Board Approves PACE Establishment
03/04/2019- It’s now easier for local business owners to get loans for green energy upgrades. The Marinette County Board of Supervisors has approved a series of recommendations establishing the Property Assessed Clean Energy Financing program in the county, joining 34 others in the state who have already done so. PACE allows commercial property owners to obtain loans for projects tied to energy or water conservation and then repay those loans through future utility savings. The associated costs to take part are minimal: the county is responsible for paying the per diem expense for the county individual appointed to the state PACE board and, should participant default on their PACE loan, the county would need to step in and initiate the foreclosure process. Representatives with the Wisconsin Counties Association say by revitalizing the building stock through PACE, participating regions can in turn lower the cost of doing business and boost the bottom line of local enterprises.