Buck Love, who recently retired from NLEA received the Pacesetter Award for his work promoting Property Assessed Clean Energy (PACE). Buck coordinated the adoption of the PACE program in Emmet (2018), Cheboygan (2022), and Charlevoix (2023) Counties.
PACE is a financing tool that allows a commercial property owners to voluntarily enter into a special
assessment agreement with a local unit of government, which can be repaid over a period of up to 25 years. It enables cash flow positive investments in comprehensive energy efficiency, water efficiency, and renewable energy projects. By financing such projects through PACE, businesses can eliminate the need for upfront capital and benefit from PACE's long-term, fixed-rate financing structure. This ensures the savings from the project are greater than the annual PACE loan repayment – generating immediate positive cash flow.