Energy Equity Funding LLC
Tuesday, September 26, 2017
Set the PACE St. Louis Closes $10mm PACE Clean-energy Project in Grand Center Arts District
Started in the summer of 2013, Set the PACE St. Louis is a part of the City's award-winning sustainability plan.
September 22, 2017 | 5 min reading time
This week, the City of St. Louis closed one of the largest Property Assessed Clean Energy (PACE) projects nationwide with the recent financing of the Missouri Theatre building at 634 N. Grand in the Grand Center Arts District in Midtown St. Louis. Set the PACE St. Louis, the City’s clean-energy financing program, will help the developer, Lawrence Group, install comprehensive energy efficiency measures as part of the overall $65 million mixed-use development. The project will include the 146-room boutique Angad Arts Hotel, a full-service restaurant, two 3,000-square-foot banquet rooms and separate meeting facilities, and a 150-vehicle parking lot.
“We are excited for Set the PACE St. Louis to play a significant role in the development and energy savings of an important and iconic structure in the Grand Center Arts District,” said Otis Williams, secretary of the City of St. Louis Clean Energy Development Board (CEDB), which provides oversight for the program. “This project will achieve millions in savings and create more than 1,200 well-paid, local construction jobs in addition to creating 170 ongoing jobs in the hospitality sector."
The PACE-financed portion of the Missouri Theatre redevelopment is expected to achieve $659,527 in total cost savings in the first year through savings on energy and maintenance and operations expenses. Energy improvements include: insulation, windows, LED lighting, high efficiency heating and cooling, and building envelope measures. Total savings over the entire 20-year term of financing is expected to be $10,924,304, while eliminating an estimated 66,000 tons of carbon emissions.
“The redevelopment of the Missouri Theatre building has been in the works for some time and PACE-financing is a critical piece of the puzzle,” said Steve Smith, CEO of Lawrence Group, the project’s lead developer. “Because PACE-financing leverages 20 years of future savings and makes this amount available today, it acts like a capstone for the project’s entire capital stack and completes the financial picture. We are happy to utilize this excellent tool that the City provides and are considering its use on future projects as well.”
The 12-story Missouri Theatre Building was acquired by an affiliated entity of Lawrence Group in 2013 for $3.2 million from Grand Center, Inc., and represents the last historic structure in the Grand Center to undergo redevelopment. The building was designed by DeRosa & Pereira and was completed in 1920. Over the years, the property has had several uses including offices for the City of St. Louis Health Department, and the 3,600 seat Missouri Theatre from 1920 to 1957. The theatre portion of the building was demolished to make way for a parking lot in 1959. UK-based Caparo Group is a co-investor on the project.
“We cannot overstate how important this project is for the Grand Center Arts District,” said Karin Hagaman, President & CEO of the Grand Center, Inc. “Not only will the Missouri Theatre project fill a ‘gap’ by returning to life the final vacant, historic building on Grand, it contributes several key elements that the district needs now to continue on its path of growth: a new hotel within a block of Powell Symphony Hall, the Fabulous Fox Theater, and many other wonderful district destinations; a growing base of daytime employees at the new Bull Moose headquarters office; and new restaurant and other commercial uses, both along the sidewalk and on the beautiful rooftop. The Missouri Theatre Building is an essential piece of the Grand Center puzzle and, once in place, will help to tie together all of the incredible assets of our region’s premier arts district."
“This program has been expressly designed to advance the triple-bottom line aspects of the City of St. Louis Sustainability Plan,” said Catherine Werner, Sustainability Director for the City. “Set the PACE St. Louis removes common barriers associated with performing energy efficiency upgrades on properties. It’s a great program, and we are leveraging its strengths to go beyond environmental and economic benefits, and develop an innovative inclusion initiative for women and minority-owned businesses. MOKAN, a Set the PACE St. Louis partner launched its 7th Pre-Apprenticeship training class for minority and female workers in August 2017. This program will work with Set the PACE to further local minority and female workforce opportunities in the clean-energy sector.”
“We are being careful and deliberate in implementing new policies and procedures which will ensure the highest level of consumer protection and deliver a robust tool for City property owners to successfully implement energy improvements to their properties,” said Byron DeLear, Set the PACE St. Louis’ Program Administrator. “The Missouri Theatre project is a big step forward and embodies some important City priorities concerning workforce development—not only will the project utilize labor-affiliated contractors to ensure safety, quality construction, and worker’s rights, but the City’s minority and women workforce participation objectives will also be met.”
The Clean Energy Development Board of St. Louis is a separate political subdivision of the state, created by the Board of Alderman with City Ordinance 69056, and is authorized under the Missouri Property Assessment Clean Energy Act. The program is administered by Energy Equity Funding LLC, Rockwood Management Corporation, and Ygrene Energy Fund.
For more information, please visit: www.SetThePACEStLouis.com [www.setthepacestlouis.com]
About Lawrence Group
Founded in 1983, Lawrence Group is a building design, development, and project delivery firm headquartered in St. Louis with offices in Austin, Charlotte and New York. With more than 160 employees, the firm offers services to a wide variety of clients, including hospitality, healthcare, academic, retail, civic, corporate, and housing. Please visit our website at www.thelawrencegroup.com [www.thelawrencegroup.com] or follow us on Twitter [twitter.com], Facebook [www.facebook.com], or LinkedIn [www.linkedin.com].
About Grand Center Inc.
Grand Center Inc. [www.grandcenter.org] is the developer, facilitator and connector of Grand Center Arts District, a 175-acre area in St. Louis’ midtown. Grand Center Arts District is St. Louis’ epicenter for the arts. Here, world-class talent performs, and aspiring artists hone their craft. Eclectic venues line the streets offering everything from Broadway to Black Box Theater, Bebop to Beethoven, street art to galleries and sushi to soul food. Engaging media, inviting parks, inspiring museums and welcoming hotels surround visitors of all ages. An ever-evolving cultural crossroads, Grand Center Arts District offers more to see, to hear, to taste, to learn, to experience – often in the most unexpected ways and places.
About Set the PACE St. Louis
Started in the summer of 2013, Set the PACE St. Louis is a part of the City's award-winning sustainability plan and provides innovative financing solutions, including PACE-financing, for City property owners to access affordable, long-term financing for clean-energy upgrades to their homes and buildings. PACE-financing allows building owners to finance qualifying energy efficiency and renewable energy improvements through a voluntary tax assessment. Property owners pay for the improvements over time and the repayment obligation transfers automatically to the next owner if the property is sold. Similar to a sewer tax assessment, capital provided for project funding under the PACE program is secured by a lien on the property, so low-interest capital can be raised from the private sector with no government financing or taxpayer dollars required. More information can be found at SetThePaceStLouis.com [setthepacestlouis.com].
Tuesday, March 22, 2016
Set the PACE St. Louis Helps Breathe New Life into Abandoned Buildings
Closes Financing for Two Redevelopment Conversions.

Set the PACE St. Louis, the Property Assessed Clean Energy (PACE) program for the City of St. Louis, has closed financing for two redevelopments in the Central West End and Soulard neighborhoods. A project on Olive is turning a vacant warehouse and adjoining multi-family building into a mixed-use residential and commercial development. And, an old school is undergoing a transformation to new loft apartments.
"Both projects are excellent examples of creative reuse of underutilized and vacant properties. We intend for Set the PACE St. Louis to be part of more future redevelopment projects in the City of St. Louis," said Otis Williams, Executive Director of the St. Louis Development Corporation.
As more property owners and developers become aware of how to utilize the City's energy efficiency financing tool, the economic, social, and environmental impacts will multiply. "With broad usage, Set the PACE St. Louis can help buildings become more energy and water efficient, contributing to our target of reaching 25% reduction of citywide greenhouse gas emissions by 2020," said Catherine Werner, Director of Sustainability for the City of St. Louis.
Last summer, Set the PACE ST.Louis announced the largest project in the nation among all PACE programs for 2015—a $2.4M energy efficiency retrofit on the Missouri Athletic Club. With the addition of these two latest projects which include more than $1.3M of clean energy property improvements, the program is diversifying the way this innovative financing tool can be utilized by City property owners.
"These projects concluded a year of successful Set the PACE St. Louis projects;we are pleased to help the City find more ways to offer creative energy efficiency financing," said program administrator, Byron DeLear. PACE Equity provided project development and financing for both projects and worked closely with the City's Clean Energy Development Board (CEDB) to ensure a streamlined approval process.
4534 Olive
Located in the Central West End on Olive between Euclid and Taylor, this project by Rothschild Development Ltd. will combine a vacant warehouse and an adjoining multi-family building into a mixed-use residential and commercial development totaling 33 residential units and three thousand square feet of retail. Upon completion, four additional stories will be added to the warehouse. The existing multifamily building will undergo historic renovation and will contain four of the project's 33 residential units. Associated Bank is the construction lender, Arcturis is the architectural firm, and Blackline Design &Construction is the general contractor. Completion of construction is planned for late this summer. PACE Equity is funding the $600,000+ PACE-loan over 19 years to achieve this energy efficient project. Utility savings of $1.6 million are expected, using energy efficient measures such as LED lighting, high-efficiency HVAC, and building envelope improvements.


Lafayette Loft Apartments
Located at 815 Ann Avenue in the Historic Soulard neighborhood, this project will redevelop the former Lafayette Elementary School into multifamily loft apartments. Designed by William B. Ittner, the historic Lafayette school was completed in 1907 and closed in 2004. The developer and general contractor, Advantes Group, plans to convert the classrooms into 36 loft apartments over three floors while transforming the gymnasium into covered secured parking in addition to solar-energy panels on the school building roof. Confluence Design Group is the designer for this residential conversion. Lafayette Loft Apartments is using a $600,000+ PACE-loan to generate an expected $1.6 million in utility savings over the life of the 20-year loan. Energy efficiency measures include window replacements, LED lighting, building envelope improvements, and a roof replacement. In addition to financing the PACE loan, PACE Equity will also be responsible for the project governance and energy engineering. Completion is expected in fall of 2016.


About PACE financing
PACE (Property Assessed Clean Energy) is an effective way to finance energy efficiency and renewable energy upgrades to buildings. PACE can finance things such as new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation and vegetative roofs and steam systems for many building types, including multi-family, industrial, retail and non-profit. PACE-funded projects make buildings more valuable and sustainable. PACE is voluntary and can finance up to 100% of a project's costs, and long-term payback of up to 20 years means most projects save money immediately for property owners and tenants. PACE financing can be utilized for new property developments as well as energy retrofits and rehabs. Because PACE is levied as a special tax assessment, the PACE "loan" is not considered debt, but rather is treated as an "off-balance sheet" payment obligation.
About Set the PACE St.Louis
Started in the summer of 2013, Set the PACE St. Louis is a part of Mayor Francis Slay's award-winning sustainability plan and provides innovative financing solutions, including PACE-financing, for City property owners to access affordable, long-term financing for clean energy upgrades to their buildings.
PACE-financing allows building owners to finance qualifying energy efficiency and clean energy improvements through a voluntary tax assessment. Property owners pay for the improvements over time and the repayment obligation transfers automatically to the next owner if the property is sold. Similar to a sewer tax assessment, capital provided under the PACE program is secured by a lien on the property, so low-interest capital can be raised from the private sector with no government financing required. More information can be found at SetThePacesStlouis.com [setthepacestlouis.com]
About Energy Equity Funding LLC
Energy Equity Funding LLC designs, implements, and administers clean-energy programs, including expert consulting and providing turnkey Property Assessed Clean Energy (PACE) administration and financing services. Energy Equity Funding has been the program administrator for Set the PACE St.Louis since its inception.
About PACE Equity
PACE Equity is in the business of enabling building owners and contractors to develop clean energy projects with PACE financing. PACE Equity has a unique infrastructure for what is the greatest need in the evolving PACE marketplace –securing and developing projects. The strategy at PACE Equity is to build an infrastructure that can be leveraged in local markets across the country. The company is a market leader in 12 cities across 8 states.
Wednesday, July 15, 2015
Largest project in the nation among all PACE programs for 2015, with energy savings projected at more than $200,000 per year.
Missouri Athletic Club announces $2.4M energy-efficiency retrofit with Set the PACE St. Louis
In a morning press conference, the Missouri Athletic Club announced a $2.4 million energy-efficiency retrofit of their iconic downtown St. Louis landmark building, using PACE financing through Set the PACE St. Louis.
Property improvements on the iconic landmark will include heating, ventilation and air conditioning (HVAC) upgrades, state-of-the-art energy management controls, and other high-efficiency measures which are projected to generate more than $200,000 in annual energy savings.
"The City's stock in old buildings cannot keep up with demands for energy efficiency without some major retrofits, which can be expensive," said Mayor Francis Slay (top image). "We created Set the PACE St. Louis to ease the burden and encourage savings—both financially and environmentally—for business owners to use."
"There really aren't any downsides with energy performance upgrades," said Byron DeLear (middle left) of Energy Equity Funding, program administrator for Set the PACE St. Louis. "We've had 12 successful projects, including an award-winning solar installation at Four Muddy Paws, where the property owner is now benefiting from the capital investment because the project is ultimately paying for itself."
"There are challenges in maintaining a building of this age," said MAC President Brent Kaniecki (middle right). "The PACE program has made it possible for our Club to lead on this issue by serving as a model for other local businesses to make energy-efficient upgrades of their own."
"Our downtown clubhouse was the first building west of the Mississippi to have air conditioning, and it has those original, custom-built air handlers," said Wally Smith, general manager of the MAC. "When we were made aware that we could pay for upgrading our systems with energy savings, it really was a 'no-brainer' for us. Set the PACE St. Louis fulfilled a need that's going to ensure the preservation of the City landmark for generations to come."
"We became a Set the PACE St. Louis 'Program Ambassador' because we see the PACE concept as a great way to deploy energy-savings performance services to the private sector," said Scott Hardwick, contracting solutions manager for Trane, which is providing project management and energy-efficient systems and services for the MAC.
Set the PACE St. Louis supports an "open-finance model," which allows local lenders, banks, and other funding sources to participate in project financing. A local funding source—Jefferson Bank and Trust—is providing project financing for the MAC, and as a St. Louis-based institution, has the added benefit of keeping the flow of capital within the community.
The cornerstone of the Missouri Athletic Club Downtown Clubhouse was dedicated in a ceremony in 1915 with its doors opening for business the following year. Listed on the National Register of Historic Places, the property is a rare example of a building that has never changed its primary purpose or use for 100 years.
Wednesday, February 25, 2015
Energy Equity Funding Launches in Arkansas
A2E2-Fayetteville is State's First PACE Financing Program
Kickoff Announcement, Contractor Seminar Scheduled Dec. 11, 2014
FAYETTEVILLE, AR — Nearly four years after announcing his support for an innovative energy financing concept called Property Assessed Clean Energy (PACE), Fayetteville Mayor Lioneld Jordan will become the state's first Mayor to formally launch a city-wide program on Thursday, December 11.A press conference is scheduled at 1:00 pm in the front lobby of the Fayetteville Public Library, 401 W. Mountain St. The media and public are invited to attend.The program is called Arkansas Advanced Energy Equity (A2E2) and will be administered by A2E2, LLC, which was incorporated in Arkansas earlier this year by the Arkansas Advanced Energy Association (AAEA) and Energy Equity Funding (EEF), a company that also administers Set the PACE St. Louis.Kickoff Announcement, Contractor Seminar Scheduled Dec. 11, 2014
Tuesday, April 22, 2014
Energy Equity Funding, Program Administrator for Set the PACE St. Louis, traveled to Washington D.C. to present and participate in the
Global Solutions Summit at the U.S. State Department and Atlantic Council in mid-April. Propelled by an initiative of HRH Prince Charles, the Global
Solutions Summit operating ethos is to connect global finance with innovators in
cleantech and technology deployment to mitigate rising international
environmental and demographic challenges. One sponsoring organization, the P80 Group Foundation, represents sovereign wealth and pension funds totaling more than $40 trillion dollars in assets. Energy Equity Funding CEO Byron
DeLear shared information on PACE financing and news of innovative ways to finance building performance
progress enabling more property owners to invest and upgrade their homes and businesses to higher levels of efficiency—to read a report of the gathering click here.
Wednesday, January 22, 2014
5 PACE Programs to Watch in 2014
Set the PACE St. Louis makes the list! "Move over, Connecticut and California. PACE allows investments in energy-efficiency retrofits and distributed renewable generation to be paid back through a tax that is tied to the property, which lowers the risk for both lenders and owners and can potentially open up a far larger swath of the energy efficiency market. California and Connecticut are already two of the most important states for commercial PACE because of the number and scope of their programs. California has taken a city-by-city approach, while Connecticut has employed a state-level approach. But there are other regions to watch in 2014 as legislators and regulators design unique programs and learn from pioneering states." Click here to get the whole story.
Greentech Media and PACE Now, Katherine Tweed, January 3, 2014, Thanks to Greentech Media and PACE Now for the recognition!
Wednesday, November 20, 2013
St. Louis energy savings program gets rolling
The St. Louis Post-Dispatch reports on Set the PACE St. Louis, administered by Energy Equity Funding LLC.
October 13, 2013 12:15 pm • By JEFFREY TOMICH jtomich@post-dispatch.com
Four Muddy Paws co-owners Jeff Jensen and Matt Brazelton have a mission to make their Lafayette Square pet boutique as eco-friendly as possible.
Their efforts include installing an energy-efficient air conditioning system, using recycled materials and upgrading to LED lighting. But when they looked to add a rooftop solar array, the $33,000 price tag (before incentives) had them in search of financing options.
In the end, they chose a new city-sponsored program, Set the Pace St. Louis, which launched in July to help property owners finance energy-efficiency projects and renewable energy systems.
For Four Muddy Paws, it was a perfect fit.
“We were looking at all different types of financing options and when this came up it made the most sense for us,” Jensen said.
Set the Pace St. Louis is intended to help property owners overcome high upfront costs that can take years to recoup. Those costs often serve as a barrier to energy-savings projects that can help shrink energy bills and cut carbon dioxide emissions.
In the first three months, applications totaling more than $7 million worth of work have been received, said Byron DeLear, the head of Energy Equity Funding, the company contracted by the city to run the program.
“We’ve seen great interest,” he said.
Set the Pace St. Louis can help finance a range of projects, from air sealing and weatherization to installation of high-efficiency furnaces and heat pumps to solar energy systems. Payback terms extend up to 20 years depending on the work performed.
Financing amounts range from a minimum of $2,500 to a maximum equal to 10 percent of a property’s value. Program administrators say interest rates offered are “competitive” for land-secured loans.
The St. Louis program was enabled by state law passed in 2010 that allows local governments to issue bonds to finance efficiency projects or solar panel installations. Proceeds from the bond sales are borrowed by property owners who make repayments over a period of up to 20 years through property tax assessments.
Missouri is one of 30 states that have approved Property Assessed Clean Energy, or PACE, laws.
But the St. Louis program works differently than most others across the country.
Instead of relying on the sale of bonds and repayment of loans through tax assessments, the St. Louis program uses a single lender, PNC Bank, and most borrowers pay the bank directly.
DeLear and Tom Applebaum, Energy Equity Funding’s president, said the relationship with PNC allows for more flexibility and less red tape and achieves the same objectives.
So far, more than a dozen contractors have been qualified to work on Set the Pace St. Louis projects. And, as was the case with Four Muddy Paws, the program is looking to the network of solar installers, energy auditors and other businesses to help with marketing.
While one of the obvious benefits of energy-savings projects is reduced utility bills, city officials see a public benefit, too.
The city used $95,000 of a stimulus grant to develop the outline for Set the Pace St. Louis, said Catherine Werner, St. Louis’ sustainability director. The program is overseen by a seven-member board.
The program is one part of the city’s broader sustainability plan that includes a goal of slashing greenhouse gas emissions by 25 percent by 2020 and 80 percent by 2080. Because buildings are the source of almost 80 percent of St. Louis’ greenhouse gas emissions, retrofitting older homes and offices to use less energy can play a big part in helping the city achieve its goal, Werner said.
For now, the focus of Set the Pace St. Louis is commercial building owners.
While some more traditional financing options are available for homeowners, such as energy-efficiency mortgages, PACE options are limited because of concerns among federal regulators.
Not long after Missouri’s PACE legislation was signed into law, similar programs across the nation were halted because the Federal Housing Finance Agency raised red flags.
Specifically, the FHFA, which regulates Fannie Mae and Freddie Mac, grew concerned that PACE liens were senior to mortgages, meaning they would be repaid first in the event of default.
Concerns about how the PACE loans are structured haven’t gone away.
Still, DeLear said Set the Pace St. Louis is looking at ways to open up additional financing options for homeowners.
“We are vigorously exploring different options on the residential side,” he said.
SET THE PACE ST. LOUIS
What is the purpose? The purpose of the program is to finance energy and water efficiency projects and renewable energy systems in the city of St. Louis.
Who runs it? The program is administered by Energy Equity Funding LLC, under a contract from the city. A board appointed by Mayor Francis Slay oversees the program. PNC Bank is the lender.
When did the program begin? Applications were accepted beginning on July 2.
What type projects are eligible? A wide range of efficiency and renewable energy projects can be financed with terms ranging from 10 to 20 years.
Where can I get more information? Additional information is available on the program's website, setthepacestlouis.com.
The St. Louis Post-Dispatch reports on Set the PACE St. Louis, administered by Energy Equity Funding LLC.
October 13, 2013 12:15 pm • By JEFFREY TOMICH jtomich@post-dispatch.com
Four Muddy Paws co-owners Jeff Jensen and Matt Brazelton have a mission to make their Lafayette Square pet boutique as eco-friendly as possible.
Their efforts include installing an energy-efficient air conditioning system, using recycled materials and upgrading to LED lighting. But when they looked to add a rooftop solar array, the $33,000 price tag (before incentives) had them in search of financing options.
In the end, they chose a new city-sponsored program, Set the Pace St. Louis, which launched in July to help property owners finance energy-efficiency projects and renewable energy systems.
For Four Muddy Paws, it was a perfect fit.
“We were looking at all different types of financing options and when this came up it made the most sense for us,” Jensen said.
Set the Pace St. Louis is intended to help property owners overcome high upfront costs that can take years to recoup. Those costs often serve as a barrier to energy-savings projects that can help shrink energy bills and cut carbon dioxide emissions.
In the first three months, applications totaling more than $7 million worth of work have been received, said Byron DeLear, the head of Energy Equity Funding, the company contracted by the city to run the program.
“We’ve seen great interest,” he said.
Set the Pace St. Louis can help finance a range of projects, from air sealing and weatherization to installation of high-efficiency furnaces and heat pumps to solar energy systems. Payback terms extend up to 20 years depending on the work performed.
Financing amounts range from a minimum of $2,500 to a maximum equal to 10 percent of a property’s value. Program administrators say interest rates offered are “competitive” for land-secured loans.
The St. Louis program was enabled by state law passed in 2010 that allows local governments to issue bonds to finance efficiency projects or solar panel installations. Proceeds from the bond sales are borrowed by property owners who make repayments over a period of up to 20 years through property tax assessments.
Missouri is one of 30 states that have approved Property Assessed Clean Energy, or PACE, laws.
But the St. Louis program works differently than most others across the country.
Instead of relying on the sale of bonds and repayment of loans through tax assessments, the St. Louis program uses a single lender, PNC Bank, and most borrowers pay the bank directly.
DeLear and Tom Applebaum, Energy Equity Funding’s president, said the relationship with PNC allows for more flexibility and less red tape and achieves the same objectives.
So far, more than a dozen contractors have been qualified to work on Set the Pace St. Louis projects. And, as was the case with Four Muddy Paws, the program is looking to the network of solar installers, energy auditors and other businesses to help with marketing.
While one of the obvious benefits of energy-savings projects is reduced utility bills, city officials see a public benefit, too.
The city used $95,000 of a stimulus grant to develop the outline for Set the Pace St. Louis, said Catherine Werner, St. Louis’ sustainability director. The program is overseen by a seven-member board.
The program is one part of the city’s broader sustainability plan that includes a goal of slashing greenhouse gas emissions by 25 percent by 2020 and 80 percent by 2080. Because buildings are the source of almost 80 percent of St. Louis’ greenhouse gas emissions, retrofitting older homes and offices to use less energy can play a big part in helping the city achieve its goal, Werner said.
For now, the focus of Set the Pace St. Louis is commercial building owners.
While some more traditional financing options are available for homeowners, such as energy-efficiency mortgages, PACE options are limited because of concerns among federal regulators.
Not long after Missouri’s PACE legislation was signed into law, similar programs across the nation were halted because the Federal Housing Finance Agency raised red flags.
Specifically, the FHFA, which regulates Fannie Mae and Freddie Mac, grew concerned that PACE liens were senior to mortgages, meaning they would be repaid first in the event of default.
Concerns about how the PACE loans are structured haven’t gone away.
Still, DeLear said Set the Pace St. Louis is looking at ways to open up additional financing options for homeowners.
“We are vigorously exploring different options on the residential side,” he said.
SET THE PACE ST. LOUIS
What is the purpose? The purpose of the program is to finance energy and water efficiency projects and renewable energy systems in the city of St. Louis.
Who runs it? The program is administered by Energy Equity Funding LLC, under a contract from the city. A board appointed by Mayor Francis Slay oversees the program. PNC Bank is the lender.
When did the program begin? Applications were accepted beginning on July 2.
What type projects are eligible? A wide range of efficiency and renewable energy projects can be financed with terms ranging from 10 to 20 years.
Where can I get more information? Additional information is available on the program's website, setthepacestlouis.com.
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