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GCPACE Benefits

What is OHIO PACE?

Benefits of PACE

Benefits

How PACE works

How it Works

How to Apply

How to Apply

What is OHIO PACE?

OHIO PACE financing is an economic development tool designed to assist commercial and industrial building owners to access affordable, long-term financing for energy improvements to their buildings.

PACE allows building owners to finance their energy improvements through a voluntary special assessment added to the property’s tax bill. The repayment obligation transfers automatically to the next owner if the property is sold. Capital is secured by a priority lien on the property, so long-term debt capital can be raised from the private sector.

Benefits: Empowering Building Owners and Managers

PACE promotes economic development in the commercial, industrial, and nonprofit sector by providing financing with:

  • 1

    No Down Payment

  • 2

    No Personal Guarantee

  • 3

    Fixed Rate/Fixed Payment

  • 4

    15-25 Year Term

  • 5

    Triple Net Lease Pass-through

  • 6

    Off Balance Sheet Treatment

Benefits of PACE

See why Neyer Properties uses PACE financing.

View the Video

How OHIO PACE Works

PACE uses the same kind of land‐secured financing districts that cities and towns have used for over 100 years to pay for improvements in the public interest.

Special Improvement Districts or SIDs, have helped communities finance everything from sidewalks to hospitals. As a result of legislation passed by the State of Ohio in 2010, building owners seeking to make energy efficiency and renewable energy improvements can now use this financing model through the creation of an Energy SID.

PACE programs are implemented locally and are entirely voluntary. Most PACE programs will share the following basic features:

  • Local governments establish a PACE special assessment district.
  • Property owners voluntarily choose to participate; those who choose not to participate see no change to their property assessments.
  • Participants agree to accept a property assessment for 15 to 30 years.
  • An experienced contractor assesses desired improvements, validating energy savings.
  • Debt capital is raised, often by the sale of bonds through a local financing authority, secured by a senior lien on the property, and serviced through assessment payments made from the participating property owner.
How PACE works

How to Apply

Interested property owners should complete the OHIO PACE Initial Eligibility Form. It can be completed online or downloaded and returned by email.

To discuss a potential project or to ask questions regarding OHIO PACE, contact Chris Jones, OHIO PACE Program Director, at 513-621-4232 x 121.

Chris Jones

Chris Jones

OHIO PACE Program Director

OHIO PACE News