Commercial Property Owners:
Lower Energy Costs With No Out-Of-Pocket Expenses
Ohio PACE for Commercial Property Owners Funding Process
Initial Eligibility Form
The property owner completes a brief form to help Ohio PACE determine if the property and potential energy project is eligible for PACE financing.
Energy Project Summary Form
The property owner works with a Ohio PACE registered contractor to identify eligible energy saving improvements and quantify the energy savings. This form is submitted with the Energy Project Application.
Energy Project Application
The application form allows the property owner to provide essential financial documentation about the property and its operating status. Ohio PACE provides the information to its network of registered capital providers to obtain PACE financing terms for the owner. NOTE: The property owner must obtain written consent from the existing mortgage holder before a PACE special assessment can be added to the property’s tax bill.
The property owner agrees to financing terms and then the PACE special assessment is added to the property’s tax bill. After the Ohio PACE financial closing occurs, the funding will be available for the eligible energy saving improvements.
The registered contractor completes the installation of the authorized energy saving improvements. Ohio PACE ensures all improvements are installed to the satisfaction of the property owner.