KANSAS CITY, Mo. — Kansas City leaders are hoping owners of older commercial properties will take advantage of a program that provides low-interest financing for energy upgrades.
The Property Assessed Clean Energy program recently helped the Wornall Plaza condominiums to save $34,000 annually after the property owner spent $670,000 to upgrade old boilers and lights. The savings will eventually pay for the equipment.
Dennis Murphey, the city’s chief environmental officer, said the owners can borrow 100 percent of the cost and spread the payments over 15 to 17 years.
Wornall Plaza was the first Kansas City building to use the program, the Kansas City Star reported.
Murphey said business owners can be unwilling to borrow money, but said this program makes it worth the effort. Read more.