PACE Programs finance energy efficiency, water conservation, and seismic strengthening improvements.
According to PACE LITERATURE – WE are eligible to over “90” energy improvements
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From the PACE website:
A unique financing tool, PACE allows LA County to issue a bond to a lender, which secures funding for the installation of energy and water efficiency, and renewable energy projects that are permanently fixed to the property. Homeowners then repay financing annually through an assessment on their property tax bill.
PACE financing enhances home values, lowers homeowners’ energy bills, reduces greenhouse gas emissions and creates green jobs.
PACE Program finance energy efficiency, water conservation, and seismic strengthening improvements.
We are told through a competitive solicitation our County or city chose two administrators for energy financing programs to operate its Residential Clean Energy Financing.
We are told that choosing two administrators for the Clean Energy Financing creates competition and gives homeowners more choices. Of course, this is NOT true! All Green Energy Financing schemes, to lower our green house gas emissions, are CONTROLLED by the International Banksters.
NOTE: Clean Energy Financing enhances home values AND triggers a property value INCREASE that you will pay on your annual property tax bill. Your property will be reassessed after implementing Green Energy REQUIREMENTS.
The Pace Energy Loan is billed to you on your property tax bill, on a separate line item. and the holders of PACE bonds have the right to foreclose against the property if your payment fails behind by 60 days. However, it is unlikely that “one” missed PACE assessment will trigger a judicial foreclosure and threaten the participant with the loss of their home.
In July 2010, launch of LA County’s Residential PACE program was put on hold due to concerns raised by the Federal Housing Finance Authority. Now that LA County is launching Residential PACE, do these FHFA concerns still pose an issue? YES . . .
In July 2010, the Federal Housing Finance Agency (FHFA) issued a statement that PACE programs present safety and soundness concerns to the mortgage portfolios held by Fannie Mae and Freddie Mac. The concerns were related directly to the priority lien status of the PACE assessments and the associated right of a PACE bondholder to initiate a foreclosure proceeding for non-payment of the PACE assessment and be first in line to receive any payment resulting from the foreclosure process. Despite these objections, several PACE programs continued to operate throughout the country and have not encountered problems with the FHFA. In response to the FHFA objections, the County has developed the County-wide, County-managed, consumer and lender-friendly residential PACE Program that includes a number of measures to mitigate the potential risks associated with FHFA objections, including a substantial amount of disclosures to property owners on the risks associated with entering into a PACE assessment contract. More information can be found at the following LA County website in the August 12, 2014 and March 3, 2015 Board of Supervisors meetings.
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PACE Program to finance energy efficiency, water conservation, and seismic strengthening improvements.
California Statewide Communities Development Authority (CSCDA) and CleanFund will coordinate with the Tax Collector’s Office for the inclusion of the tax levy and repayment for the subject property’s tax bill.
There are many PACE administrators operating throughout the state. Below is a table showing the PACE programs operating in Sonoma County and additional programs operating outside of the County.
Your County authorizing Multiple actions related to Sonoma County Property Assessed Clean Energy Financing Marketplace, Golden State Finance Authority, and Ygrene Energy Fund.
3/17/2015 – Resolution to add the FigTree Financing PACE program to the Marketplace and authorize the California Enterprise Development Authority to conduct contractual assessment proceedings and levy contractual assessments within the unincorporated territory of the County.
10/21/2014 – Multiple actions to create Sonoma County Property Assessed Clean Energy Financing Marketplace, including the addition of CaliforniaFIRST and HERO PACE financing to the Marketplace; joining the Western Riverside Council of Governments (WRCOG) JPA; and authorizing WRCOG and the California Statewide Communities Development Authority to accept applications from property owners, conduct contractual assessment proceedings, and levy contractual assessments within the unincorporated territory of the County.
3rd Party PACE Administrator
Renew Financial Ygrene Renovate America Dividend (formerly Figtree Financing)
PACE Funding Counterpointe SRE Clean Fund Petros PACE Finance Energy Efficient Equity
Blue Flame Energy Finance LLC Structured Finance Associates OnPACE Energy
Twain Financial Samas Commercial PACE Equity
PACE Programs – (search for more energy related loans offered in the U.S. by the International Bankers)
Sonoma County Energy Independence Program CaliforniaFIRST Ygrene
HERO Dividend (formerly Figtree Financing) E3 PACE
BluePACE Structured Finance
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