San Francisco Launches PACE Program

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

San Francisco-based Stone & Youngberg and Backstrom McCarley Berry & Co. are serving as municipal bond underwriters.

The program allows San Francisco private property owners to finance water conservation, energy efficiency and renewable energy improvements through a voluntary property assessment. Each assessment will be paid in full within 20 years. Individuals who own property within San Francisco may apply to finance eligible projects through the GreenFinanceSF Web site.

SOURCE: Renewable Funding

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