Upcoming Meetings

A meeting of the Legislative Affairs and Government Operations Committee will be held on Tuesday, July 7, at 9 am

A meeting of the Public Health and Safety Committee will be held on Tuesday, July 7, at 10:30 am

Board of Commissioners

248-858-0100

248-858-1572

boc@oakgov.com

1200 North Telegraph Road
Pontiac, MI 48341

Monday - Friday
8:30am - 5:00pm

Oakland County PACE Program

Oakland County is a part of Lean & Green Michigan^TM, one of America's first state-wide Property Assessed Clean Energy (PACE) initiatives - and Michigan's marketplace for energy efficiency and renewable energy financing. The Lean & Green MichiganTM PACE Plan provides economic development tools to entice reinvestment and redevelopment in our county while helping to green the community.

Public Act 270 of 2010 ("Act 270") authorizes local units of government to adopt PACE programs to promote the installation of energy efficiency improvements and renewable energy systems by owners of commercial or industrial property within a district designated by the local government. Act 270 provides for repayment to local governments through a voluntary property assessment. The property assessment remains with the property and has the same priority as other property tax and assessment liens in the event of foreclosure.

Questions? Email Lean & Green Michigan^TM at info@leanandgreenmi.com. For more information, visit the Advantage Oakland PACE Financing website.

Long-term financing up to 25 years or the useful life of the project
No upfront cost - 100% financing
Immediate positive cash flow
Runs with the land, transferring to subsequent owner upon sale of the property
Solves split incentive problem - payments can be passed easily to tenants
Fixed interest rate (negotiated on each deal)

More information from Oakland County Economic Development & Community Affairs available here.

Whether a project starts with a "Property Owner" or a "Property Owner + PACE Contractor" or a "Property Owner + PACE Lender" does not really matter. Before any project can be finalized, all four (4) parties will be required: