Committee approves joining Missouri Clean Energy District to expand commercial C-PACE financing options

The St. Louis City Housing, Urban Development and Zoning Committee voted to advance board bill 80, authorizing the city to join the Missouri Clean Energy District (MCED) and thereby provide an additional administrator for commercial property assessed clean energy (C-PACE) financing.

Sponsor Charmaine Clark Hubbard, identified in committee as the bill author, said the ordinance would expand options for property owners, developers and lenders to access long-term financing for energy efficiency and renewable energy improvements. “It does not spend a single taxpayer dollar. It does not replace or remove any existing city program,” Clark Hubbard said, adding MCED is an affiliate of the Missouri Green Bank and already partners with the city on federal clean energy grant programs.

Marty McCabe, vice president of relationship development for Bank of Springfield (BOS Bank), testified in favor of joining MCED and described the district’s experience as “predictable, professional, and timely.” McCabe said MCED-administered C-PACE financing offers long-term, fixed-rate funding that can strengthen project economics and that allowing multiple qualified administrators would reduce friction and encourage participation by lenders and developers.

Committee members asked clarifying questions about how the district would operate in the city and why the change was being proposed now despite the program having existed since 2011. The sponsor said the ordinance opens an additional pathway so local developers and owners have more choices and potential competition among administrators, which can lower costs and accelerate projects.

The committee also acknowledged receipt of three written pieces of testimony in support of the measure. The sponsor asked for a do-pass recommendation; the motion to advance the bill was moved by Alderman Aldridge and seconded by Alderman Keys. The roll call recorded six aye votes and the chair announced the bill passed out of committee.

Next steps: the ordinance proceeds to the full Board of Aldermen for perfection and final action. City staff said joining MCED is voluntary for property owners and does not obligate the city to provide funding.

Ending note: supporters framed the move as a no-cost way to expand access to capital for energy upgrades in St. Louis commercial and multi-family buildings; the committee advanced the bill unanimously.