FIGTREE PACE: Energy Solutions for Your Community
A growing number of cities and counties throughout California including, recently, the City of San Diego, have adopted the FIGTREE PACE program – a new way to finance energy and water efficiency and renewable energy building improvements. This innovative and proven financing model is made available through the California Enterprise Development Authority (CEDA), a statewide Joint Powers Authority. Operating under Assembly Bill 811, FIGTREE PACE enables property owners to make payments for Property Assessed Clean Energy (PACE) financing through a line item charge on their property tax bill.
FIGTREE PACE Benefits Your Community
- Stimulates your local economy. $4M invested in energy retrofits can create $10M in gross economic output and $1M in combined federal, state and local tax revenues.
- Creates local jobs. $4M invested in energy retrofits will create 60 jobs in your community.
- Reduces greenhouse gas emissions. FIGTREE PACE enables GHG-reducing building improvements and supports the efforts identified in your Climate Action Plan.
Source: ECONorthwest, 2011
FIGTREE Gives Value to Your Energy Initiatives
- Turnkey Solution. FIGTREE PACE has already been successfully implemented in over 25 jurisdictions and provides a complete financing solution for energy upgrade projects in your community.
- Program Marketing. FIGTREE implements a comprehensive marketing strategy to engage local contractors and property owners.
- Non-exclusive. There is no exclusive arrangement created, ensuring the local government has a competitive PACE market.
No Cost and No Liability to Your City or County
- No Cost Program. There are no costs to local government agencies to make the program available. No costs for setup, assessment district formation, or implementation.
- No Liability. Your City or County is protected by complete indemnification.
- No Debt. Bonds issued to finance projects are issued by CEDA and your local government agency has no obligation to any bonds.
- No Ongoing Resources Required. FIGTREE administers all day-to-day operations including calculating charges to be placed on the County Tax Roll for PACE collections.