Bobby Bruno, the city project manager, told the committee the City is considering PACE (Property Assessed Clean Energy) financing for the hotel portion of the Erieview Tower redevelopment, a financing tool permitted under Ohio law that attaches repayment to the property tax bill rather than to a traditional bank note.

Bruno identified the building owner as Elias Kasuf and said the PACE loan would be provided through Greenworks Lending LLC. He said the package would be "up to 43,881,864 financing over 28 years" and that the loan would be repaid via a special assessment on the property, with the lending term expected to end in 2055. Bruno said the financing would cover energy and resilience measures such as HVAC controls, building envelope improvements, water heating and lighting upgrades designed to exceed normal energy standards.

Committee members sought clarification on which floors of the Erieview Tower would be part of the hotel component; Bruno corrected an earlier reference and said the hotel would occupy Floors 4 through 12 and include restaurant and bar amenities on other levels. Rich Morehouse, representing the development team, said the hotel was placed on lower floors because hotel occupants are typically more transient while longer-term uses (office tenants or apartments) occupying upper floors capture view premiums.

The item was presented as an assessment approved by the Advanced Energy District prior to the committee hearing. An amendment to the implementing ordinance was proposed and adopted on the floor; chair announced the ordinance as amended was approved by the committee and will proceed in the legislative process.

Next steps: the ordinance as amended will proceed to the next committee (finance) for further review and formal adoption steps.