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Luella Hannan Foundation Is First Non-Profit to Use PACE Financing with Lean & Green Michigan

Feb 06, 2018

On January 23, 2018, The Luella Hannan Foundation, which operates a senior community center on Woodward Avenue in Detroit, Michigan, became the first property owner to complete a Lean & Green Michigan PACE project in 2018 and the third in Wayne County in six months. 

About the Lean & Green PACE program

PACEhannan

The Hannan Foundation board and staff collaborated with Levin Energy Partners, Twain Financial, and Private Energy Partners to develop the project, which dramatically reduces utility costs and increases property value. Companies completing the electrical and mechanical work on the project are members of the National Electrical Contractors Association (NECA) Southeastern Michigan Chapter, who partner with the highly skilled workforce of the International Brotherhood of Electrical Workers (IBEW), Local 58.

With this project, Hannan became the first non-profit to use PACE financing with Lean & Green Michigan. Improvements to the 1971 building include LED lighting, building controls, heating and cooling work, and a power systems upgrade that will save the foundation a net $1.39 million dollars over the coming years.  Also during that span, the building’s greenhouse gas emissions and local pollution will be reduced as the building will no longer rely on steam power." 


 

Project FAQs:

  • PACE district: Wayne County
  • Property owner: Luella Hannan Memorial Foundation
  • PACE developer: Private Energy Partners
  • PACE contractor: Danboise Mechanical & Electrical
  • PACE lender: Twain Financial Partners
  • Amount financed: $908,695.80
  • Project term: 25 years
  • Net 25 year savings: $1,387,869.04

Energy conservation measures: Power generation, space heating, space cooling, hydronic heating and cooling system upgrades, LED lighting, full building controls, and power systems upgrade.

Impact: The project will result in major reductions in energy consumption across multiple categories, as well as reducing air pollution from compounds such as nitrous oxides, sulfur dioxide, and carbon monoxide