PACE Summit, set for April 15, postponed

SOUTHFIELD—Due to ongoing concerns about the coronavirus outbreak the Southeast Michigan PACE Summit that had been scheduled for April 15 in Ann Arbor will be postponed until further notice.

Event planners said that as the situation unfolds, stakeholders will be notified of the rescheduled date.

The event will include presentations on Southeast-Michigan based PACE projects, panel discussions on PACE financing and the economic benefits of green buildings, as well as updates on local sustainability efforts.

Under PACE financing, energy efficiency projects can be financed through a special property tax assessment. Since the loan has the security of a tax bill, banks are more willing to extend long-term loans for energy efficiency project — up to 20 years, vs. a standard energy efficiency loan of 3 to 5 years. That allows the financing of energy efficiency projects with longer paybacks. And the debt passes on to a new owner in the event of the sale of the property, just like a tax assessment.

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