New PACE agreements approve $14M in financing for St. Clair Inn, Hotel Harrington

The St. Clair County Board recently approved new Property Assessed Clean Energy (PACE) agreements for more than $3.1 million and $11 million for the St. Clair Inn and Hotel Harrington projects, respectively, the Times Herald reports. Plans for the Harrington include ceiling insulation, LED lighting, solar features, and high-efficiency heating and cooling, while the St. Clair Inn property’s plan includes “$2.9 million in heating and cooling system improvements, as well as $2.7 million in electrical and $2.2 million in plumbing,” according to the article. The county adopted its PACE program three years ago, allowing developers to repay private loans over time through an assessment against the property. For more, read the full article.

 

Energy Efficiency, Project Finance, Renewable Energy, State Updates