Oakland County PACE Program

Oakland County PACE Program

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 Overview of PACE

​Oakland County is a part of Lean & Green MichiganTM, one of America's first state-wide Property Assessed Clean Energy (PACE) initiatives - and Michigan's marketplace for energy efficiency and renewable energy financing. The partnership with Lean & Green Michigan is a positive step for Oakland County. The Lean & Green MichiganTM PACE Plan will bring new economic development tools to entice reinvestment and redevelopment in our county while helping to green the community.

Public Act 270 of 2010 ("Act 270") authorizes local units of government to adopt PACE programs to promote the installation of energy efficiency improvements and renewable energy systems by owners of commercial or industrial property within a district designated by the local government. Act 270 provides for repayment to local governments through a voluntary property assessment. The property assessment remains with the property and has the same priority as other property tax and assessment liens in the event of foreclosure.

 Benefits of PACE

  • ​Long-term financing up to 25 years or the useful life of the project
  • No upfront cost - 100% financing
  • Immediate positive cash flow
  • Runs with the land, transferring to subsequent owner upon sale of the property
  • Solves split incentive problem - payments can be passed easily to tenants
  • Fixed interest rate (negotiated on each deal)

More information from Oakland County Economic Development & Community Affairs available here.


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Questions?
Email Lean & Green MichiganTM at info@levinenergypartners.com
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