Sunday, August 13, 2017

Commercial Property Owners: Learn About Energize NY PACE financing

The City of Hudson has announced the availability of funding for commercial property energy upgrades through the “Energize NY” financing program.

Commercial Property Owners can learn more about the program by attending the upcoming information session.
August 18 6-7pm
Chamber of Commerce
One North Front Street, Hudson, NY.


According to Alderman Michael O’Hara, “Energize NY provides low cost, long-term alternatives to traditional loans to fund clean energy projects in commercially owned buildings. Energize NY was designed to give building owners better financing options for clean energy projects.”

There are now 230 communities in NY that have joined the Energize NY program, including Albany County, in February 2017. “All size businesses as well as nonprofits can benefit from modernizing their energy infrastructure, and Energize NY PACE provides long-term, low-cost capital should a business choose to take advantage of this opportunity,” said Albany County Executive Daniel P. McCoy.

Financing is available for up to 100% of the project cost with customizable loan terms of up to 20 years. One major benefit of working with the city to bring this financing to property owners, is that the financing is paid through annual charges to the property tax bill. This allows financing to automatically transfer to new owners if the property is sold. Finally, Energize NY will only finance projects which generate cash flow for the owner, meaning that the savings annually will be greater than the loan payments.

The City of Hudson and Energize NY both understand the value that clean energy upgrades provide for the buildings owners, as well as the community as a whole. By upgrading to cleaner, more energy efficient options, commercial building owners can reduce their emissions, reduce the cost of running their building, and join Hudson in its mission to create a more sustainable community.

To learn more about this program, contact Michael O’Hara at michael.ohara@cityofhudson.org or the Energize NY web site: http://commercial.energizeny.org/.