing: $760,880 Improvements: VAV, VFD, ECM, fans, thermostats, interior and exterior LED
	The Avenue PACE Financing: $1,500,000 Improvements: Windows, Interior LEDs
	University Club PACE Financing: $695,150 Improvements: Interior lighting, PTACs, make up air replacement, steam trap replacement, windows, hood controls, refrigeration controls