News & Blog

  • HERO Launches in Florida

    Source: Renovate America

    Homeowners can use innovative HERO financing to reduce energy bills and stay safe through upgrading roofing, windows and doors, HVAC, solar, and more

    ORLANDO, July 26, 2017 – Homeowners in communities across the state of Florida now have access to an innovative form of financing called HERO, which allows them to make residential energy, efficiency, and wind-resistance improvements and pay for the upgrades over time through their property tax bill. Eligible improvements include solar panels; energy-efficient HVAC systems, roofing, and windows; and roof-to-wall connections, storm shutters and other products that can protect against wind damage and meet Florida Building Code requirements.

    HERO, which stands for Home Energy Renovation Opportunity, is the nation’s largest form of Property Assessed Clean Energy (PACE) financing and its launch is expected to bring multiple benefits to Florida communities and to individual homeowners.

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    MikeHERO Launches in Florida
  • The State of Hockey Goes Wild for PACE Financing

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    Source: St. Paul Port Authority

    Saint Paul, MN , July 18, 2017 – Go Wild, LLC secured $6.74 million in PACE financing as part of its capital stack for the Treasure Island Center redevelopment project in Saint Paul, Minnesota. PACE funds will be used for energy efficiency upgrades that are projected to cut utility costs by 40 to 60 percent, decreasing from $1.2 million per year to between $480,000 and $720,000.

    Treasure Island Center is a major, mixed-use redevelopment project scheduled for completion this fall. The former department store, built in 1963, covers 2.5 acres with 540,000 square feet of space. The new facility will be home to TRIA Rink, a fully enclosed rooftop ice arena that will be used by the Minnesota Wild as a practice facility.

    By working with Xcel Energy, the developer has committed to a number of building-wide, energy saving investments including: increased insulation; improved HVAC; new motion-controlled and LED lighting; and a new domestic water infrastructure.

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    MikeThe State of Hockey Goes Wild for PACE Financing
  • Tulare County Approves Renovate America’s HERO PACE Financing

    Source: Renovate America

    California county becomes latest local or state government in U.S. to give residents access to innovative financing for home energy and efficiency improvements

    SAN DIEGO, July 13, 2017 – Supervisors in Tulare County, California, voted this week to give residents access to Renovate America’s HERO Property Assessed Clean Energy (PACE) financing for home energy and efficiency improvements. The vote was the latest in a string of local legislative victories for both HERO and PACE, and showed momentum for the innovative financing mechanism growing in California and beyond.

    The vote by Tulare County supervisors to allow HERO to be offered in unincorporated portions of that county came as supervisors in neighboring Kern County voted 4-0 to give HERO a six-month extension to operate there. It also came a day after commissioners in Collier County, Florida, gave final approval to HERO in that county’s unincorporated region, which followed similar moves earlier this year by commissioners in Hillsborough and Pasco counties – also in Florida – and supervisors in California’s Amador and Glenn counties. Last month, city councilmembers in Santa Rosa, California, voted to give their residents access to HERO, as did the city of Columbia, Missouri.

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    MikeTulare County Approves Renovate America’s HERO PACE Financing
  • WDCEP Partners with Greenworks Lending to Support Economic Development Using Innovative Public/Private Partnership Approach

    Source: Greenworks Lending

    Washington, D.C., July 11, 2017 — The Washington DC Economic Partnership (WDCEP) and Greenworks Lending have entered into a partnership to bring Commercial Property Assessed Clean Energy (C-PACE) financing to commercial and multi-family property owners across Washington D.C.

    “The Washington DC Economic Partnership’s mission is to support business growth and economic development in Washington, DC,” said Keith Sellars, president and CEO of the WDCEP. “This partnership will help lead to more low-cost capital for city development, enhanced property values, reduced property operating expenses, and an improved environment that will ultimately support business owners and developers across the District. WDCEP will help introduce C-PACE, particularly to our partners in the development community and multifamily property owners who can utilize this program to improve housing stock and fuel redevelopment.”

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    MikeWDCEP Partners with Greenworks Lending to Support Economic Development Using Innovative Public/Private Partnership Approach
  • Historic Dallas building secures $23.9M in PACE financing for energy and water efficiency through TX PACE Authority

    Source: Dallas Business Journal

    The Dallas developer behind proposed plans to bring a Trump-branded hotel to downtown Dallas has landed $23.9 million in Property Assessed Clean Energy finance funds — which will help update the $120 million historic building with energy-efficient systems and water reduction technology.

    This loan is the largest commercial Property Assessed Clean Energy (PACE) deal in Texas and is believed to be the second largest of its kind in the country.

    Alterra International, which is based in Dallas and San Francisco, decided to apply for the PACE loan for the nine-story, century-old building at 500 S. Ervay St. to help it increase the energy-efficiency of the redevelopment project, which is still underway.

    Read the full article.

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    MikeHistoric Dallas building secures $23.9M in PACE financing for energy and water efficiency through TX PACE Authority
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