PNC Plaza Building is Going Green
$2.3 million public-private loan to finance major energy efficiency
[COLUMBUS, OH] –The
City of Columbus has challenged local businesses to “Go Green.” On Thursday,
March 10, 2016, the owner of PNC Plaza, Arthur Goldner & Associates,
Inc. will publicly announce plans use a $2.3
million loan from the Columbus Region Energy Fund to finance energy efficiency
upgrades which are expected to provide a 15% savings in energy costs per year.
The event will take place at 1pm, PNC Plaza, 155 E. Broad
“Today, the owner of PNC Plaza, Arthur Goldner & Associates,
Inc. is putting a flag in the ground to commit to the
challenge of energy efficiency,” said Councilmember Elizabeth Brown.
The PNC Plaza Building will undergo performance upgrades,
roof replacement and major updates to its HVAC systems. It is also the first project in Columbus to
take advantage of special assessments available through Energy Special
Improvements Districts and Ohio’s PACE Law.
“I hope their leadership will demonstrate to their peers in
the business community that this tool is not only useful for reducing energy
consumption in our city, but also is a practical step toward improving their
bottom lines,” she continued.
The Columbus Energy Challenge (https://www.columbus.gov/energychallenge/),
is a voluntary public-private partnership that issues loans from the Columbus
Region Energy Fund, administered by the Columbus Franklin County Finance
More about the
The Columbus Region Energy Fund is designed to provide
existing buildings with long term, low interest rate financing to make
significant energy efficiency upgrades to their properties. The fund is run by
the Columbus Franklin County Finance Authority who issues loans based on the
energy savings associated with the efficiency upgrades. As the property owner
realizes the cost savings, they use the funds to repay the loan through the
form of a special assessment on their property taxes. This financing mechanism
is unique because banks and other lending institutions typically don’t provide
long term loans for energy efficiency upgrades. This program is a critical
component in helping property owners in the City of Columbus meet the Columbus
Energy Challenge which is a voluntary program that is designed to achieve a 20%
reduction in community-wide energy use by the year 2020.