ESID will allow $30M Traditions of Lebanon facility to use PACE financing

Lebanon City Council and the Warren County Port Authority established an energy special improvement district (ESID) that will allow a retirement community developer to use Property Assessed Clean Energy (PACE) financing, the Journal-News reports. Leo Brown Group is expected to use nearly $7.9 million of PACE financing through Petros PACE Finance Trust to fund construction of the Traditions of Lebanon 170,000-square-foot senior living community, according to the article. Energy savings “are anticipated from HVAC improvements, LED lighting, energy-efficient windows and doors and the ‘building envelope.’” For more, read the full article.

Economic Development, Energy Efficiency, Project Finance, State Updates