St. Louis MAC preps for $2.4 million PACE retrofit
The Missouri Times, July 14, 2015. Image credit: Arches
The Missouri Athletic Club is beginning a $2.4 million energy-efficiency retrofitting of its historic downtown clubhouse through the City’s “Set the PACE St. Louis” clean-energy financing program, officials announced today.
The project is expected to provide $200K in annual savings and will include improvements to the heating and cooling systems, among other improvements.
The Property Assessed Clean Energy (PACE) financing program to fund energy efficiency, renewable energy and water conservation upgrades to older buildings. The program can pay for heating and cooling systems, new lighting, solar panels, insulation, water pumps, and more for nearly any eligible commercial property. The program is levied as a special tax assessment and therefore is treated as an off-balance sheet payment, as opposed to new debt.