PACE energy improvement presentation to IFMA

Attorneys Bill Griffith and Jake Steen, on March 4, delivered a presentation to the local chapter of the International Facility Management Association describing the benefits of using PACE as a financing tool for energy-saving building improvements. PACE, which stands for property assessed clean energy, was first authorized in Minnesota in 2010 through legislation drafted, in part, by Larkin Hoffman attorneys. This tool works like a special assessment against commercial property and provides either a credit enhancement or direct financing for energy improvements which are then reimbursed by savings over the life of the improvement.