This week, the Port of Greater Cincinnati Development Authority approved a partnership with the Greater Cincinnati Energy Alliance that has the potential to "unleash more than $100 million in energy-related real estate investments in Hamilton County over the next five years," WCPO.com reports. The new partnership, which already has "a pipeline of 20 projects involving 570,000 square feet of commercial real estate where $50 million in energy upgrades are being reviewed for potential financing," will be "the region's main vehicle" for Property Assessed Clean Energy (PACE) financing. PACE bonds are a financial tool used by property owners to fund energy efficiency improvements on their properties.
Bricker & Eckler LLP is Ohio's leader in PACE law. Bricker attorneys assisted in drafting Ohio's PACE law and served as bond counsel for Ohio’s first three issues of PACE bonds. Bricker attorneys work with private property owners and governmental entities to create the special improvement district necessary to implement PACE financing, levy assessments and structure the financing arrangements necessary to fund the improvements. Please contact Bricker & Eckler attorney J. Caleb Bell at (614) 227-2300 or jbell@bricker.com with questions.
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Port of Greater Cincinnati Development Authority and the Greater Cincinnati Energy Alliance partner to promote PACE financing
