The Development Finance Authority of Summit County (DFA) offers commercial Property Assessed Clean Energy (PACE) financing. Prior to using PACE, a community must create or be part of an Energy Special Improvement District (ESID). DFA, in collaboration with Summit County, is the administrator of the Akron - Summit County ESID. Member communities are Akron, Barberton, Bath Township, Boston Heights Village, Copley Township, Coventry Township, Cuyahoga Falls, Fairlawn, Green, Hudson, Lakemore Village, Macedonia, Mogadore, New Franklin, Northfield Center Township, Norton, Richfield Village, Springfield Township, Stow, Tallmadge, and Twinsburg.
The ESID enables businesses, non-profits, and governments in member communities to fund energy improvements under Ohio’s PACE laws. Property owners can replace or improve existing roofs, windows, HVAC & electrical systems and more, resulting in reduced energy consumption and cost. Because the source of repayments is a voluntary special assessment against the property, the improvements can be achieved with favorable financing terms and do not constitute debt.
PACE Financing
PACE bonds are available to assist property owners with financing energy efficiency projects, resulting in a better work environment and reduced energy costs. Depending on project size, PACE improvements can be financed by DFA or other private sources:
PACE projects exceeding $2M may be eligible for financing through the Jobs & Investment Bond Fund. You may view the Jobs & Investment Bond Fund application below.
Within Summit County, PACE Projects between $250,000 and $1M may be eligible for financing through the Energy Efficiency Revolving Loan Fund (EERLF). You may view the EERLF application below.
Conduit PACE financing through various private lending sources is also possible.
In addition to commercial PACE financing through its Jobs & Investment Bond Fund and Energy Efficiency Revolving Loan Fund, DFA works with other financing partners throughout the ESID. These partners include (but are not limited to) NOPEC, PACE Equity, Nuveen, Dividend Finance, Twain Financial, Donovan Energy, and more.
For non-PACE bond financing options, please visit our Bond Financing page.
Resources and Application Process
To apply for (or answer any questions about) DFA’s PACE financing, please contact our office at 330-762-4776 or send us a message using the form below. Applications may be downloaded below, and once completed, can be mailed, emailed, or dropped off at our office. Additional reports and informational materials are available upon request.