The Energy and Sustainable Development Committee of the 495/MetroWest Partnership will host representatives from MassDevelopment to present on the Property Assessed Clean Energy (PACE) program. PACE is a new mechanism to finance energy improvements, such as energy-efficiency projects, renewables, and gas line extensions, on commercial and industrial properties in Massachusetts. To finance improvements, a property owner agrees to a betterment assessment on their property, which repays the financing. This approach enables owners to undertake more comprehensive energy upgrades with longer payback periods of up to 20 years. At property sale, the lien stays with the property and is transferred to subsequent property owners. Properties eligible for financing through PACE include commercial buildings, industrial buildings, and multi-family buildings with five or more units.
Individual municipalities may opt into PACE one time by a majority vote of the city or town council or the board of selectmen, as appropriate.
For more information on the PACE program, visit: https://www.massdevelopment.com/pace
This event is open to all interested persons with advance registration. Questions regarding this event may be directed to 495/MetroWest Partnership Executive Director Jason Palitsch at Jason@495Partnership.org.