The Chesterfield City Council voted at their January 21, 2015 meeting to approve an ordinance to join the Missouri Clean Energy District. The Property Assessed Clean Energy Act (PACE) was established by the State Legislature in 2010 to promote the use of clean, renewable energy and supports improvements to commercial properties to make them more energy efficient. Owners of qualifying properties can access special funding for these improvements, allowing for financing up to 20 years through the District, rather than using conventional lending.
The District’s purpose is to provide sustainable capital for qualifying energy efficiency projects in communities across the state of Missouri. When municipalities join together, they create a broad base of demand for capital and therefore an opportunity for economies of scale resulting in a reduced cost of borrowing for property owners. One of the most attractive aspects of the program to members is cooperation among communities which becomes a gateway to the lowest possible cost in terms of interest rates available. Read more.