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Port Authority outlines PACE financing for Hyde Block redevelopment in Fostoria
Summary
Dana Clark of the Toledo-Lucas County Port Authority presented the Better Buildings Northwest Ohio PACE program and said the Port will seek Fostoria's participation in an Energy Special Improvement District to provide property-assessed financing for the Hyde Block project on Main Street.
Dana Clark, PACE administrator with the Toledo-Lucas County Port Authority, told the Fostoria City Council that the Better Buildings Northwest Ohio program can provide below-market, long-term financing for energy-efficiency and revitalization projects, including the proposed Hyde Block redevelopment on Main Street.
Clark described PACE (Property Assessed Clean Energy) as a financing mechanism that repays loans through a special assessment on the property tax bill. "The program I lead is called Better Buildings Northwest Ohio that further offers PACE financing. PACE is an acronym,…
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