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Annie Hendersen - Renewable Fund
 

Annie Hendersen - Renewable Fund

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    Annie Hendersen - Renewable Fund Annie Hendersen - Renewable Fund Presentation Transcript

    • CaliforniaFIRST Annie Henderson| April 16, 2010
    • CaliforniaFIRST: Pilot Partners • 14 Counties • CSCDA • Sacramento SEP Pilot Local Agencies Program • 130 Cities • Royal Bank County of Canada • Ecology • CCSE • Jones Hall Action and Orrick • Renewable • Renewable Funding Funding
    • CaliforniaFIRST Pilot – Alameda – San Luis Obispo – Fresno – San Mateo – Kern – Santa Clara – Monterey – Santa Cruz – Sacramento – Solano – San Benito – Ventura – San Diego – Yolo
    • CaliforniaFIRST in SD County Unincorporated County La Mesa Carlsbad Lemon Grove Chula Vista Oceanside Coronado Poway Del Mar Santee Encinitas Solana Beach Escondido * City of San Diego will have a stand-alone PACE program
    • CaliforniaFIRST: Overview City /County $$ Upfront “opts-in” • Creates financing • Identifies work & district chooses contractor • Provides complete $$ Repaid • Applies for financing admin on tax bill • Repays financing on • Provides upfront capital property tax bill through bond sales • Repayment obligation transfers with ownership
    • Key Benefits for Cities & Counties Helps meet Tax neutral and Promotes energy and no exposure to local jobs climate goals General Fund
    • 124 jobs created with $10 million investment
    • Potential Program Reach
    • Contractor Qualifications Standard – Appropriate State license – Participation in State rebate programs – Agreement to Code of Ethics – Compliance with CEC HERSII requirement (as available and applicable) Under Development – Energy Efficiency certification requirement will be dependent on State standards currently under development by HERCC, WHPP, Home Star, etc.
    • Integration of Programs Home Star Whole House Residential Performance Retrofit Program Program CaliforniaFIRST
    • Main Points Loading Order – 10% EE improvement required prior to financing for on-site renewable generation (does not include SWH) – Emerging EE rebate program may increase requirement to 20% – Multiple pathways to meet loading order Residential properties – Specific underwriting criteria Commercial properties – Process under development Financing available to RE and EE projects – Water efficiency to follow
    • Participation Pathways Homeowner Based on BPI, Rebate Basic Performance HERSII, Package Audit Requirements Equivalent Other EE PV Measures
    • Property Qualification Property • All property owners must sign and agree to terms Ownership • Mortgage lender must at minimum be notified • Current on property taxes for the last 3 years Property- • Cannot have any involuntary liens > $500 Based Debt • Cannot have any mortgage defaults or foreclosure filings within the last 5 years Underwriting • Project to Value ratio is 10:1 Ratios • Private loan to value ratio must be at least 80%
    • CaliforniaFIRST.org
    • Annie Henderson| annie@renewfund.com | (510) 451-7911 www.CaliforniaFIRST.org