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May 27, 2020

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Special March 29 council meeting focus on energy financing

Ada council will hold a special committee meeting at 6:30 p.m., Tuesday, March 29, on the ONU campus, according to Angela Polachek of the village.

The meeting takes place in Room 113 of the Mathile Center for Natural Sciences, just off West Lincoln Avenue.

Teresa Smith of the Toledo-Lucas County Port Authority will talk about Property Assessed Clean Energy financing (PACE). Under this program PACE can finance energy saving projects from $25,000 to $9 million. It offers 15-year loans at rates between 4.5% and 5.5%

Polachek told the Icon that the meeting should be of particular interest to area businesses and industries.

"If Ada establishes an Energy Special Improvement District (ESID), every business and industry within the corporation limits may be eligible for this funding," she said.

The meeting is open to the public.