Read WRCOG‘s response to the Wall St. Journal below:
Riverside, CA – August 23, 2017 – The Western Riverside Council of Governments (WRCOG) is the largest bond issuer for Property Assessed Clean Energy (PACE) financing, which provides financing to eligible property owners for energy efficiency, water conservation, and renewable energy upgrades. WRCOG serves as the government oversight agency for a series of PACE providers, including the nation’s largest, the HERO Program, as well as Samas Commercial, CaliforniaFIRST, and soon to launch PACE Funding and Spruce Finance. WRCOG’s PACE programs have helped thousands of property owners improve their homes, and have brought numerous economic and environmental benefits to Western Riverside County and the 371 jurisdictions that operate statewide under the California HERO Program.
On August 15 the Wall Street Journal published a story on PACE (“More Borrowers are Defaulting on their ‘Green’ PACE Loans”). WRCOG’s Executive Director, Rick Bishop, issued a statement in response to the article.