The City’s Property Assessed Clean Energy (PACE) program administrator would be contracted for up to five additional years under a proposal introduced to City Council today by Mayor Brandon Johnson.

Administered by Loop-Counterpointe PACE LLC since 2018, the contract would be extended for three years starting in August with a possible two-year extension.

PACE provides low-cost, long-term financing for energy efficiency, sustainability, and renewable energy improvements to new and existing buildings through special property tax assessments that match the useful life of the improvements.

Recent program participants include Amped Kitchens in Belmont-Cragin, which received $4.6 million in PACE financing, and the Reserve Hotel in the Loop, which received $21.25 million in PACE financing.

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