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For questions, contact us at:

1.800.522.3014

PACE@milwaukee.gov

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 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  • Replaces outdated equipment with modern, energy-efficient equipment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:

  • Click the "Get Started"  to reach 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

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

 

 

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