Yes, Absolutely. The Preserve at the Aldersgate, a 48-unit luxury apartment complex is the first project in the county to use a PACE financing option that pays 100 percent of the upfront costs of energy-saving upgrades — an option that lets the capital be repaid over 20 years term as an addition to property tax bills. Energy savings over the payoff period are calculated to cover the cost.
Pulaski commercial PACE provided financing of $653,000 for HVAC, LED Lighting. Window and Roof upgrade. Below is the project highlights:
- Total Project Scope: $6.6M
- Total PACE Financing: $ 653,212 (approx. 10% of total project cost)
- Financing Term: 20 years
- Annual PACE Assessment: $61,747
- Energy Savings: $71,124 per year (=846,714 kWh )
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