REBusinessOnline

Petros PACE Finance Provides $1.7M Financing for Indoor Sports Facility in Lincoln, Nebraska

LINCOLN, NEB. — Petros PACE Finance LLC has provided a $1.7 million commercial property-assessed clean energy (CPACE) loan for the construction of the Lincoln Sports Facility, a 92,000-square-foot project in Lincoln. Manzitto is the developer. The project, which will incorporate energy-saving measures in the construction, will include eight basketball courts that can be converted into volleyball courts as well as a 5,000-square-foot athletic training center. The facility will host practice games and regional tournaments for area youth. Energy-efficient features include lighting, roofing, windows and heating and cooling systems. CPACE is a financing structure in which building owners borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment on their property tax bill, according to the U.S. Department of Energy.

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