Using PACE financing for hotel development
Listen to North Central Group’s Director of Finance, Shawn Swenson, talk about how the company first learned about PACE, why it continues to be a valuable tool for them and how Baker Tilly Capital has helped them navigate the process.
NCG Hospitality (formerly known as North Central Group or NCG) is a leading developer, owner and operator of premium, select service and extended-stay hotels across the U.S. NCG Hospitality typically uses only traditional financing methods for their projects, but have recently begun incorporating Property Assessed Clean Energy (PACE) financing into their capital stack.
The PACE program allows for low-cost, up-front financing for energy efficiency, renewable energy and other qualifying improvements to new construction or renovation projects. NCG Hospitality knew of the program, but did not think it applied to their projects until learning from Baker Tilly that some of the rules had changed. Now, checking for PACE eligibility is a first step for all of their projects.
Listen to NCG Hospitality’s Director of Finance, Shawn Swenson, talk about how the company first learned about PACE and why it continues to be a valuable tool for them as well as how Baker Tilly Capital has helped them navigate the funding and approval process while integrating PACE with other financing sources.
For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.