By Cindy Gonzalez, Omaha World-Herald
About $3.4 million in PACE funds are to fill a gap in the overall $13.6 million cost of converting the seven-story downtown structure to the hotel, said Rob Shear of PACE Sage Capital LLC, which helped arrange the private financing for ViaNova. He said the PACE loan is to close later this month. Shear calls the new financing mechanism, which is used already in some other states, a boost to economic development. He said it can breathe life into commercial projects that otherwise might never get off the ground.
Photo: Downtown Omaha, Wikimedia Commons
MORE ABOUT PROPERTY ASSESSED CLEAN ENERGY (PACE)
- PACE Nation Website
- Watch the video, PACE in 90 Seconds and download PACE Basics One-pager.
- Nebraska passed PACE-enabling legislation in 2016.
PACE was named one of the top 20 “world-changing” ideas by Scientific American magazine.
– PACE Nation