City Of East Helena Adopts PACE Program
 | Author:
Linda Kent, MT43 News Reporter
MT43 News Correspondent |
City of East Helena Adopts PACE Program
Linda Kent
MT43 News Correspondent
East Helena’s City Council voted unanimously March 4 to create a commercial property assessed capital enhancement (PACE) program.
Signed into Montana law in 2021, the PACE program allows commercial property owners to receive long term financing for select improvement projects to business, industrial, multi-family, and agricultural properties within a PACE district’s boundaries. The loans are repaid through voluntary property tax assessments on the improved property, much like a special improvement district (SID).
During an introductory overview of the program during the council’s Feb. 4 meeting, Carolyn Jones, Montana’s C-PACE program manager, noted that the Environmental Protection Agency estimates that approximately 30 percent of energy spendings are lost through inefficiency.
“In Montana, that’s $1.2 billion in energy costs” for commercial properties each year, Jones said. “Imagine what businesses could do with an extra $300 million.”
Projects eligible for PACE funding must center on energy efficiency, select renewable energy sources, or water conservation or a combination of these. Some examples include:
● Retrofitting existing buildings for improved energy efficiency,
● New construction that exceeds measurably exceeds the standards set in place by the American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE)
● Renovation or adaptive re-use of existing un- or under-utilized buildings.
Property owners who have completed similar projects within 36 months of completion or certification of occupancy for the property may also apply for PACE funding.
