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PACE Financing: A 101 and Status Update

| Written by John Farrell | 4 Comments | Updated on Sep 6, 2011 The content that follows was originally published on the Institute for Local Self-Reliance website at http://www.ilsr.org/pace-financing-101-and-status-update/

A short slide deck providing a “101″ on Property Assessed Clean Energy (PACE) financing, a status update on the legal challenges, and some of the policy design issues we explored in our report on Municipal Financing Lessons Learned.

PACE Financing 101 and Status
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About John Farrell

John Farrell directs the Energy Self-Reliant States and Communities program at the Institute for Local Self-Reliance and he focuses on energy policy developments that best expand the benefits of local ownership and dispersed generation of renewable energy. More

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4 Comments

California County’s PACE Program Could Get Feisty With Feds – CleanTechnica said...

[...] upgrades and pay them back through a property tax assessment (for an explanation of PACE, see this PACE 101 slideshow). The fight with FHFA stems from these assessments being “first liens,” e.g. in the event of [...]

Nov 26, 2012

California County’s PACE Program Could Get Feisty With Feds – Cleantech Reporter said...

[...] upgrades and pay them back through a property tax assessment (for an explanation of PACE, see this PACE 101 slideshow). The fight with FHFA stems from these assessments being “first liens,” e.g. in the event of [...]

Nov 26, 2012

Don Christiansen said...

Thanks for the article John!

RE: “the terms of the Fannie Mae/Freddie Mac Uniform Security Instruments prohibit loans that have senior lien status”

In California SB 555 (an update to AB 811) treats PACE as a self-imposed Mello Roos TAX. Mello Roos is commonly used by developers to pay for infrastructure like roads and street lighting. It is my understanding that coming under Mello Roos negates the ability of the FHFA to limit PACE financing for FANNIE and FREDDIE loans.

Any comments on this subject would be appreciated.

Nov 29, 2012

California County’s PACE Program Could Get Feisty with Feds said...

[...] upgrades and pay them back through a property tax assessment (for an explanation of PACE, see this PACE 101 slideshow).  The fight with FHFA stems from these assessments being “first liens,” e.g. in the event of [...]

Nov 30, 2012