Inland Green Capital Funds Kentucky’s First Ever Commercial PACE Bond
April 19, 2016
Oak Brook, Ill - Inland Green Capital LLC (“Inland Green Capital”), an environmental finance and investment company, announced today the closing and funding of the first ever commercial Property Assessed Clean Energy (“PACE”) transaction in the state of Kentucky. Through the Greater Cincinnati Energy Alliance, Inland Green Capital provided the capital for an array of energy-efficiency improvements for a senior living facility located in Covington.
“We are thrilled to provide capital for the first ever commercial PACE transaction in the state of Kentucky,” said Mark Pikus, senior vice president of Inland Green Capital. “This is a great new capital option for Kentucky as commercial property owners now have an affordable way to reduce their energy consumption and upgrade their properties with environmentally-conscious features by utilizing PACE funding.”
Inland Green Capital provided all the capital necessary for the approximately 92,000-square-foot, all electric Ivy Knoll Senior Living Community to benefit from several energy-efficient improvements, including the installation of solar panels, automated heating and cooling for each unit and LED lighting throughout the building.
PACE provides property owners with financing through local and state government municipalities for energy-efficiency, renewable energy and water conservation projects. Inland Green Capital provides capital for 100 percent of the project costs with no personal liability to the property owner. The funding is repaid by a special assessment that is part of the property’s real estate tax bill. Since the security is in the form of a special assessment, the PACE financing stays with the property until paid in full. Inland Green Capital is funding PACE projects throughout the country.
About Inland Green Capital LLC
Inland Green Capital LLC is an environmental finance and investment company that provides capital for energy efficiency solutions for its Borrowers using PACE and other funding tools throughout the country. For more information about Inland Green Capital, please refer to the company website at www.inlandgreencapital.com.
“We are thrilled to provide capital for the first ever commercial PACE transaction in the state of Kentucky,” said Mark Pikus, senior vice president of Inland Green Capital. “This is a great new capital option for Kentucky as commercial property owners now have an affordable way to reduce their energy consumption and upgrade their properties with environmentally-conscious features by utilizing PACE funding.”
Inland Green Capital provided all the capital necessary for the approximately 92,000-square-foot, all electric Ivy Knoll Senior Living Community to benefit from several energy-efficient improvements, including the installation of solar panels, automated heating and cooling for each unit and LED lighting throughout the building.
PACE provides property owners with financing through local and state government municipalities for energy-efficiency, renewable energy and water conservation projects. Inland Green Capital provides capital for 100 percent of the project costs with no personal liability to the property owner. The funding is repaid by a special assessment that is part of the property’s real estate tax bill. Since the security is in the form of a special assessment, the PACE financing stays with the property until paid in full. Inland Green Capital is funding PACE projects throughout the country.
About Inland Green Capital LLC
Inland Green Capital LLC is an environmental finance and investment company that provides capital for energy efficiency solutions for its Borrowers using PACE and other funding tools throughout the country. For more information about Inland Green Capital, please refer to the company website at www.inlandgreencapital.com.