Businesses in Cape ready to take advantage of clean-energy district

A number of projects will be in the works soon as Cape Girardeau businesses take advantage of the city's involvement in a new, clean-energy district.

The city council gave final approval Monday to an ordinance allowing the city to join and participate in the new Show Me PACE district.

The Missouri Energy Initiative and PACE Equity approached the city about participating in the district, designed to help commercial property owners with funding for clean and renewable energy and energy-efficiency improvements.

"We weighed out the benefits of the program," said deputy city manager Molly Hood. "It doesn't result in any additional work for the city, but puts another economic tool in our toolbox."

No oversight is required by the city, although the district's development board will oversee projects and provide all municipalities and the state an annual report.

In 2011, the Missouri General Assembly enacted the Property Assessment Clean Energy Act (PACE). PACE offers loans covering all of the improvement costs, up to 20 percent of a building's value, repaid through a special tax assessment on the property for up to 20 years.

Funding comes through private capital sources rather than government funding or taxes and is attached to the property, not the owner, according to Missouri Energy Initiative. Involvement is voluntary.

A major factor in the city's decision to join the district was the interest already shown by local businesses. One letter sent by Jeff Maurer to the mayor and city manager described some energy efficiency-bolstering projects on the line for a Rhodes 101 Convenience Store and a CityCentre. Maurer is working as a partner with Rhodes on the projects.

"I am requesting that you approve the new PACE District, as that approval is the only remaining step required for property owners in Cape Girardeau to access PACE financing," he wrote.

Joshua Campbell, executive director of the Missouri Energy Initiative, said that kind of input is what they look for when seeking communities to join the district.

"If there are no businesses in the community interested, there's no reason for PACE to be there," he said.

Cape Girardeau also was a town of interest because it was in the position to use PACE as a "recruitment tool" to attract new businesses, Campbell said, and possibly as a revitalization tool for downtown and other areas.

Maurer said in a recent phone interview the opportunities PACE provides is the key reason for moving forward with projects at the convenience store and CityCentre. The first project is at the Rhodes 101 at 1126 N. Sprigg St.

"The plan that we replace the roof there and sometime in the next 60 days, we hope to bring the solar array in," he said. "We're literally going to cover the roof of the building and the fuel canopy with solar panels, as many as we can fit in those two areas."

The project also calls for canopy lighting and other lights around the parking lot to be replaced with LED lights.

For the CityCentre at 2502 Tanner Drive, improvements include a rooftop solar array, more energy-efficient HVAC units and installing LED lights inside the building.

Campbell said the projects PACE funds differ from the smaller-scale incentives utility companies sometimes offer to customers to make energy-efficient investments.

"Energy efficiency runs the gamut," he said, "anything that saves energy."

That includes large projects such as solar arrays, but includes insulation, roof repairs and improvements to heating and cooling systems.

The projects, however, have to be something that is permanent to the building and "can't be moved," Campbell said.

Maurer said once initial projects are complete, Rhodes is interested in looking at making improvements at other locations. The district anticipates several other businesses likewise will be interested in pursuing options with PACE.

"Show Me Pace believes just in 2015, we will do a minimum of $6 million of work in the state and possibly up to 20 (million), and a good portion of that is in Cape Girardeau," Campbell said.

More information is available at showmepace.org, the district's website, or pacenow.org, a national website about PACE.

srinehart@semissourian.com

388-3641

Pertinent address:

Cape Girardeau, Mo.