ANN ARBOR — The Energy Alliance Group of Michigan will offer a workshop on Michigan’s Property Assessed Clean Energy (PACE) program in Grand Rapids on Wednesday, Sept. 9.
The program runs from 3 to 6 p.m. and will be held at the Grand Rapids Community College Wisner-Bottrall Applied Technology Center, 143 Bostwick Ave. NE, Grand Rapids.
The meeting begins with registration at 3 p.m., continues with a panel discussion and question-and-answer session from 3:30 to 5 p.m., and concludes with a networking reception from 5 to 6 p.m. Refreshments will be provided.
The panel will be moderated by Scott Ringlein, CEO and founder of The Energy Alliance Group of Michigan. Panelists include Andy Levin, president of the Lean and Green Michigan PACE finance district; Justin Palm, president of Madison Heights-based LED lighting manufacturer Lumerica; and Curt Monhart, vice president of sales and marketing at The Energy Alliance Group of Michigan.
Attendees will learn how to use Michigan’s PACE program to finance building energy efficiency improvements. Other tax credits, incentives and utility choice programs will also be disucssed, as well as other recent advances in energy efficiency technologies.
To register for this free event, visit this link.
Under PACE financing law, counties, cities and townships may form a PACE district that allows a property owner to use the property tax mechanism to finance energy improvements. The property owner voluntarily takes on a Special Assessment, which it pays off over as long as 20 years, as part of its property tax bill.
Since the PACE loan is a special assessment obligation, it is senior to any mortgage – and hence very secure for the lender. (Because of this, if the property owner has a preexisting mortgage, he or she must get the mortgage bank’s consent.) Also, up to 100 percent of the project’s cost can be covered under a PACE special assessment. And the PACE special assessment “runs with the land” – the owner can sell the property and the new owner simply picks up the payments (and energy savings), just as it begins to pay property tax.
More about PACE at http://leanandgreenmi.com/howpaceworks.htm.