PACE Financing Resource Center and whitepaper

Bricker's Economic Development team recently launched a collection of online resources highlighting the opportunities, challenges and mechanics of PACE financing. In addition to an interactive map identifying all of the state's PACE programs, the resource center also features a free, downloadable white paper describing the details of using this financing tool in Ohio.  

Economic Development, Energy Efficiency, Financial Incentives, Project Finance, State Updates

S&P Global upgrades Central Ohio Bond Fund to A- investment rating

Bricker & Eckler LLP congratulates the Columbus-Franklin County Finance Authority on its Central Ohio Bond Fund achieving an A- investment rating. 

In the authority’s news release, President Jean Carter Ryan said, “[a]long with our Financial Advisor, DiPerna Advisors, we’ve been able to provide creative financing solutions through our Central Ohio Regional Bond Fund to fund impactful projects in the region. With the rating upgrade, we’ll provide our clients a lower cost of funds on new and existing development projects in Central Ohio.” For more, read the full release.

Project Finance, State Updates

Lorain approves energy special improvement district

A project to rehabilitate The Broadway Building in Lorain will be eligible for a state energy direct loan, after Council members recently approved the creation of an energy special improvement district (ESID), The Chronicle reports. Developer Ariel on Broadway will be able to obtain a PACE (Property Assessed Clean Energy) loan of $1.6 million for energy improvements, a “crucial piece of financing,” according to Port Authority Director Tom Brown. Brown and attorney Caleb Bell of Bricker & Eckler LLP explained the ESID agreement to members of Council in a Committee of the Whole session. Bell explained that the $8 million project “will not have full financing” without the PACE loan. For more, read the full article

Economic Development, Energy Efficiency, Project Finance, State Updates

PACE Workshop – September 26

We invite you to join Bricker & Eckler and NOPEC for the Property Assessed Clean Energy (PACE) Workshop on September 26 in Twinsburg, Ohio. Bricker attorneys Jason Tiemeier and Michael Katz will present on Ohio PACE financing. More information, including registration, is available here.  

Energy Efficiency, Financial Incentives, Project Finance

CDFA and PACENation events – September 25-26

On September 25-26, join CDFA and PACENation in Dublin, Ohio, for the CDFA Ohio Financing Roundtable and the PACENation Ohio Regional Conference. Bricker attorney Rob McCarthy will present on Downtown Redevelopment Districts at the CDFA Roundtable, while attorneys Caleb Bell and Colin Kalvas will present on PACE and C-PACE at the PACENation conference. More information, including ticket pricing and registration, are available here.

Economic Development, Project Finance

Bricker partners with Ohio advancement groups to host economic development trainings

Attorneys within Bricker & Eckler's economic development practice have partnered with APEG, JobsOhio and OEDA to design and host EDNow!, an upcoming economic development training program. EDNow! empowers elected and appointed community leaders, especially those within Southern and Eastern Ohio, to guide their local communities’ futures with cutting-edge economic development strategies. Buckeye Hills Regional Council, OVRDC and OMEGA have also assisted with this initiative.

The program will be offered in various Ohio locations on September 26 and October 10. For more information, including the schedule, location details and ticket information, visit the EDNow! event page.

Economic Development, Miscellaneous, Project Finance

Bexley offering seminar for residential PACE program

Bricker & Eckler LLP and the City of Bexley will present a seminar for the city’s recently created PACE (Property Assessed Clean Energy) program on September 24, 2018, from 5:00 p.m. to 7:00 p.m. at Bexley City Hall. Caleb Bell of Bricker & Eckler and Bexley Mayor Ben Kessler will explain how solar companies can participate in the program and provide financing to residential property owners. PACE financing allows property owners to finance energy efficiency or renewable energy upgrades to their properties and repay the costs through special assessments on their real property tax bills. To register, click here.

Energy Efficiency, Project Finance, Renewable Energy

PACE legislation could be first of many for Solon

Solon City Council recently gave a first reading to legislation that would allow Chagrin Valley Soap & Salve to take advantage of low-interest Property Assessed Clean Energy (PACE) financing for roof replacement, Cleveland.com reports. The company “is seeking $103,000 in financing to repair or replace 20,000 square feet of roof on its facility, including insulation and lighting for better energy efficiency,” according to the article. In order to do that, the company must petition the city to place an assessment on its property. Coucilman Bob Pelunis said the city needs to make sure “we’re getting the word out” so other companies are aware of the opportunity for PACE financing, noting “there could be a lot of individual legislation coming before council in the future” from companies who want to take advantage of the program. For more, read the full article

Energy Efficiency, Project Finance

U.S. DOE offers up to $6M in funding for wind R&D

The Wind Energy Technologies Office of the U.S. Department of Energy (DOE) has released a funding opportunity announcement (FOA) “aimed at catalyzing technical and operational solutions to reduce environmental compliance costs and environmental impacts” of wind turbines, nawindpower.com reports. The “Advanced Wind R&D to Reduce Costs and Environmental Impacts” FOA will provide up to $6 million in funding, according to the article. The FOA will provide $2 million each to three research areas: reducing costs and environmental impacts of bat curtailment at wind plants, developing “advanced components and other instrumentation for advanced bat-deterrent technologies,” and developing “offshore wind instrumentation for environmental monitoring and mitigation.” For more, read the full article.

Environmental, Federal Updates, Project Finance, Renewable Energy

NOPEC offering USDA low-interest loans for small business energy upgrades

Northeast Ohio Public Energy Council (NOPEC) is the first organization in Ohio to offer new U.S. Department of Agriculture low-interest loans designed to “help small businesses lower their energy consumption and costs through energy-efficient upgrades,” The Morning Journal reports. Owners of commercial property within a NOPEC member community are eligible to apply for financing for projects ranging from $5,000 to $100,000; the program is open to “private sector office, retail and industrial and public-sector facilities — such as government, health care, education” and apartment buildings with more than four units. Energy upgrades that qualify include HVAC, interior and exterior lighting, insulation, windows and doors, and other renewable energy projects such as solar water heating systems. For larger projects, NOPEC offers financing up to $500,000 through its Property Assessed Clean Energy, or PACE, program. For more, read the full article

Energy Efficiency, Project Finance, State Updates
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