Provides access to financing for residential and commercial property energy efficiency and renewable energy projects through Property Assessed Clean Energy ("PACE") programs.
The Clean Energy Development Board of the City of St. Louis is a political subdivision which has been authorized by the St. Louis Board of Aldermen and the Missouri legislature to provide access to financing for residential and commercial property energy efficiency and renewable energy projects through Property Assessed Clean Energy ("PACE") programs. The Set the PACE St. Louis program was developed in 2012 by the City of St. Louis with Energy Efficiency and Conservation Block Grant funding from the U. S. Department of Energy. After passing an Ordinance and creating the Clean Energy Development Board, the City's Office of Sustainability and St. Louis Development Corporation launched the program in 2013 as an innovative financing tool designed to support sustainability projects on building in the City. (See, e.g., pages 169 and 188 of the City of St. Louis Sustainability Plan.
PACE allows private property owners to finance energy efficiency and renewable energy improvements on their homes and businesses, and to repay the project costs over a period of up to 20 years through an additional assessment on their property tax bill, rather than bearing the cost up front. Projects financed through PACE are required to save money (economic benefits outweigh costs), and energy audits may be included in the cost of the program. Upon sale of the property, any remaining tax liability transfers and energy savings are passed along to the next owner. For more information about the City's Set The PACE St. Louis [www.setthepacestlouis.com] Program and the Clean Energy Development Board of the City of St. Louis, please contact Peter Phillips in Major Projects at St. Louis Development Corporation.
Meetings will be held in the SLDC Board Room of St. Louis Development Corporation, 1520 Market Street, Suite 2000.
Clean Energy Development Board
1520 Market St
Saint Louis, MO 63103