Nebraska is close to completion on their first project following the passing of the Nebraska Pace Energy Act in 2017.
For those unfamiliar with PACE, it is best summarized on their site: “PACE (Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE can pay for new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any property – homes, commercial, industrial, non-profit, and agricultural.”
With all of the recent efforts to revamp historical areas of Omaha, the program has been well-received.
According to the CEO of PACE Sage Capitol, “The response to the new economic development tool for developers and commercial property owners in Omaha has been well beyond our expectations.” The commercial real estate is embracing PACE, and he plans to personally develop the Omaha market in response to this warm response and interest.
In addition to continuing to develop the Omaha PACE District, they plan on expanding to other Nebraska cities this year.