Frederick County Executive Jan Gardner today kicked-off an innovative program to help commercial businesses that want to save money by saving energy. Property Assessed Clean Energy, or PACE, allows commercial properties to take out private loans for up to 100 percent of up-front capital costs that may be needed to make energy-saving upgrades to buildings. The loans are repaid through a long-term surcharge on the property tax bill that can transfer with the sale of the property. Examples of qualifying projects include water conservation measures, installation of renewable energy and reductions to energy consumption.
“This is an excellent program to help Frederick County businesses that want to save green by going green,” said Executive Gardner. “The program creates opportunities for other small businesses, such as the contractor making the high-tech improvements, the private lender and the private loan servicer. PACE is a smart tool to help Frederick County build a sustainable economy and support a growing technology industry.”
Please see the attached press release for additional information, visitwww.FrederickCountyMD.gov/PACE or watch the public information briefing.