Frequently Asked Questions

Our Process for Homeowners

Ready to start your home improvement project?

Simply submit an application or contact us, and we’ll help you get started financing your next project with PACE.

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No, there is no application fee to finance your home improvements with Pace Avenue.

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An energy audit is not required to participate in the PACE financing programs. In general it might not be a bad idea to get an energy audit.A PACE energy audit is an inspection, survey and analysis of energy flows, for energy conservation in a building, process or system to reduce the amount of energy input into the system without negatively affecting the output(s). You can find out more details here.

One exception is Los Angeles County.  Los Angeles County requires an energy, water, and / or renewable energy audit to designate the scope of the project and to assess the expected energy cost savings of the improvements over their useful life. With a high-quality PACE energy audit carried out by a certified professional, energy efficiency projects are more likely to deliver the expected savings. The audit cost can be covered by PACE funding following project approval.

Often a PACE energy audit by a certified auditor is the best way for owners to determine which projects and products their property is eligible for, and which of those will produce more targeted benefit. Pace energy audits are a good way to ensure that you maximize the value you get by determining the total energy and water-cost savings to be had when doing property wide improvements. To top it off, the cost of the PACE energy audit can be financed through the PACE programs, along with the eligible products and projects.

Requirements for audits in Los Angeles County for PACE, regardless of the scope of work, are as follows:

  • The Owner chooses their own professional energy auditor meeting the Program eligibility requirements, who must conduct all audits.
  • The PACE energy audit must be conducted on the property within the 12 months prior to submission of the Final Application.
  • The measures for which the Property Owner is seeking financing must appear as identified opportunities or recommendations within the resulting audit report.
  • The audit must associate energy savings on a per measure basis.
  • Determine the expected energy and water saving savings in the following categories: peak savings (kW), electric savings (kWh), electric generation (kWh), water savings (gallons).
  • Estimated useful life of each individual measure.
  • Assess total project capital cost.
  • Determine the key financial metrics of the project including: return on investment, internal rate of return, net present value, and payback time based on the anticipated financing term.

All eligible auditors must comply with the following:

PACE energy audit
PACE energy audit
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Once your eligibility has been determined you can request funding towards any project that: 

  • Creates renewable energy (i.e. solar panels)
  • Conserves water (i.e. drought resistant landscaping)
  • Saves energy through improved efficiency (i.e. double paned windows, insulated roofing )

These funds are available for use by residential property owners towards any of the eligible products & projects.

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Once you’ve spoken to one of our home improvement advisors and decided on an improvement to make, Pace Avenue ensure that the financing and contractor selection move forward smoothly. 

Pace Avenue walks home owners through:

  • Narrowing down project interests and selecting the best improvement for their home.
  • Sourcing a reliable qualified contractor.
  • Getting quotes and estimates for desired projects.
  • Sourcing PACE financing.
  • Signing contracts.
  • Managing the fulfillment of projects.
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Yes, you and your contractors are responsible for obtaining all permits and completing any inspections required by your city or county. Speak with your contractor to obtain further information regarding your specific project.

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About Our Contractors

If you know a great contractor and are working with them already, we have no problem also working with them closely.  From your contractor’s perspective, we will help them get paid as soon as possible and keep them on the job – not worried about paperwork – something they will love.

If you do not have a contractor selected, we spend the time to set you up with quality contractors who have a reputation for charging fair rates and approaching their work with honesty and integrity. Finding the best contractor can be difficult but our experience makes it a whole lot easier. All contractors must go through our selection process and have quality reviews from websites such as Yelp, the BBB and others. Use us to help with finding the best contractor!

Our vetting process:

We ensure that all contractors have a history of providing quality work and a good experience. We require that our contractors have current contractors’ licensing. Current licensing is not enough as it only provides a minimum standard that guarantees that the contractor is established and legitimate. We also use online resources and other methods to ensure we are only working with the best contractors in the area. You need to have a clean Better Business Bureau record as well as a preponderance of good Yelp reviews. We prefer contractors that have lots of experience providing excellent projects and service. Our partner contractors need to provide a solid project and even better experience. More details about our vetting process can be found here. https://paceavenue.com/faq/Image result for general contractorhow-do-i-know-they-are-reputable/

 

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Our contractors must past the following rules to be sure they are reputable:

  • A satisfactory rating of “B” or better with the Better Business Bureau or other online review sites like Yelp and Angie’s List
  • A valid business license for any jurisdiction where they will be performing work under the program
  • Been in business for at least one year installing the equipment, products or materials indicated on their contractor’s license
  • An active license in good standing with the California Contractors State License Board (CSLB)
  • The required CSLB bonding and workers compensation insurance and general liability coverage

The selection of a registered contractor and acceptance of the materials used and the work performed is your responsibility. We vet but do not endorse any contractor or any other person involved with the projects, products or design of the products, or warrant the economic value, energy savings, safety, durability or reliability of the solutions you install.

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We vet them through secret shopping to ensure that they provide fair rates for all projects.

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At Pace Avenue we take the time to thoroughly qualify each and every contractor we partner with to ensure that you are getting the best quality work done for the best price.

Every contractor is certified through local and state authorities, highly rated on multiple review sites (yelp, BBB, etc.), and trusted to do quality, on-time, affordable work on your home.

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Our Financing for Homeowners

Property assessed clean energy (PACE) is a means of financing energy efficiency upgrades or renewable energy installations for buildings.

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At Pace Avenue, we find you the best deal from the PACE programs that cover your city. Our current financing partners have fixed interest rates that do not change for the entire time of the loan. In almost all cases PACE interest rates are between 7 – 10%. Competitive interest rates are one of the great strengths of PACE programs.

No income or credit checks necessary. Loans through the PACE program may also be tax deductible (check with your tax advisor). Using PACE financing can get you an superior interest rate for a number of reasons.

  • If you have poor credit, there is no way to receive financing that will provide you with a better interest rate than PACE. Any other lender would not be willing to offer you a competitive rate without a high FICO score.
  • Home equity provides lenders with security and gives them the flexibility to offer lower rates

The interest portion of all your payments is tax deductible. This means that you can subtract your tax rate from your interest payments to get your true interest rates

In addition to PACE interest rates being competitive the financing is also flexible. There is no down payment, and you can even defer payments for up to 17 months! You can also choose a payment term as low as 5 and as high as 25 years to best suit your financial needs.

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You apply and we see if you qualify.

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A PACE loan repayment period is variable, ranging from 5 to 25 years

The PACE loan repayment period depend on the homeowner’s preference, and are limited by the expected useful life of the most costly product of the improvements. Different repayment periods offer different advantages to homeowners. Shorter terms allow homeowners to pay lower interest rates and leads to less total interest being paid. A longer term gives homeowners the ability to keep more cash in their pockets at a time at the cost of a slightly higher interest rate.  Program fees remain constant regardless of the period of the loan.

Other term advantages of PACE financing:

Homeowners can defer the initial payment for up to 17 months. Start saving on energy costs and enjoying an upgraded home before you start paying!  You also do not need to make monthly interest payments. Payments are assessments to your property tax bill and therefore only need to be made when your property taxes are due. This frees up cash throughout the year and is another reason PACE can provide excellent financial flexibility.

To see even more advantages of PACE financing click here! If you want to see what interest rates are like click here!

 

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Yes, we offer unsecured loans.

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There is a lot to consider when making the decision about your home improvement project

Pace financing or traditional financing? Eco-friendly home improvement projects can immediately start paying for themselves through energy savings and helping the environment. Because you need flexibility and affordability, you should consider some advantages of financing your project with PACE.

If you choose to finance your next project through PACE you can expect:

  • Longer terms,
  • Tax advantages that deliver the lowest monthly payments,
  • Zero money down,
  • Payments stay with your property, and
  • No payments for up to seventeen months.

All these are great reasons that traditional financing methods can’t provide you with. We work with our PACE administrator partners to develop financing plans that offer low costs and high flexibility. We offer terms than range from 5 to 25 years, zero down financing (payments can be deferred for up to 17 months!), and low tax-deductible rates. PACE even has some advantages over HELOC!

If you have even more questions related to how PACE financing works and how the payments on the property taxes work don’t hesitate to give us a call at 866.722.3415 or email to contact [email protected] .com (please remove the spaces). We look forward to helping you with your environment and money saving project project!

 

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Image result for where pace financing is availablePACE financing is available in many states. PACE Nation has a good list. Legislation that enables PACE programs has been passed in 33 states plus D.C.; PACE is available and operating in 19 states plus D.C. California, Florida, and Missouri are the only states currently offering PACE to homeowners. Because PACE offers great benefits to homeowners, commercial property owners, local economies, and the environment, more states and municipalities are working to pass enabling legislation. The number of states and municipalities where PACE is available is set to grow in the coming months.

Though PACE has been enabled in California, PACE programs do not yet cover 100% of the state. Energycenter.org has an interactive map (pictured here) that lets you see which municipalities are currently covered by PACE.

To see if your home can qualify check here.

PACE financing was first created in Berkeley as a way to help deal with a major roadblock to solar implementation: upfront costs. With PACE property owners no longer needed to put up large sums of money to begin saving money and energy. . PACE received support from UC Berkeley and the city because it provided strong support to meet the city’s environmental goals.

In order to become enabled, lawyers must first identify the authority that is designated to spend money on public works projects such as street lights, creating parks, or building a sewage plant. Once this existing authority is identified its jurisdiction of projects must then be expanded to include energy and water efficiency projects. These projects serve the public purpose of helping the city consume less water and electricity. The legislation must also introduce a mechanism for voluntarily assessments of property taxes so homeowners can make their payments.

 

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PACE financing is paid as property tax assessment

This has a number of advantages: 

  • When the house is sold the property tax assessment stays with the house instead of following you.
  • More money in your pocket. Most loans require monthly payments. With PACE payments are only made as often as the property tax bill comes. Less frequent payments means more financial flexibility for you! Besides being paid as a property tax assessment, there are many other advantages to PACE.
  • Interest payments are tax deductible.

If you choose to finance your next project through PACE you can expect:

  • Longer terms,
  • Tax advantages that deliver the lowest monthly payments,
  • Zero money down,
  • Payments stay with your property, and
  • No payments for up to seventeen months.

All these are great reasons that traditional financing methods can’t provide you with. We work with our PACE administrator partners to develop financing plans that offer low costs and high flexibility. We offer terms than range from 5 to 25 years, zero down financing (payments can be deferred for up to 17 months!), and low tax-deductible rates. PACE even has some advantages over HELOC!

If you have even more questions related to how PACE financing works and how the payments on the property taxes work don’t hesitate to give us a call at 866.722.3415 or email to contact [email protected] .com (please remove the spaces). We look forward to helping you with your environment and money saving project project!

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While these are different city-by-city, county-by-county, there are the general rules and you will be qualified as long as you or your co-owner follow the following:

  • We do not care about your credit score, your lack of employment, any collections against you. We just have a couple of simple rules:
    • No current involuntary liens and/or judgments totaling more than $1,000 for all property owners
    • Property owners must be current on their property taxes for the prior 12 months
    • There must be no notices of default or foreclosure filed against the property within the last two years
    • No bankruptcies (business or personal) in the last two years. The property must not be an asset in a bankruptcy proceeding
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Pace Avenue can help with everything from securing financing to sourcing the contractors needed to get your project up and running.

Give us a call at 866.722.3415 or fill out a form to get started today!

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General Information for Homeowners

It depends. Contact us for further information.

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No. 

While we specialize in helping homeowners find the best financing for their projects, homeowners are welcome to pay with cash or provide their own form of financing. You can use Pace Avenue without financing. We even offer unsecured loans.

At Pace Avenue our mission is to help homeowners get the improvements they want and make their homes environmentally friendly. We use whatever means are available to do this. We want people to be able to get help from PACE Avenue without financing or with it.

Flexibility

Offering our customers flexibility is important at Pace Avenue. When it comes to financing we can deal with a variety of financing types. We can work with unsecured loans an will also accept cash. Even with PACE financing we can accommodate customers financial needs in a variety of ways. Customers can decide how far they would like to delay their first payments. They can also decide on a term ranging from 5 to 25 years.

We also offer flexibility related to the project. Our partner contractors are vetted and we will pick the best one for your project. However, we also allow homeowners to work with contractors they are familiar with if the contractor is PACE certified.

 

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Where Pace Avenue Operates – Canvassing

We currently operate throughout the entire state of California. In the East Bay our canvassing operations are currently active in ConcordMartinez, Antioch and, Pittsburg. Our South Bay canvassing operations are active in Santa Clara County. Our direct selling operations will be quickly expanding to other cities in California. However, we can also serve customers anywhere in the Bay Area where PACE financing is available. PACE programs are approved in areas where Pace Avenue operates. The map below shows where PACE programs exist and this article has additional details. We partner with PACE administrators to deliver PACE financing to homeowners that are interested in carrying out projects.

 

Where Pace Avenue Operates – Corporate Locations

Our corporate headquarters is in Oakland at 2201 Broadway Ave, Suite 300.  We also have corporate personnel located in Palo Alto and Santa Cruz.

 

 

Our role in helping homeowners get the improvements they need is to guide them through the entire process and arrange all of the construction and financing. When a homeowner chooses to work with Pace Avenue, we will first work with them to help understand the scope of the project. Our experienced and friendly home improvement consultants will assess the homeowner’s needs and work with a contractor to develop a proposal. We make sure that the contractor is vetted for a good homeowner experience and project quality.

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Here at Pace Avenue we help homeowners get financing for their clean energy home improvements and source high quality and trustworthy contractors to see your project through to completion.

At Pace Avenue, we introduce residential property owners to a new financing alternative to help them afford green home improvement projects. PACE financing allows zero money down, tax deductible interest rates, and flexible payment terms. Property assessed clean energy financing, or PACE for short, allows property owners to make clean energy improvements to their properties and is repaid through property taxes. In areas where the local government has approved PACE financing programs, Pace Avenue can help you make upgrades in the spheres of energy efficiency, renewable energy generation, and water conservation. So what does Pace Avenue do? We make the home improvement process easy and affordable and make our homes more efficient.

Getting the Best Project

Our role in helping homeowners get the improvements they need is to guide them through the entire process and arrange all of the construction and financing. When a homeowner chooses to work with Pace Avenue, we will first work with them to help understand the scope of the project. Our experienced and friendly home improvement consultants will assess the homeowner’s needs and work with a contractor to develop a proposal. We make sure that the contractor is vetted for a good homeowner experience and project quality.

Getting the Best Financing

In addition to ensuring our clients a smooth and quality project, we also make projects as affordable as possible. We work with our PACE administrator partners to develop financing plans that offer low costs and high flexibility. We offer terms than range from 5 to 25 years, zero down financing (payments can be deferred for up to 17 months!), and low tax-deductible rates. If you want to see what can Pace Avenue do to help you to get you started on your project click here!

 

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Any property owners who live in a city or county where one of the PACE programs has been approved to operate by the local government can fill out a PACE financing application. Click here to learn more about where PACE financing is available. You can also enter your address here to get started with making your dream project a reality (our contact information is also available on the page).

Am I qualified?

The only way to know for sure if you are qualified is to fill out a PACE financing application. However, eligibility requirements are based on a number of factors that are listed below (list is not comprehensive).

  1. Amount of equity held in home (mortgage-related debt on your property cannot exceed 90% of your home’s value)
  2. Recent bankruptcy history
  3. No unpaid property taxes
  4. Project must be eligible

Note that credit score is not a requirement. PACE lenders use a methodology that determines credit-worthiness without it.

Image result for homeowner

 

 

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While commercial properties can be eligible for the PACE program, Pace Avenue focuses solely on helping residential property owners make clean energy improvements.

If you’re interested in using the PACE program for commercial sites we recommend you reach out to the PACE Program administrators such as Ygrene, the Hero Program, or Figtree Finance.

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As of now almost all residential properties are eligible. While this includes single family homes and multi- family residential properties, buildings like mobile/manufactured homes and condominiums have special criteria they must meet before being granted eligibility.

For condominiums, eligibility depends not only on the physical restrictions of the physical property but on the covenants, conditions and restrictions associated with the complex as well. Prior to applying for PACE financing it is recommended to obtain written authorization allowing for the installation of eligible projects from the management team of the condominium.

For mobile and manufactured homes; they are eligible only if they pay legitimate property taxes and are attached permanently to the property. In addition the owner of the mobile home must also own the property underlying the home and often a current appraisal will be needed to determine the debt-to value and eligible cost calculations.

Unfortunately at this time facilities that are not on property tax rolls (i.e. government buildings, schools, etc.) are not eligible to participate

 

 

 

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Yes, we are like Lending Tree, Kayak or Credit Karma only for the clean energy home improvement industry.  Not only do we find the most affordable, honest contractors validated through sources like BBB, Yelp, Angies List, etc. but we also ensure that they are a perfect fit for your specific home improvement project. We will find you the best home improvement financing and contractor.

Getting the Best Project

Our role in helping homeowners get the improvements they need is to guide them through the entire process and arrange all of the construction and financing. When a homeowner chooses to work with Pace Avenue, we will first work with them to help understand the scope of the project. Our experienced and friendly home improvement consultants will assess the homeowner’s needs and work with a contractor to develop a proposal. We make sure that the contractor is vetted for a good homeowner experience and project quality.

All contractors must have a current contractors’ license. Current licensing is not enough as it only provides a minimum standard that guarantees that the contractor is established and legitimate. We also use online resources and other methods to ensure we are only working with the best contractors in the area. You need to have a clean Better Business Bureau record as well as a preponderance of good Yelp reviews. We prefer contractors that have lots of experience providing excellent projects and service. Our partner contractors need to provide a solid project and even better experience.

Getting the Best Financing

In addition to ensuring our clients a smooth and quality project, we also make projects as affordable as possible. We work with our PACE administrator partners to develop financing plans that offer low costs and high flexibility. We offer terms than range from 5 to 25 years, zero down financing (payments can be deferred for up to 17 months!), and low tax-deductible rates. If you want to see what can Pace Avenue do to help you to get you started on your project click here!

Work with Pace Avenue to get the best home improvement financing and contractor!

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While these are different city-by-city, county-by-county, there are the general rules:

  • No current involuntary liens and/or judgments totaling more than $1,000 for all property owners
  • Property owners must be current on their property taxes for the prior 12 months
  • There must be no notices of default or foreclosure filed against the property within the last two years
  • No bankruptcies (business or personal) in the last two years. The property must not be an asset in a bankruptcy proceeding
  • Projects must include the installation of new, permanently fixed products that are for the purpose of energy efficiency, renewable energy or water saving. To be eligible, products must also meet minimum efficiency and/or other requirements.
  • Projects must be installed by a participating contractor
  • Minimum financing amount is $5,000
  • Maximum amount financed is the lesser of $200,000 or 15% of the value of the property plus the combined amount financed under the program; mortgage-related debt cannot exceed 100% of the value of the property
  • Property owners should participate in available state and federal incentive and rebate programs and must declare any rebates received for the project

Check out our Eligible Projects & Products page for the full list of improvements you can make through Pace Avenue!

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For Contractors and Installers

No. Pace Avenue only will work with contractors and installers with licensing in good standing as shown on the CSLB website. Contractor licensing provides us with information about the reliability and legitimacy of a potential partner. We have set a high standard for our contractors and will not accept the liability of working with unlicensed contractors. You also must have required CSLB bonding and workers compensation insurance and general liability coverage.

Current licensing is not enough as it only provides a minimum standard that guarantees that the contractor is established and legitimate. We also use online resources and other methods to ensure we are only working with the best contractors in the area. You need to have a clean Better Business Bureau record as well as a preponderance of good Yelp reviews. We prefer contractors that have lots of experience providing excellent projects and service. Our partner contractors need to provide a solid project and even better experience.

Contractors State License Board

We do everything we can to ensure that our customers have the best experience with our contractors. It is vital to us that contractors provide customers with quality projects, good communication, and a pleasant experience. Effective contractors are a vital cornerstone of our business and we would not be successful if we weren’t working exclusively with the best.

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General Information

Property owners apply for the program, describing the energy and/or water saving improvement(s) they wish to make. If approved, the county and the property owner enter into an assessment contract and implementation agreement, through which the county pays the final cost of the improvements. The county places an assessment lien on the property, and the property owner repays the county for the improvements as an assessment on his/her property tax bill over a 10 or 20 year period.

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PACE Financing to allow property owners the opportunity to finance energy and water efficient property improvements through the property tax system. It is an innovative effort to improve a building’s energy efficiency, water conservation and renewable energy generation, thereby reducing greenhouse gas emissions.

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Any residential property owner in Pace Avenue’s Area of Service (currently selected cities, towns and unincorporated areas within the Bay Area) may participate in the program, provided the following PACE eligibility requirements are satisfied:

  • Applicant(s) is / are legal owner of the property described in the Application (the “Property”).
    Property is developed and located within Pace Avenue’s Area of Service. Mobile homes that are not affixed to real property and subject to secured property tax are not eligible.
  • Property Owner is current on all property taxes.
  • Property Owner is current on mortgage(s).
  • Property Owner is not in bankruptcy and the property is not an asset in a bankruptcy.

1. If property is subject to loan modification because of default or delinquency, additional restrictions apply. Contact us for details.
2. For PACE Financing, “residential property” is defined as single-family properties with 1-to-4 residential units;
3. If property owner has been in bankruptcy in the past three years, or has been late recently on their mortgage or property taxes additional requirements apply. Contact us for details.

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Getting started is as easy as:

school

Fill out the Getting Started form or  Alternatively (and maybe the best way), Call us at 866.722.3415. Or email us at ContactUs @ PaceAvenue .com. (Please remove the spaces). We will then set you up with a home improvement project manager.

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Decide which clean energy project best suites your needs and goals. Take a look at our Eligible Products & Projects for inspiration.

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Schedule your Free 30 minute In-Home consultation with an approved specialist to help determine the scope of the project

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PACE Financing is intended for improvements on residential, commercial, and industrial properties. You do, however, have to be the property owner, not a tenant.

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Property owners must supply documentation that the party(ies) signing the documents are authorized to sign legal documents on behalf of and bind the trust.

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No. You or your contractor must obtain all required permits from your local authority.

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Licensed, professional contractors working on their own property may request PACE Financing for materials, cost of their work crew’s labor and overhead but not for their own time. The labor and time of the contractor is not included. Since labor can only be paid if work is done under a licensed contractor, unlicensed owner-builders cannot pay themselves or anyone not performing labor under the supervision of a licensed contractor. For example, you may not pay your handyman for the installation of a tankless water heater, unless your handyman is working under the supervision of someone with a valid contractor’s license.

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A project is defined as “started” and not available for participation in the program when labor associated with the construction or installation of improvements has occurred on-site. Actions not defined as “starting” include: audits, estimates, being ‘in contract’ with a vendor, and the delivery of materials. Labor should never begin prior to contract signing and receipt of a Notice to Proceed letter. Pace Avenue is not responsible for any expenses incurred if your application is not approved for some reason or other issues arise prior to contract signing.

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If a property is already on the market to be sold, or expected to be listed “for sale” prior to the disbursement of funds, then it is not eligible for PACE Financing. Funds are available if a property owner chooses to make energy/water efficient improvements to the property before it is put on the market; however, all work must be completed and the final disbursement must take place prior to listing the property for sale.

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Program Finance Information

PACE Financing has several advantages that you may want to consider:

  • Easy and simple to qualify
    Financing is not based on the owner’s annual income
    Assessments do not appear on your credit report
    Assessments are paid semi-annually along with your property taxes
    Assessments may be passed to subsequent property owners, if your buyer’s new lender agrees.
  • For financial reporting, these transactions would be treated the same as other assessments on your property.

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    The initial bond financing your improvements is held by the Pace Avenue financing partners, and there is no penalty while the financing partner holds the note. However, in order to continue to provide funding for Program growth, this investment will at some point be converted to long-term bonds. Bond purchasers generally require an early payment penalty/premium of up to 3%, based on current conditions. Please note that while you can pay your assessment off completely, Pace Avenue’s financing partners cannot accept partial prepayments.Because PACE Financing is through the sale of bonds, any early payoff would need to include interest due until the next semi-annual bond payment date, which under state law is either March 2 or September 2.

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    No. Emerging Federal guidelines for Property Assessed Clean Energy (PACE) programs such as SCEIP require that we consider the amount of debt on a property relative to the market value of the property. In order to be eligible for PACE Financing, the sum of all liens against the subject property cannot exceed 100% of the market value of the property. If your debt exceeds this limit, you may resubmit your application with a recent appraisal by a California licensed appraiser certifying a property value that will achieve the 100% limit calculation.The federal guidelines reflect the concern raised by mortgage lenders in this depressed real estate market. We regret that this restriction may prevent or delay some very worthwhile projects from obtaining PACE Financing, and we would encourage property owners to reapply when the real estate market recovers some of its value.

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    Yes. However, because taxes are calculated once a year on September 2, there will be a component of interest that will be added to your principal (“capitalized interest”). Capitalized interest is calculated from the day your payment is funded (the bond date) through September 1. Simple interest is then charged on this new principal amount for the duration of the assessment.

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    Yes, expenses for evaluations, audits, real estate appraisals and engineering are all recoverable.

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    Rebates or other incentives that are received at the time of project completion or shortly thereafter (by either the property owner or the contractor) so as to reduce the costs of a project at the outset will not be included in the financing amount. For example, if the total cost of solar project is $50,000 and the owner is entitled to an immediate rebate of $10,000, financing will be limited to $40,000. However, rebates that are contingent on performance or that are not available to the property owner at or shortly after completion of the project, so as to be available for use to pay for the project, do not affect the amount of PACE Financing.Tax credits that may eventually be available to a property owner and would vary based on applicable tax brackets are not taken into account in determining the PACE Financing amount.

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    Based upon the notarized signing of the assessment contract and implementation agreement, the lien is placed upon the conclusion of the contract rescission period (three business days).

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    This can be a complicated issue, but the short answer is generally no. Certain projects are exempt. Applicants are encouraged to call the Pace Avenue’s Office at (866) 722-3415 for clarification.

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    Yes, however you need to advise your lender of the assessment on the property, so that the proper amount can be set aside for both your taxes and the PACE assessment. It is a good idea to check with your lender before you apply for PACE Financing, as some mortgages might prohibit participation without your lender’s consent.

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    Failure to pay the PACE assessment would be just like failing to pay your property taxes. Penalties and interest charges would apply until the assessment is paid. The county would, ultimately, have the right to foreclose on your property.

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    Eligible Improvements Information

    Improvements must be permanently affixed to the property. In general, the type of improvements funded by PACE Financing would include:

  • High efficiency windows
    Solar and/or tankless water heaters
    Solar panels
    Upgraded wall and roof insulation
    “Smart” irrigation controllers
    High efficiency HVAC systems
    Cool roof
    Multiple improvements for deep energy savings
    Drought Tolerant Landscaping
  • Owners may also propose improvements that are not on the list as “custom” applications. These will be reviewed on a case-by-case basis, with the ultimate goal of increasing energy and water efficiency.

    None of these measures would typically cause an increase in property tax assessment of the property.

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    State law limits PACE Financing to energy and water efficiency improvements. Repairs and/or new construction outside the improvements do not qualify. Therefore, if certain repairs need to be done before, during, or after the improvement project takes place, you must bear the cost of those repairs outside of the PACE assessment.An example would be dry rot discovered during the installation of energy efficient windows. The cost of the new windows and their installation would be covered, but the repair of the dry rot would not. Program staff can assist in clarifying these types of issues.

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    Maybe. Our staff will need to review these kinds of issues on a case-by-case basis evaluating the age of building, framing, and wall materials such as the plaster, and existing insulation.

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    The program cannot finance the construction of the new addition. You may, however, apply for PACE Financing to cover the energy upgrade portion. You should obtain separate bids for the energy improvements and the new construction. Energy improvements eligible under the program could include solar for the entire structure, upgrades to windows and insulation in the existing structure, and system wide improvements to HVAC and water heating

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    Some local jurisdictions permit greywater systems. Please check with your local jurisdiction before applying. Your application would then be reviewed by Program staff to insure that it met other Program criteria (i.e., saves water).

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    Yes. However, financing is between the property owner and the Pace Avenue’s Financing Partners, not a third party such as a Power Purchase Agreement (PPA) company. In addition, the contract used by the PPA company must include certain PACE requirements and the company must be approved by Pace Avenue.

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    Pace Avenue and Your City

    No. The property-assessed clean energy (PACE) model is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. PACE programs allow local governments, state governments, or other inter-jurisdictional authorities, when authorized by state law, to fund the up-front cost of energy improvements on commercial and residential properties, which are paid back over time by the property owners.

    Pace Avenue is a home improvement lead generation company that educates homeowners on the benefits of the PACE program and clean energy improvements for their homes, then connects them with local contractors and financing partners to upgrade their homes.

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    No, Pace Avenue is operating in your city because the PACE program (separate from Pace Avenue) has been approved by your city. Pace Avenue educates homeowners about the benefits of this program and how they can use it to make clean energy improvements to their homes.

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    No. Pace Avenue can however set homeowners up with financing options through their various partners.

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    Yes. Our in-home sales consultants have all undergone background checks and are licensed (HIL with the CSLB). Pace Avenue itself, while not a lender, also carries various financial licenses and depending on location of operation carries city wide business licenses.

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    Even more questions? We've got answers.

    Feel free to give us a call at 866.722.3415