Dupage Policy Journal

Roselle’s village leaders during a recent board meeting listened to views about creating a Property Assessed Clean Energy (PACE) area in the village.

Multiple businesses have approached village leaders about how to get funding support for constructing electric vehicle charging stations. One option is the Illinois Finance Authority’s PACE program.

“The way I see it, this is a great way for us to provide targeted financial vehicles for businesses who are interested in redevelopment,” Mayor David Pileski said during the meeting, uploaded on YouTube. “I think a lot of times municipalities focus on TIF as a way to provide money, but this is a great way where it’s not our direct - we’re not financing it directly it’s for us to not worry about whether you’re in a special district or not. We can really make money available through this programming at a competitive rate to help incentivize developments.” 

The Illinois Finance Authority’s PACE program is an initiative that provides funding for green energy initiatives in commercial businesses. It is based on the EAV, or property worth, of the business, and business owners can get funding up to 20% of their EAV. The money can go toward projects like solar energy, EV charging stations, or water conservation efforts. 

In light of these incentives, the village staff recommended adopting the village area as a PACE area to increase green initiatives in local businesses. The area would be administered by the Illinois Financial Authority. 

The board decided to move forward with this ordinance, the next step of which would be to schedule a public hearing.