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Council approves PACE special assessment for 5520 Monroe St. boiler upgrades
Summary
Sylvania City Council unanimously approved a set of emergency measures enabling a PACE (Property Assessed Clean Energy) assessment for energy-efficiency work at 5520 Monroe Street, authorizing the Northwest Ohio Advanced Energy Improvement District to levy the assessment on the property tax bill.
Sylvania City Council on Feb. 17 approved measures to place a special assessment on the 5520 Monroe Street property to repay a PACE loan used for recent boiler replacements.
Dana Clark, case administrator for the Toledo Lucas County Port Authority, told the council the building at 5520 Monroe — which houses Premier Bank and Venture Visionary Partners — "has replaced the boilers and updated it. They were just due to be replaced," and that the lender will use a special assessment on the property tax bill to collect repayments.
The council first passed Resolution No. 4-2025 finding the project a public necessity, then adopted Ordinance No. 27-2025 approving the improvements in cooperation with the Northwest Ohio Advanced Energy Improvement District, and finally adopted Ordinance No. 28-2025 to levy the assessment. The measures were adopted as emergency legislation by voice vote; members signaled approval with "aye" and the mayor declared the motions carried.
PACE financing, Clark said, offers below-market, long-term fixed-rate financing for energy-efficiency improvements; the Port Authority and the Northwest Ohio Advanced Energy Improvement District (managed by the Toledo Port Authority) facilitate the program and the assessment appears on the property owner’s real-estate tax bill. Clark told council the work to replace the boilers was already complete.
No dollar amount for the loan or the assessment was presented to council during the meeting. Clark said additional implementing legislation would formalize the levy on the tax schedule and staff will bring those documents forward in follow-up paperwork.
The measures require coordination with Lucas County to place the assessment on the tax roll; no separate roll-call tally was read into the record at the meeting.
