SALISBURY – Officials in Wicomico County last week approved a loan program that will benefit commercial property owners who want to pursue green energy projects.
In a Wicomico County Council meeting last Tuesday, officials voted unanimously to approve a Clean Energy Loan Program, a Maryland Commercial PACE – Property Assessed Clean Energy – program that enables low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects that will be repaid through the property’s tax bill.
Bill Chambers, president and CEO of the Salisbury Area Chamber of Commerce, introduced the program to the county council in March.
Chambers told the council the PACE program would allow commercial property owners in Wicomico County to make their buildings energy efficient and allow county governments to create jobs, retain businesses and keep dollars in the local economy without raising taxes.
In a public hearing last week, Chambers urged the council to approve the Clean Energy Loan Program.
“We just want to reiterate its importance to development …,” he said. “It has been adopted by 14 other counties in Maryland, it’s a nationwide program, and it will bring significant economic benefits to the county and city. We ask for your support in adopting legislation regarding the PACE program.”
In 2014, Maryland passed policy that enabled PACE to work in the state. The law, however, requires that local ordinances be passed to take advantage of PACE financing.
Council Attorney Robert Taylor clarified that the county would not be providing loans for the program.
“This does not involve loans with county money,” he said. “The money will be provided by private lenders for these particular loans.”
The council voted 6-0 with Councilman Matt Holloway absent to approve the Clean Energy Loan Program.
