New PACE agreements approve $14M in financing for St. Clair Inn, Hotel Harrington
The St. Clair County Board recently approved new Property Assessed Clean Energy (PACE) agreements for more than $3.1 million and $11 million for the St. Clair Inn and Hotel Harrington projects, respectively, the Times Herald reports. Plans for the Harrington include ceiling insulation, LED lighting, solar features, and high-efficiency heating and cooling, while the St. Clair Inn property’s plan includes “$2.9 million in heating and cooling system improvements, as well as $2.7 million in electrical and $2.2 million in plumbing,” according to the article. The county adopted its PACE program three years ago, allowing developers to repay private loans over time through an assessment against the property.
