The Charles County Board of Commissioners recently passed an ordinance enabling property and business owners in the county to take advantage of Maryland’s Commercial Property Assessed Clean Energy (MD-PACE) program. MD-PACE is an innovative and affordable way for Charles County’s commercial, industrial, and nonprofit building owners to pay for energy improvements.
MD-PACE programs are active in over 15 states nationally, contributed to the creation of 6,700 jobs and have led to nearly a half a billion dollars of investment into commercial buildings.
“After working closely with this project, I am pleased our board passed the ordinance for local entrepreneurs and building owners to participate in the Property Assessed Clean Energy program,” said Commissioner Ken Robinson (District 1). “The program will provide a great opportunity to further advance our county’s energy efficiency and economic growth.”
Through MD-PACE, commercial, industrial, and nonprofit properties use private capital to finance 100 percent of efficiency and renewable energy upgrades which are then repaid as a long-term surcharge on the property. This kind of voluntary surcharge added to a property’s tax bill is similar to a surcharge for a sewer or water line; this approach makes energy upgrades accessible, allowing owners to reduce energy and operational costs and improve their buildings’ overall value.
“The PACE program creates opportunity for everyone involved. Commercial property owners now have a cost efficient tool for adding clean energy elements to buildings; clean energy contractors have a tool for growing their businesses and creating jobs; and our community benefits from a growing emphasis on clean and renewable energy," said Deputy Director of Economic Development Marcia Keeth.
The MD-PACE Program is a partnership between the Maryland Clean Energy Center (MCEC), the statewide sponsor of the program, and PACE Financing Servicing, which administers the program.
“MCEC applauds the Charles County Commissioners and staff for taking proactive steps to provide access to capital for commercial property owners,” said MCEC Executive Director Kathy Magruder.
“We’re thrilled to be working with Charles County,” said Gerard Neely, manager of MD-PACE programs for PACE Financing Servicing. “By joining the MD-PACE program, Charles County has become a leader in the tri-county region in allowing its business community to access capital for energy savings measures and improvements."
The Economic Development Department will be hosting a series of upcoming informational sessions targeted to commercial property owners, contractors, and capital providers. For more information on how to get involved with MD-PACE, contact Marcia Keeth at KeethM@MeetCharlesCounty.com. Citizens with special needs may contact the Maryland Relay Service at 711, or Relay Service TDD: 800-735-2258.