PACE Funding Group completes its first Commercial Property Assessed Clean Energy (C-PACE) financing
Los Gatos, California (June 10, 2019) – PACE Funding Group, LLC, a California-based specialty finance company with an established record in residential Property Assessed Clean Energy (R-PACE), announced today that it has completed its first Commercial Property Assessed Clean Energy (C-PACE) financing.
PACE Funding Group worked with the Alpine Hills Tennis and Swimming Club, a California nonprofit Corporation located in Portola Valley, California, to finance several clean energy improvements to the property including energy and water efficiency products. The PACE financing part of the project was in the amount of $1.5m and additionally included important seismic upgrades to the buildings.
Robert Giles, CEO of PACE Funding Group said “PACE Funding has been steadily building its residential PACE financing throughout California since 2016, and in Florida since earlier this year. The C-PACE component was a logical and important next step for us in building our business. We are delighted to have been able to assist Alpine Hills and look forward to other similar C-PACE projects in the near future”.
Eric Quade, General Manager of Alpine Hills Tennis and Swimming Club said “Thanks to PACE Funding Group we have been able to complete our extensive and necessary renovations to our property, and continue to provide upgraded facilities for our members while achieving important energy and water efficiencies and seismic updates”.
About PACE Funding Group:
PACE Funding Group, LLC is a leading renewable energy and energy efficiency financing provider with a focus on consumer protection and conservatism. The company’s PACE financing enables property owners to invest in their buildings and a healthier environment. PACE has proven to be a successful tool for supporting public policy initiatives across the country, without the use of taxpayer funds. While PACE programs are enabled by state legislation and must be approved by local governments, PACE Funding is not a government program.
PACE Funding has assisted more than 4,000 California homeowners with R-PACE projects to finance energy efficient upgrades to their homes and is approved in more than 410 municipalities through the State. The Florida PACE Funding Program was launched earlier this year and is eligible in more than 110 municipalities.
Based in Los Gatos, California, PACE Funding Group works with the California Statewide Communities Development Authority (CSCDA), the County of Los Angeles and the Western Riverside Council of Governments (WRCOG). Outside of California, PACE Funding Group has partnered with the Florida Development Finance Corporation (FDFC).
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