Commercial properties in South Lake Tahoe have a new program they can access to improve the energy and water efficiency of their property through a Clean Energy Program.
Property Assessed Clean Energy (PACE) financing model allows property owners to borrow money, usually on a 20-year term, and repay it with a special property tax assessment that won’t require a cash down payment or inhibit the businesses ability to borrow money for operations in the future.
The City of South Lake Tahoe Councilmembers approved the Property Assessed Clean Energy program in June and is partnering with Figtree Financial, a San Diego-based firm that will market the program and offer private funding to pay for the property improvements.
What is Figtree OnDemandPACE™ Financing?
Property Assessed Clean Energy (PACE) Financing allows up to 20% of a property’s value to be financed for energy efficiency, renewable energy, or water conservation upgrades. The financing creates an assessment lien on the property and is repaid as semi-annual installments on the property tax bill.
• No money required upfront: preserve cash for future projects
• Fixed low interest rates: payments are constant for the life the lien
• Long term financing: up to 20 years based on the useful life of the improvement
• Qualifying based on property: no business credit or personal guarantee required
• Get tax incentives and rebates: property owner owns the equipment and keeps incentives
Property owners can look up their property and find out if they qualify by going online to www.figtreefinancing.com or by contacting Ryan Ahearn, Figtree Financing, VP of Marketing,
(858) 771-0896 or email@example.com.