SOUTHFIELD — Southfield-based Levin Energy Partners have added another county to the list offering Property Assessed Clean Energy (PACE) financing, and have scheduled a contractor training seminar for June 23 in Kalamazoo.
Calhoun County and the city of Ferndale have joined the list of communities offering PACE financing in their jurisdictions.
PACE financing allows a property owner to treat a loan for energy efficiency improvements as a tax obligation, making it senior to any other financing — and hence, very secure for the lender. (Because of this, if the property owner already has a mortgage, they must get the mortgage holder’s consent.) Because of its security and senior position, PACE loans are offered at lower interest rates and with longer payback periods.
The program is limited to commercial and industrial buildings with at least 10 years of useful life left.
With the latest communities coming on board, PACE financing is now available to 49 percent of Michigan’s population. Other counties participating are Bay, Eaton, Genesee, Grand Traverse, Huron, Ingham, Kalamazoo, Macomb, Montcalm, Saginaw, Washtenaw and Wayne. Also participating are the cities of Pleasant Ridge, Rochester Hills, Royal Oak and Southfield.
As for the training, it will take place Tuesday, June 23 at Kalamazoo Valley Community College’s Groves Center, 7107 Elm Valley Drive. The training runs from 8 a.m. to noon. Attendees will receive four hours of training, a manual with all the information needed to use Lean & Green Michigan PACE financing, a USB drive with electronic copies of the training materials, breakfast, and an overview of Michigan Saves, Lean & Green Michigan’s contractor program partner. The cost is $150 per person.
Companies that complete the training and registration are listed on the Lean & Green Michigan contractor portal, where property owners go to find qualified partners to undertake their PACE projects.
Register at http://leanandgreenmi.com/seminar_signup.php.