2015 caled conference pace financing. background the pace program provides financing to property...
TRANSCRIPT
2015 CALED CONFERENCE
PACE Financing
Background
The PACE Program provides financing to property owners to improve their homes and businesses with energy efficient, renewable energy and water conserving improvements.
Funding is paid back through property taxes over time.
State legislation (AB 811) enables this Program.
One example of a PACE program is the HERO Program, intiated in December 2011 for WRCOG members.
WRCOG expanded its Program (now called California HERO) to allow other cities and counties in the State to participate.
Economic Stimulus Lower Utility Bills New Job Creation Increased Property Values
Environmental Benefits Reduced CO2 Emissions Decreased Energy
Consumption Substantial Water Savings
Impacts
Who qualifies to participate?
Property owners may be individuals, associations, commercial business entities, cooperatives or non-profits
Bottom line: Any qualifying owner paying property taxes
have clear title to property
be current on property taxes
be current on mortgage payments
have some equity in the property
no bankruptcies
lender consent (commercial only)
How does it work for the property owner?
It’s a voluntary program
Property owners apply for Program coverage and select improvements desired
If approved, property owner enters into contract with administrator; all up-front costs are paid and assessment lien is placed on property
Property owner / subsequent property owner repays through property tax assessment over a period of years
Types of projects
36%
28%
24%
9%
2% 1%
Most Commonly
Installed Products
Solar PV
HVAC
Windows, Doors, Skylights
Cool Roof
Other
Water Conservation
Alameda CountyAlbanyBerkeley
Contra CostaAntiochBrentwoodConcordDanvilleEl CerritoLafayetteMartinezOakleyPleasant HillPittsburgRichmondSan PabloSan RamonWalnut Creek
El Dorado CountySouth Lake Tahoe
Fresno CountyClovisFresnoFresno County
UnincorporatedKermanKingsburgParlierReedleySangerSelma
Humboldt CountyEureka
Imperial CountyBrawleyCalexicoCalipatria
El CentroHoltville
ImperialImperial County Unincorporated
Kern CountyArvinBakersfieldCalifornia CityDelanoKern County UnincorporatedMcFarlandRidgecrestShafterTaftTehachapiWasco
Kings CountyLemoore
Los Angeles CountyAlhambraArcadiaAvalonAzusaBaldwin ParkBellflowerBradburyCarsonClaremontCommerceCovinaDiamond BarEl MonteEl SegundoGardenaGlendoraHawthorneHermosa Beach
IndustryInglewoodIrwindaleLa Cañada Flintridge
LancasterLa VerneLawndaleLomitaMalibuMonroviaMontebelloMonterey ParkPalmdalePomonaRancho Palos VerdesRedondo BeachRolling Hills Rolling Hills EstatesRosemeadSan DimasSan FernandoSan GabrielSan MarinoSanta MonicaSierra MadreSouth El MonteSouth PasadenaTemple CityTorranceWalnutWest Covina
Madera CountyMadera County ..Unincorporated
Merced CountyAtwaterLivingstonMercedMerced County Unincorporated
Mono CountyMammoth LakesMono County Unincorporated
Monterey CountyCarmel-by-the-SeaDel Rey OaksMontereyMonterey County Unincorporated Pacific Grove
Napa CountyAmerican CanyonCalistogaNapaNapa County UnincorporatedSt. HelenaYountville
Orange CountyAliso ViejoAnaheimBreaBuena ParkCosta MesaCypressFountain ValleyGarden GroveHuntington BeachLa HabraLa PalmaLake ForestLaguna HillsNewport BeachPlacentiaRancho Santa MargaritaSan ClementeSanta Ana
StantonTustinWestminsterYorba Linda
Riverside CountyBeaumont
BlytheCathedral CityCoachellaDesert Hot SpringsE. Riverside County …UnincorporatedIndian WellsIndioLa QuintaPalm DesertPalm SpringsRancho Mirage
Sacramento CountyCitrus HeightsElk GroveGaltRancho CordovaSacramento County ….Unincorporated
San Diego CountyCarlsbadCoronadoDel MarEl CajonEncinitasEscondidoImperial BeachLa MesaLemon GroveNational CityOceansidePowaySan Diego
San Diego County UnincorporatedSan MarcosSanteeSolana BeachVista
San Francisco
CountySan FranciscoSan Francisco County …Unincorporated
San Joaquin CountyLodiMantecaRiponStockton Tracy
San Mateo CountyBurlingameDaly CityFoster CityMenlo ParkRedwood CitySan BrunoSan CarlosSan MateoSan Mateo County UnincorporatedSouth San FranciscoWoodside
Santa Barbara CountyLompoc
Santa Clara CountyMorgan HillGilroySan Jose
Santa Cruz CountyScotts ValleySanta Cruz County
Unincorporated
Solano CountyBeniciaDixonSolano County Unincorporated
Suisun CityVacavilleVallejo
Sonoma CountyHealdsburgSebastopolSonomaSonoma County
Unincorporated
Stanislaus CountyHughsonModestoNewmanOakdaleRiverbankTurlockWaterford
Tulare CountyTulareVisalia
Ventura CountyFillmoreOjaiOxnardPort HuenemeSanta PaulaSimi Valley
Yolo CountyWinters
WRCOG BanningCalimesaCanyon LakeCoronaEastvaleHemet
Jurupa ValleyLake ElsinoreMenifeeMoreno ValleyMurrietaNorcoPerrisRiversideRiverside County UnincorporatedSan JacintoTemeculaWildomar
________________
HERO Communities as of April 14, 2015
Indicates launched
California HERO - 221 cities and counties and counting
Program results
221 cities and counties have joined WRCOG’s California HERO Program
Represents 6+ million households
$431+ million for 20,000+ completed projects have been funded:
$253 million in Riverside County
$178 million in California HERO
25,000+ applications approved
$2.1+ billion in approved applications
