Vote for PACE
Editor of the Reformer:
On Monday, February 29th, the voters of Rockingham will vote on Article 21 to designate the Town of Rockingham as a Property Assessed Clean Energy (PACE) District. I urge the voters to approve this Article. PACE is a financing program that helps homeowners and owner occupied rentals of 1-4 units pay for energy efficiency and renewable energy projects.
PACE allows homeowners to finance projects up to $30,000. The financing is tied to the property, not a person. If a homeowner finances a project through PACE and moves, the new owners can take over the remainder of the payments.
PACE is affordable with low monthly payments with repayment periods of up to 20 years.
Points to consider when voting on PACE:
• Rockingham does not incur any cost or liability for PACE and there is no impact to the town budget.
• There is no effect on town taxes
• PACE financing is completely voluntary and has no effect on homeowners who do not participate in the program.
• Rockingham may opt out to the program at any time should we wish
• Efficiency Vermont will act as PACE administrator for Rockingham – at no cost to the town
• While PACE is a voluntary assessment on the participating property, it is not billed by the town on the property tax bill. It is billed monthly by the PACE Processor; Opportunities Credit Union. This frees the town of have any involvement in that process.
PACE is a unique alternative to traditional loans and provides important advantages for some homeowners. There may be other financing options that are more advantageous to homeowners given their unique requirements. It is the desire of the Rockingham Conservation Commission that the residents of Rockingham have access to as many financing option as possible. In this case State statute requires a town vote of approval.
For further information, please call Efficiency Vermont at 888-921-5990 or email PACE@EfficiencyVermont.com. From personal experience, Mark Kelley, Program Manager, Financing at Efficiency Vermont, is fully committed to find ways to make financing options work for Vermonters.
Guy Payne Saxtons River, Feb. 21