C.J. DeSantis | St. Louis Public Radio

C.J. DeSantis

Solar panels are one upgrade business can make with PACE financing. The Fairview Heights City Council will consider tonight whether to allow the financing program in its city.
File photo| Maria Altman | St. Louis Public Radio

Updated at 10:20 p.m. Aug. 20 to include the City Council's decision to delay its vote

Businesses in Fairview Heights may soon find private investors to help them make their buildings more energy efficient.

The Fairview Heights City Council is considering a proposal to establish a Property Assessed Clean Energy financing program in the city. The council had scheduled a vote for Tuesday, but delayed it until its Sept. 3 meeting to give the public an opportunity to see recent changes state legislators made to the law.

The PACE program gives commercial property owners access to long-term loans for efficiency upgrades. It would help new and existing businesses invest in their properties, said Paul Ellis, the city’s director of economic development.