A new way of financing upgrades to commercial, industrial and apartment buildings of more than five units would be created in Louisville, KY, under an ordinance proposed by Councilman Bill Hollander, according The Courier-Journal.
Under the plan, upgrades would be made through private financing. Those loans then would be paid back through the owner’s property taxes. The story added that this form of financing would not be available to single family homes. Hollander represents the city’s 9th District.
The plan is made possible by the passage last year of HB100, which created Energy Project Assessment Districts. EPADs, the story said, promote new ways of financing energy and water efficiency projects.
The potential move by Louisville is similar in structure to Property Assessed Clean Energy (PACE) loans. Last week, Williamson County, TX, commissioners the use of PACE loans in the county.