By JULIE CUNNINGHAM
Photo by City of Greenfield
(Greenfield, MA) Abercrombie Greenfield, LLC announced yesterday that the company will receive $450,000 in funding through the Property Assessment Clean Energy, or PACE, Massachusetts program to fund energy improvements on the 56 Bank Row building. Once approved for the capitol, Abercrombie Greenfield LLC was required to select a capital provider, for example a bank, to fund the project. Greenfield then levies a betterment assessment and placed a lien on the building, and is the responsible party for billing and collecting the assessments through municipal tax bills. The financing terms for this loan are longer, up to 20 years, which allows the property owner undertake more comprehensive energy upgrades. The assessment remains on the property with transfer of ownership.
Energy upgrades planned by Abercrombie Greenfield LLC at the Bank Row location are improvements on space heating, energy recovery ventilation, LED lighting and controls, improvements to windows and insulation, and a solar photovoltaic (PV) system on the roof. The building at 56 Bank Row was built in 1896, and is now home to the Northwest District Attorney’s Offices.