PACE Wisconsin

Property owners of the three story, multi-tenant office building at 700 Pilgrim Way in the Village of Ashwaubenon, Wisconsin used $1,129,904 in C-PACE financing for energy and water efficiency projects in the redevelopment of the former Shopko Optical Building. PACE Equity, LLC financed the improvements that are estimated to save the property owner $2,781,685 in utility savings over the life of the project.

PACE Wisconsin celebrates its 100th C-PACE finance project with the latest commercial property assessed clean energy (C-PACE) closing. The Reserve Student Apartments, located close to UW Stevens Point, Wisconsin used $625,000 to refinance energy efficiency and water efficiency projects.

The C-PACE lender, One Community Bank, refinanced the building envelope—roof, wall and window upgrades, high efficiency HVAC and low flow fixtures. The updates are 15% above Wisconsin energy code and the projected environmental benefit from the project is a reduction of 45.76 metric tons of CO2e. More sustainable buildings, like this property, minimize energy and water consumption and are a key part of sustainable urban development that seeks to combat climate change.

“This was another exciting opportunity for One Community Bank to partner in the PACE program while providing financing for a great developer on a large student housing project. This loan was unique since it was already complete and allowed the client to retroactively utilize the lookback period allowed by program,” noted Marc McMerty, Vice President of Commercial Banking, One Community Bank.

Dan Carey, Chief Commercial Officer at One Community Bank shared, "At One Community Bank, we were among the first to jump on board with the PACE Wisconsin Program. We’re proud to have helped 28 commercial property owners across Wisconsin secure C-PACE loans. Today, hitting the 100th milestone feels like a celebration of our commitment to building stronger, energy efficient communities together."

One Community Bank is one of twenty-six participating C-PACE capital providers in the program. Collectively they have financed one hundred loans, totaling over $188.3 million in green financing. C-PACE is also a development tool, an economic driver for communities—that gives commercial property owners an alternative financing mechanism for energy efficiency, water efficiency, resiliency, and renewable energy measures.
The PACE Wisconsin Program impacts both environmental and economic areas. The projected environmental impact created by the C-PACE Program to date is a reduction of 28,584 metric tons of CO2e per year, and 62,373,569 gallons of water per year saved. C-PACE is currently available in fifty-three counties throughout the state. One-hundred C-PACE projects have been funded to date in thirty-two different counties. Keith Langenhahn, Field Services Representative for the Wisconsin Counties Association shared, “The PACE program empowers building owners to save energy and money, communities to create new jobs, and local economies to flourish—all without any taxpayer assistance.”

PACE Wisconsin is administered by Slipstream, a mission-based nonprofit, headquartered in Madison, Wisconsin. Slipstream’s mission is focusing on accelerating climate solutions for everyone and was one of the core stakeholders that brought C-PACE to Wisconsin—along with the Wisconsin Counties Association, League of Wisconsin Municipalities, the Wisconsin State Energy Office, and Wisconsin Green Tier Legacy Communities (GTLC). PACE Wisconsin helps commercial property owners to make Wisconsin’s built environment and communities more environmentally sustainable, while providing access to long-term, fixed rate capital for energy efficiency, renewable energy, and resiliency projects. Learn more at www.pacewi.org .

Congratulations to Green County, Wisconsin on adopting C-PACE financing. There are 53 participating counties in the state of Wisconsin that offer their commercial property owners’ access to C-PACE financing—long-term, fixed-rate financing for energy and water efficiency, renewable energy and resiliency projects on their properties. The statewide program empowers building owners to save energy and money, communities to create new jobs, and local economies to flourish—without any taxpayer assistance. https://www.pacewi.org/participating-communities.html

PACE Wisconsin welcomes and congratulates Clark County Wisconsin, the newest county to pass a C-PACE Resolution and adopt an ordinance. C-PACE financing is now available to commercial property owners throughout the county.