Kirksville to expand PACE

The City of Kirksville adopts an ordinance to the expand the PACE– Property Assessed Clean Energy, program.

PACE a financing tool that allows property owners to apply to the Missouri Clean Energy District (MoCED) to borrow money for energy efficient and renewable energy projects. Projects are paid back through a special assessment to be collected through the property owner’s property tax for a period of up to twenty years. The key to the program is that the project must generate sufficient energy savings to guarantee a cost savings sufficient enough to pay for the project over the set period of time. The MoCED voted to add residential properties to the list of program participants. The program was previously available to commercial properties only. The City of Kirksville is one of a small group of cities that has adopted this ordinance to allow this program for residential properties.