PACE Funding Group closes first issuance of PACE bonds

 

PACE Funding Group (Los Gatos, CA, U.S.), a full service Property Assessed Clean Energy (PACE) program administrator in California, offering private sector residential PACE interest rates on August 30^th, 2016 announced the closing of its first issuance of PACE bond issue in partnership with California Statewide Communities Development Authority, Deutsche Bank National Trust Company, Stradling Yocca Carlson & Rauth, P.C. and David Taussig & Associates.

PACE Funding's financing solutions are available for a variety of pre-approved improvements to homes and buildings, including but not limited to solar power, solar thermal and energy efficiency improvements

“This transaction is the first of a weekly bond issuance process that allows us to substantially increase originations throughout the state. It is an important milestone, reflecting our success in attracting strong interest from the capital markets and toward enabling property owners across the State of California to save money while reducing energy use,” commented Robert Giles, CEO of PACE Funding Group.

With no money down and 100 percent financing for eligible projects in over 50 categories with payment terms for up to 25 years, PACE funding is designed to make home energy and water efficiency projects affordable. Homeowners make payments along with their property taxes, and in the event the property is sold, the remaining balance may be able to transfer to the new owner
source: http://www.solarserver.com