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Energy Project Assessment Districts ePAD CHP Policy Sub-Committee Meeting August 14, 2014

Energy Project Assessment Districts ePAD CHP Policy Sub-Committee Meeting August 14, 2014. Greater Cincinnati Energy Alliance. Nonprofit economic development agency Public-Private Partnership Energy Efficiency Services Education/Outreach Project Management Financing Solutions

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Energy Project Assessment Districts ePAD CHP Policy Sub-Committee Meeting August 14, 2014

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  1. Energy Project Assessment Districts ePAD CHP Policy Sub-Committee Meeting August 14, 2014

  2. Greater Cincinnati Energy Alliance • Nonprofit economic development agency • Public-Private Partnership • Energy Efficiency Services • Education/Outreach • Project Management • Financing Solutions • Total regional investment: $42 million

  3. What is ePAD?Energy Project Assessment District • Clean energy finance tool • Energy efficiency, renewable energy, and water efficiency upgrades • Works through property tax assessment • All assessments are voluntary • Based on special improvement district model • With a few changes . . . • Creates revenue stream to leverage third party capital

  4. Who can use ePAD? • Commercial Building Owners • Industrial facilities • Multi-family building (>4 units) • Agricultural buildings and processes • Not-for-profits & Government buildings • Organizations that do not pay taxes are eligible • Every building is listed on tax rolls

  5. Advantages to ePAD Barriers to EE/RE Upgrades ePAD Solutions • Lack of funds • No lenders • Poor ROI – Short term funding • Debt limitations • Might sell property • Split incentives • 100% external source • Unlimited private capital • Positive cash flow – Long term funding up to 30 yrs • Tax treatment as operating expense • Transfers to new owner • Tenants share cost/savings

  6. ePAD Programs Today 225 Projects Closed - $75 mil - Pipeline of $275+ million PACE enabled Early stage PACE program development Launched PACE programs PACE programs with funded projects

  7. ePAD Legislative Process • HB 404 adopted by Kentucky House in March • Session ended before approved by Senate • Back before the legislature in January • Kentucky ePAD Council is a multi-year effort to support the adoption and implementation of ePAD in Kentucky

  8. Contact Info Jeremy Faust Business Development Director jfaust@greatercea.org Greater Cincinnati Energy Alliance 200 W. 4th St., Suite 600 Cincinnati, OH 45202 W: 513.621.GCEA (4232) www.greatercea.org www.gcpace.org

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