Posted: May 28, 2014
The Florida Green Energy Works program has funded its first commercial deal – and it is a perfect example of how PACE or ‘Property Assessed Clean Energy’ can spark sustainable investment in our communities.
The $45,000 retrofit is of a family-owned business property at 1101 North Tamarind in West Palm Beach. The work – new HVAC, lighting, refrigeration, windows & doors – is being done by a local contractor, Fastrack MCI, with energy consulting from Wind, Water and Energy Conservation. Funding is from local bank: Grand Bank & Trust of Florida. Together with a grant from the West Palm Beach Community Redevelopment Agency (CRA), a rebate from FPL and the owner’s downpayment, the project will result in a $160,000 transformation of the entire corner of the block – and maybe the start of an economic development trend in the neighborhood.
“It was important for us to make an investment and do our part to make our section a better place,” said Frank Page, the owner of E&M Wine & Spirits. “PACE and the CRA gave us added incentive and ability to make this commitment.”