Making eco-friendly improvements has reaped a windfall for Cassano’s Pizza, a Kettering, Ohio-based chain with 33 stores. The brand’s new location in Springfield, Ohio, will be built out with the help of more than $1.1 million in air quality revenue bonds issued by the Ohio Air Quality Development Authority (OAQDA).
OAQDA said the bonds will finance energy-efficiency and solar-energy improvements at the restaurant, operated by Dutch and Dutch Real Estate LLC. The financial assistance is provided through OAQDA’s Clean Air Improvement Program (CAIP).
“The new Cassano’s Pizza restaurant replaces an older building that our family-owned business has used for years but has outgrown,” said Cassano’s owner Chip Cassano in a press release. “Using the OAQDA program, we are able to finance energy-efficiency upgrades to our new building, helping our business expand, increase revenue and better serve Springfield customers.”
Christina O’Keeffe, executive director of OAQDA, said the agency’s programs “help small businesses maximize financial savings to improve operations and grow in their communities.” She added that the funding will result in “significant energy savings for Cassano’s Pizza.”
The air quality project includes installing a roof-mounted solar photovoltaic system; an upgraded highly efficient HVAC system; LED lighting fixtures; and building envelope upgrades.
According to the OAQDA, the measures are expected to achieve a cumulative 40% energy savings and a 42.5% reduction in utility costs for the restaurant. The proposed solar electric system will generate approximately 12,320 kWh a year.
Financing was secured using property assessed clean energy (PACE) financing approved by the local government of Springfield as well as the OAQDA-backed loan provided through First Financial.
Cassano’s Pizza is an Ohio classic dating back to its founding by grocer Victor Cassano in Kettering, Ohio, in 1953. It became a favorite hangout for baseball legend Pete Rose.
