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There will be an informational meeting about the PACE program at Marlboro Elementary School on Monday, Feb 21 at 6:30pm in the Junior High Room.
The meeting will be lead by Peter Adamczyk, Energy Finance and Development Manager, Vermont Energy Investment Corporation (VEIC). This meeting will be a good opportunity for voters to find out more about the program and get any questions and concerns addressed.
Property Assessed Clean Energy, or PACE, is a new program available to help Vermonters invest in energy efficiency and renewable energy projects for their homes and businesses.
PACE is a voluntary mechanism allowing individuals wishing to make eligible energy improvements to opt in to a special assessment district created by their municipality for low cost, long term loans.
PACE enables municipalities to create and secure debt program if they choose, and to secure funding to pay for energy efficiency and renewable energy projects are funded by taxable municipal bonds or other municipal debt, repaid over up to 20 years. Participating municipalities can join together to obtain funding more cost effectively
The implementation of PACE in each municipality requires a public vote. There will be an article on the Town Meeting ballot in Marlboro asking voters to authorize the creation of the required district so that the program can be implemented in the future. Each municipality will have to make decisions about the parameters of their particular program.
Cities and towns can use PACE to become more self-reliant and energy efficient and contribute to meeting community sustainability, climate, and energy goals
Participating property owners pay for the benefit over up to 20 years through a special assessment charged as a new line item on their property tax bills,
VEIC, Efficiency Vermont and the Vermont League of Cities and Towns will provide support and model documents to assist in the implementation.
Please call Tom Simon at 802-380-5958 if you have any questions.
