Solon City Council approves request to join ESID to allow PACE financing

Businesses in Solon will now be able to seek funding for energy efficiency improvements through Property Assessed Clean Energy (PACE) financing, Cleveland.com reports. Solon City Council signed off on a request to join the Northeast Ohio Advanced Energy District, the closest Energy Special Improvement District (ESID), of which Solon neighbor Bedford Heights is a member. This means Solon meets the adjacency requirement to join, and First Suburbs Consortium would handle all applications for Solon businesses. City Economic Development Manager Peggy Weil Dorfman brought the request to join the ESID to City Council after a Solon company inquired about making $100,000 in building improvements that would qualify for PACE financing. Bricker & Eckler LLP provided information to the City Council about PACE financing and PACE projects in the region such as the Great Lakes Mall in Mentor. For more, read the full article.

Energy Efficiency, Project Finance