C-PACE CASE STUDIES

MAN Holdings Shaker West Professional Sustainability Project

MAN Holdings Strong building income, but hobbled by utility expenses Shaker West Professional Sustainability Project Strong building income, but hobbled by utility expenses 3 year electric expenditure average $96,400 yearly 3 year gas expenditure average $ 26,350 yearly Gas and electric expense consumed over 30% of building income This building was acquired at an aggressive price because the expenses intimidated many buyers

MAN Holdings Expenditures $440,000 Shaker West Professional Sustainability Project Expenditures $440,000 Lighting Retrofit $75,000 HVAC Controls $68,000 Building Envelope: Window Caulking and Tinting $67,000 Solar Panels $230,000

Projected annual energy savings $64,200 Yearly PACE payment $39,000 MAN Holdings Shaker West Professional Sustainability Project Projected annual energy savings $64,200 cut utility expense by over 66% Yearly PACE payment $39,000 Net annual gain $25,200 Additional savings: one time utility and tax incentives $ 80,000

MAN Holdings Move the expense off P&L and Balance Sheet Shaker West Professional Sustainability Project Move the expense off P&L and Balance Sheet PACE loans are a tax assessment, not a liability Improve the look, feel and marketing of building Sustainability sets you apart If I sell, the PACE assessment can follow the parcel A traditional loan would need to be paid off

MAN Holdings Shaker West Professional Sustainability Project Over 20 year period this project generates projected savings of about $600,000