One Community Bank (OCB) is proud to be an innovative organization that puts clients, colleagues, and community first. With this commitment, OCB has also made a promise to continue finding opportunities and solutions to clean energy and sustainability practices. PACE (Property Assessed Clean Energy) financing has provided OCB this novel opportunity. PACE Wisconsin is a statewide Commercial Property Assessed Clean Energy (C-PACE) program. Each participating county adopts a model ordinance and elects to join in the PACE Wisconsin Program, which offers a uniform, open-market financing solution.
OCB is thrilled to announce that we’ve been recognized as being number ONE in PACE financing in Wisconsin for 2021! This was noted in the 2021 State of PACE Annual Report which referenced 21 PACE-funded transactions in 47 participating counties in Wisconsin. OCB is thrilled to not only have the opportunity to embrace the sustainability and efficiency growth across the state, but to be a leader while doing so.
One of OCB’s PACE highlights is the current funding of a $7.5 million C-PACE transaction with Madison-based hotel developer, North Central Group. The new hotel project, known as “The Trade Milwaukee” is a 205 room Autograph Collection Hotel by Marriott located within the Deer District Entertainment Area in downtown Milwaukee, which surrounds the Fiserv Forum, home of the Milwaukee Bucks. With a focus on energy efficiencies, The Trade Milwaukee will generate costs savings of $7.7 million over the course of the hotel’s useful life.
“We are proud to continue to lead the way among Wisconsin PACE Capital Providers. One Community Bank places a great deal of emphasis on offering a variety of product choices to our clients, and the availability of PACE lending is another great example of that. The use of PACE will only continue to grow as the market demands increased energy standards to new and existing buildings. As both a PACE and first mortgage lender, we can provide some distinct advantages to our clients that separate us from our competitors.” said Dan Carey, senior market president, One Community Bank.
“As a community bank that believes in sustainability, we are committed to doing our part to support renewable energies and socially responsible business decisions. We see our leadership in the PACE program as a cornerstone to a greener future for all communities.” said Steve Peotter, president and CEO of One Community Bank.
One Community Bank will continue to look for opportunities to find renewable energy solutions in future projects. We look forward to continuing to grow our footprint in sustainable solutions to drive community-wide clean energy benefits.