Premier Health Care Management, which owns and operates nine skilled nursing facilities with 961 beds in southwestern Ohio, is using the state’s Commercial Property Assessed Clean Energy (PACE) program to reduce some of the upfront construction costs for new buildings and renovations. Specifically, the program finances upgrades for energy efficiency, renewable energy, and water conservation.
According to Skilled Nursing News, Premier has so far used the financing to install solar panels, insulation, LED lighting, HVAC system, kitchen equipment, and thermostats, among other energy-efficient upgrades at multiple facilities.
Though part of a federal initiative, PACE funding is established by state-level legislation that authorizes municipalities to set up programs, according to materials from PACE’s website. The financing is paid back by the building owner through real estate taxes, and the PACE assessments transfer if the building changes owners.
Read more about PACE and how it affects the long-term care field at Skilled Nursing News.