Rochester Hills businesses could soon have a unique financing opportunity if City Council votes to adopt an initiative that would allow them to earn savings through energy improvements.
Residents will have an opportunity to voice opinions on the proposed Property Assessed Clean Energy (PACE) program at the council’s next scheduled meeting Monday night. Under the program, if council adopts the initiative, business people can secure low-interest, long-term loans to finance energy improvements or renewable energy systems. Andy Levin of Levin Energy Partners, which would facilitate enacting the program, said it’s much different from a typical bank loan. “Businesses (can) voluntarily use the property tax mechanism to finance their energy improvement,” Levin said. Read full story.