The long-awaited CaliforniaFIRST financing program for non-residential properties is being launched with high expectations for wide-spread application in Santa Cruz. A workshop offering commercial property owners, tenants, local lenders, contractors and solar providers, architects, and builders information on the program will describe the program and how to take advantage of it. The program allows property owners to finance the installation of energy and water improvements through a low-cost government program, repaid through property tax bills.
Specifically, CaliforniaFIRST allows property owners to finance the installation of energy and water improvements on buildings used for commerce or industry and multi-family residential housing (more than 5 units). Owners pay the amount back as a line item on their property tax bill. Widespread installation of qualified improvements is projected to cut commercial building energy use by as much as 25%, save more than $10 billion in energy bills, and create nearly 25,000 jobs in California.
The workshop will provide information on: • How the program can help property owners and tenants save energy, decrease their utility bills and increase annual cash flow • The impact of these improvements on long-term value of commercial property • The overall structure and specific terms of this low-cost, long-term financing • How local lenders can use the program to secure loans to qualifying properties • The ability of the program to customize financing to meet the needs of each property to tailor its improvements to its needs • How contractors and solar providers can use the program to encourage energy efficient improvements and installations • How architects and builders can insure the design of improvements qualifies for the CaliforniaFirst program.
CaliforniaFIRST is a program of the California Statewide Communities Development Authority (CSCDA), a joint powers authority co-sponsored by the California State Association of Counties and the League of California Cities, and is administered by Renewable Funding, and Oakland-based group developing and administering complex financing in ten states.
CaliforniaFIRST is a Property Assessed Clean Energy (PACE) finance program for non-residential properties. The County and City of Santa Cruz have worked with CaliforniaFIRST to ensure that this program benefits and is available to local businesses and contractors.
For more information see www.californiafirst.org and www.cityofsantacruz.com/californiafirst
The workshop will be led by Simón Bryce, Program Director for Renewable Funding and the lead administrative officer for CaliforniaFIRST. Bryce assists local governments in designing and operating clean energy project financing programs. Prior to joining Renewable Funding, Bryce spent eight years on then-Oakland Mayor Jerry Brown’s staff. Bryce is a graduate of the University of Virginia and University of Michigan Law School and is a member of the Virginia and California bar associations.
Admission is free but pre-registration is required as seating is limited.