Ordinance 12-22
To: Members of Dublin City Council
From: Dana McDaniel, City Manager
Date: March 15, 2022
Initiated By: Megan O’Callaghan, Deputy City Manager, Chief Finance and Development Officer,
Sara O’Malley, Economic Development Administrator
Re: Ordinance Removing Special Assessment for Property Assessed Clean Energy (PACE)
Special Improvement financing for 5500 Frantz Road.
PACE Background
The City of Dublin is focused on setting appropriate conditions to encourage investment and
economic development. City Council continues to support the Economic Development Strategic
Plan to ensure Dublin’s office space remains competitive in the market. One particular tool the
economic development team has brought to existing commercial building owners’ attention is the
use of the Property Assessed Clean Energy (PACE) program, a favorable financing tool for major
energy efficiency improvements.
PACE is a simple and effective way to finance energy efficiency and renewable energy building
improvements through special assessments on a property owner’s real estate tax bill. The PACE
program can pay for qualifying improvements for almost any type of property including
commercial, retail, industrial, nonprofit, and multi-family. Property owners across the United States
are using PACE because it not only saves money, but makes these aging properties more valuable
to its owners and communities. A summary of PACE is provided as an enclosure in this memo.
Current Project
The building ownership at 5500 Frantz Road previously requested the use of PACE Financing for its
energy efficiency improvement project totaling $515,883. The scope of work completed included
interior and exterior LED lighting upgrades, boiler replacement, and other control upgrades. Dublin
City Council approved and passed appropriate legislation for this project in September of 2017;
marking the City’s first PACE project.
The owner of 5500 Frantz Road in Dublin, Ohio, Frantz Investments, LLC has recently sold its
property to a new owner. As such, the original owner/PACE applicant, has requested to pay off the
PACE financing for the property, which requires Dublin City Council to pass a new Ordinance
removing the special assessments from the property. The new owner did not want to assume the
PACE loan from 2017 and negotiated a prepayment of the loan during the recent sale of the
building. Council previously applied the special assessments via Ordinance No. 61-17 in September
2017.
Recommendation
Staff Recommends Council approval of Ordinance No. 12-22 on March 21, 2022. Please contact
Sara O’Malley with any questions.
Office of the City Manager
5555 Perimeter Drive • Dublin, OH 43017-1090
Phone: 614-410-4400 Memo
Memo re. PACE 5500 Frantz Road
March 15, 2022
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