PACE is an innovative way to help Royal Oak businesses save money, create jobs, grow the tax base and promote environmental sustainability, all at no cost to Royal Oak taxpayers.
Pleasantville, NY (PRWEB) August 21, 2014
After a unanimous vote by the Royal Oak City Commission on August 18, 2014, Royal Oak is the latest municipality to establish a Property Assessed Clean Energy (PACE) program in the State of Michigan.
PACE is an innovative way to help Royal Oak businesses save money, create jobs, grow the tax base and promote environmental sustainability, all at no cost to Royal Oak taxpayers. Under the program, commercial building owners may voluntarily assume a special assessment on their property tax bill to finance energy efficiency, water efficiency, and renewable energy projects.
“PACE is an incredible tool that has been sweeping across the country, and now it is available to businesses in Royal Oak,” said Todd Fenton, the city’s Economic Development Manager. “It promotes environmentally friendly development, saves property owners money, and creates jobs for Michigan contractors, construction workers, and manufacturers of clean energy products, all without a dime of taxpayer money.”
The program will be administered by Lean and Green Michigan, which has established a statewide marketplace for PACE financing since 2012, and currently administers the PACE Programs in Wayne, Washtenaw and Macomb Counties, as well as the Cities of Southfield and Rochester Hills, among others.
“Royal Oak has long been a special driver of economic development in the region, so we are especially excited that the city has become the 10th local government to create a PACE district by joining Lean & Green Michigan,” said Andy Levin, President of Lean and Green Michigan. “Given the city’s economic vitality, I feel that many businesses in the city will be able to take advantage of PACE financing to make clean energy upgrades."
Added Shelly Kemp, Executive Director of the Royal Oak Chamber of Commerce: “Our Board of Directors has been following the PACE Program for most of 2014. We are so thrilled that the City of Royal Oak has moved so quickly in establishing a PACE district for our amazing city. This program is going to be an incredible new addition to the business improvement programs that the city already has in place.”
For more information about Royal Oak’s PACE Program, please visit http://www.leanandgreenmi.com. You may also contact Andy Levin, the President of Lean and Green Michigan, at email@example.com, or Todd Fenton, Royal Oak’s Economic Development Manager, at toddf(at)romi(dot)gov.
PACENow is a non-profit foundation funded advocate for Property Assessed Clean Energy (PACE) financing. PACENow’s mission is to promote improved energy efficiency in buildings and use of PACE. Our strategy is to be a trusted source for information and resources to a growing coalition of PACE stakeholders that includes local governments, businesses, industry service providers, labor and trade organizations, environmental groups and private individuals nationwide