San Francisco Launches PACE Program

The city and county of San Francisco have officially launchedGreenFinanceSF. According to Oakland, Calif.-based Renewable Funding,which will administer the program and provide capital to fund theprojects, this is the U.S.’ largest property-assessed clean energy(PACE) program.

San Francisco-based Stone & Youngberg andBackstrom McCarley Berry & Co. are serving as municipal bondunderwriters.

The program allows San Francisco private propertyowners to finance water conservation, energy efficiency and renewableenergy improvements through a voluntary property assessment. Eachassessment will be paid in full within 20 years. Individuals who ownproperty within San Francisco may apply to finance eligible projectsthrough the GreenFinanceSF Web site.

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