Latest FIGtree News
Latest FIGtree News
rssAs the Program Administrator of Rancho Cordova’s Property Assessed Clean Energy (PACE) program, we would like to invite owners of commercial property in Rancho Cordova and local contractors to join us on May 23, 2012 to learn about this exciting new financing opportunity for energy-efficiency and renewable energy improvements. Unlike other project financing, the PACE program has a unique user-friendly participation plan that enables virtually any local owner of commercial property to qualify with no money down, no minimum credit score, and no personal guarantee.
This event will provide detailed information about how PACE financing works and will showcase other energy-related initiatives now available in Rancho Cordova. Additionally, you’ll hear from city officials and have opportunities to connect with local members of the energy-efficiency industry.
We hope you will join us on May 23, 2012 at 9:00 AM for this informative event to learn what PACE financing can do for you.
Click here to register for the Program Launch event, or visit pace_rancho_cordova.eventbrite.com.
For more information, please contact Figtree at 877-577-7373.
The Sacramento Business Journal today has featured the Figtree PACE financing program for commercial property energy-efficiency, water-efficiency, and renewable energy improvements. This program was adopted by the City of Rancho Cordova to give property owners a better way to save money on utility bills while promoting local economic development and environmental stewardship. The article describes the benefits of PACE financing to the community and highlights the upcoming public workshop scheduled for May 23, 2012.
The event will be held on May 23, 2012 at 9:00 a.m. at the Energy Protection Systems Technology Center, 3337 Sunrise Boulevard, Suite 5, Rancho Cordova.
To register in advance for the upcoming workshop, visit pace_rancho_cordova.eventbrite.com.
Click here to read the full article by visiting the Sacramento Business Journal online.
Following Figtree’s January 2012 announcement of participation with the California Enterprise Development Authority (CEDA) to fast-track PACE program implementation for cities and counties, property owners in seven additional municipal agencies will be eligible for financing beginning May 31, 2012. The leadership in energy responsibility demonstrated by these cities and counties is laying a foundation for local economic stimulus, job creation, and environmental stewardship.
PACE financing administered by Figtree Energy Resource Company will be available in the following cities and counties:
- County of Alameda
- County of Kern
- City of Dublin
- City of Pittsburg
- City of Rancho Cordova
- City of Redlands
- City of South San Francisco
HUNTERSVILLE, N.C., Apr 13, 2012 (BUSINESS WIRE) — Lime Energy Co. announced today a partnership with Figtree Energy Resource Company through which Lime’s Customers will benefit from the most flexible PACE financing options available in the State of California. Property Assessed Clean Energy (PACE) is a Government initiative that allows property owners to finance energy efficiency and renewable energy projects for their homes and commercial buildings. The addition of PACE will enable Lime’s California customers defray the costs of energy improvements that can be made to their facilities. This financing vehicle through Figtree can be used for energy efficiency, renewable energy and water conservation upgrades to commercial properties.
“California is one of the leaders among states adopting aggressive energy reduction targets,” said Adam Procell, Lime’s Executive Vice President. “Projects that previously lacked funding now have the ability to move forward and contribute to state energy reduction goals. Our award winning team in California has worked with hundreds of customers to deliver energy saving solutions and our partnership with Figtree enables us to continue to bring high value to this market through our clean energy solutions.”
PACE financing is determined by land value and is repaid via property tax bill without increasing regular property taxes for building owners. “Figtree offers the most flexible PACE financing in California,” said Ross Stout, Figtree’s Chief Operating Officer. “Partnering with clean energy firms like Lime Energy integrates the financial and technical components of energy projects and offers building owners immediate cash flow benefits while eliminating lengthy payback periods.”
About Lime Energy Co.
Lime Energy is building a clean energy future. As one of the nation’s leading providers of clean energy solutions, Lime brings over 25 years of delivering economically viable efficiency and renewable energy solutions that benefit communities and protect the environment. Lime’s platform includes some of the energy industry’s most experienced professionals and an expansive geographic footprint with over 350 employees at 18 locations in North America. Lime Energy’s services include integrated energy engineering, consulting and the implementation of solutions that enable customers to reduce their facility’s energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. The company’s stock is traded on NASDAQ under the symbol LIME. Additional information is available at www.lime-energy.com or by emailing info@lime-energy.com.
About Figtree
Figtree Energy Resource Company is a San Diego, California based corporation that is committed to making financial sense of the clean energy movement. Figtree is partnering with public agencies, private companies, suppliers, contractors and advocate organizations to make energy efficient communities a reality. Our extensive background in finance enabled Figtree to develop our own PACE program that makes energy efficiency financing accessible to virtually any commercial property owner. This popular financing program is now offered to commercial property owners in participating cities and counties throughout California. PACE financing stimulates local economies and creates job opportunities for approved contractors while reducing energy consumption and greenhouse gas emissions. Additional information is available at www.figtreecompany.com or by calling 877-577-7373.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy’s current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as “may,” “expects,” “anticipates,” “believes,” “hope,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy’s most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy’s subsequent SEC filings; such factors are incorporated here by reference.
SOURCE: Lime Energy Co.
Investor Relations Bristol Capital Ltd. Glen Akselrod, 905-326-1888 glen@bristolir.com
We want your experience with Figtree to be convenient and tailored to your individual needs. So, we’re giving you the choice to apply for financing online or by mail. For those who prefer to download a paper application to submit by mail, you can now visit our online application page to download all the paperwork you need to get started or click the links below. If you prefer to apply online, you can still submit the electronic form.
Commercial property owners, simply click here to download the application form.
Residential property owners, simply click here to download the application form.
In an article dated January 27, 2012, Forbes.com contributor Justin Gerdes recognized the Figtree PACE program as a “thriving” energy efficiency and renewable energy financing program. Forbes.com featured Figtree’s energy financing program as an example of positive developments in the Property Assessed Clean Energy (PACE) movement. Other PACE financing programs across the nation have stalled in the wake of opposition from the Federal Housing Finance Agency (FHFA) while Figtree has facilitated financing, job creation, and environmental stewardship in local communities.
Figtree’s successful funding of projects in multiple cities is a bright spot on the PACE canvas. Each property owner participating in this initial round of Figtree PACE financing “highlights an important but under-reported story of the PACE saga: programs for the commercial sector are thriving.” More than proving that PACE is an attractive financing option, program participants are doing their part to use energy wisely – and saving money at the same time.
To read more, please see “Powerful Solar Financing Program Gets Reprieve.”
San Diego, California, January 18, 2012 – Figtree Energy Resource Company announced today the recent issuance of a $725,000 Property Assessed Clean Energy (PACE) bond that will fund energy-efficient and renewable-energy projects in four different California cities. This PACE bond is the first-of-its-kind in the nation; it represents a new source of money for property improvements and a dynamic job creation program for local communities. The issuance of a multi-jurisdiction bond places California on the leading edge of energy efficiency financing.
Money raised by the bond will fund seven energy-efficient and renewable-energy projects in Fresno, Palm Springs, Clovis and Exeter, California. “PACE bond financing provides property owners fixed-rate, property value based and no credit check financing,” stated Mahesh Shah, CEO of Figtree. “The taxable municipal bond was sold to the capital markets without any state or federal funding assistance – a 100% private program,” Shah continued.
Under Assembly Bill 811, California property owners in special assessment districts may enter into voluntary contractual assessments against their properties to finance energy and water efficiency products. The financed amount incurred by the property owner is repaid over time through annual property tax assessments with the charge appearing as a line item on the property tax bill.
The primary goals of the bill are environmental – to lower greenhouse gas levels and reduce energy and water consumption. However, PACE financing is also seen by cities and counties as a stimulus program that spurs local economic growth and creates new jobs.
“Commercial and industrial property owners are facing high energy costs and environmental regulations. They need a way to purchase energy efficient products right now to improve their bottom line and remain competitive,” stated Joseph Oldham, Sustainability Manager for the city of Fresno, California. “Money from PACE bonds will pay for energy efficient products like solar panels, HVAC systems, insulated roofs and lighting systems; reducing costs and creating jobs for the local economy,” Oldham said.
With the successful issuance of the state’s first multijurisdictional land-secured municipal bonds under Assembly Bill 811, Figtree is now poised to help any and all cities in California with their goals for energy-efficiency and job creation.
Figtree Energy Resource Company of San Diego, California is the program administrator. The joint powers authority used by the participating municipal agencies is Pacific Housing & Finance Agency. The underwriter is O’Connor & Company Securities, Inc. of Newport Beach, California. Bond counsel is Lewis Brisbois Bisgaard & Smith LLP of Los Angeles, California.
Sacramento, California, January 9, 2012 – Announced today was the signing of a highly anticipated partnership agreement between California Enterprise Development Authority (CEDA) and Figtree Energy Resource Company (Figtree). This partnership creates an easy and cost-free path for cities and counties to authorize a financing program for energy and water efficiency products.
Local municipalities can now authorize, with a single resolution, a PACE (Property Assessed Clean Energy) financing program for property owners. “The PACE financing program offered by CEDA and Figtree utilizes bond financing to provide property owners fixed-rate, property value based and no credit check financing,” stated Mahesh Shah, CEO of Figtree. “The financed amount is repaid over time through annual property tax assessments with the charge appearing as a line item on the property tax bill,” Shah continued.
Under Assembly Bill 811, California property owners in special assessment districts may enter into voluntary contractual assessments against their properties, to finance a range of authorized energy and water efficiency products. The primary goals of the bill are environmental – to lower green house gas levels and reduce energy and water consumption. However, PACE financing is also seen by cities and counties as a stimulus program that spurs local economic growth and creates new jobs.
“This agreement will fast-track the process for offering PACE financing to commercial and industrial property owners who are facing new greenhouse gas regulations and higher energy costs. They need a way to purchase energy efficient products right now,” stated Wayne Schell, Chairman of CEDA. “With every installation of energy efficient products – like solar panels, HVAC systems, furnaces and boilers, lighting systems and new insulated roofs – comes jobs with paychecks for the local economy,” Schell said.
PACE financing will now be offered to cities and counties by CEDA (the joint powers authority and issuer of bonds), along with Figtree (the program administrator), and Willdan (the assessment administrator).
Monday, 17 October 2011 -Fresno Business Journal – In the interest of lowering the utility bills for local businesses, the Clovis City Council recently approved a program that will provide financing to property owners for energy efficiency upgrades.
The California PACE™ (Property Assessed Clean Energy) program, already adopted by Fresno earlier this year along with a number of other California cities, uses money from the sale of municipal bonds to extend loans for investments in lighting, air conditioning, windows, insulation, solar panels and other improvements that will stretch a building’s energy or water use.
Participating property owners will be able to pay back the loans through a voluntary assessment on their property tax for up to 20 years.
“This has the potential to save thousands of dollars for commercial-industrial property owners in energy consumption each year,” said Tina Sumner, community and economic development director for the city of Clovis, in a press release. “The poor economy makes it difficult for many property owners to pay out of pocket for these upgrades; the PACE program brings that opportunity.”
The fixed-rate financing requires no money down or credit check while the assessment is transferable if the property is sold.
Property owners interested in making energy efficiency upgrades should contact FIGtree Energy Resource Company, the San Diego-based organization administering the program, at (877) 577-7373
October 5th, 2011 – With a vote by the city council, California PACE™ financing is now available to property owners in the City of Kerman.
Under California Assembly Bill 811, California property owners in special assessment districts may enter into voluntary contractual assessments against their properties to finance energy-efficient products. The financed amount is repaid over time through annual property tax assessments, the charge appearing as a line item on the property tax bill.
California PACE™ (Property Assessed Clean Energy) offers property value based financing at a fixed rate. Applicants do not submit a credit check and there is no down payment.
The administrator of California PACE™ is Figtree Energy Resource Company, located in San Diego, California. Both residential and commercial property owners can find general information, disclosures and applications at www.figtreecompany.com.
