Monthly Archives: January 2013

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By Mahesh Shah
CEO, FIGTREE Energy Financing

An exciting new financing tool is now available to San Diego’s commercial and multi-family residential property owners. While it involves no public monies, this tool was inspired by local government – specifically, the Mayor and San Diego City Council.

Late last year, the City unanimously authorized San Diego-based FIGTREE PACE to begin accepting applications to provide its unique brand of PACE financing to commercial property owners.

PACE (Property Assessed Clean Energy) is a municipal funding mechanism that provides 100% up-front financing for property owners to improve their assets and realize the money-saving benefits of energy efficiency, renewable energy and water conservation upgrades utilizing no public dollars. What a concept!
PACE requires no minimum FICO score and no money down. Financing is based strictly on assessed property values – usually 10%; sometimes more. PACE provides for potential attractive off balance sheet financing that can be amortized for periods of up to 20 years via property tax bills. And it’s transferrable to subsequent property owners.

FIGTREE PACE provides contractors with a financing option to help clients invest in energy-related building improvements without adversely impacting their credit scores, net worth or borrowing capacity.

Eligible PACE improvements include solar PV and solar hot water systems HVAC, fuel cells, cool roofs, boilers, chillers, elevator upgrades, energy management systems, electric vehicle charging stations, water conservation, xeriscaping and more. FIGTREE finances projects ranging from $5000 to those in the millions of dollars (contingent upon qualified property values).


October 31, 2012 by Cheryl Getuiza

Earlier this year, San Diego was crowned California’s number one solar city. Now, the Southern California city can claim another top spot. It’s the first municipality to introduce multiple Property Assessed Clean Energy (PACE) options. It’s a win-win situation–for the city, it pumps energy back into the economy; for the property owners—it’s a money saver.

San Diego recently adopted a second commercial PACE provider, San Diego based FIGTREE Energy Financing.

“PACE is an economic development tool that empowers local property owners to improve property values, stimulate cash-flow, create local jobs and reduce emissions using no public dollars,” said San Diego mayor Jerry Sanders. “Our role is to maximize financing options for property owners and to create a robust, competitive marketplace to drive innovation and help reduce capital costs.”

PACE is a municipal funding tool that provides commercial and residential property owners with 100 percent up front, long term financing to improve their properties with cost-cutting energy efficiency, renewable energy and water conservation upgrades.
“We’ve seen time and again how competition drives marketplace excellence in San Diego,” said city councilman Carl DeMaio. “Adding FIGTREE to the city’s mix of PACE providers helps San Diego’s small business community by dropping the minimum project size from $50,000 to $5,000. This puts sustainable, property-improving energy and water upgrades within reach of most any property owner.”

San Diego’s rising real estate prices bode well for Property Assessed Clean Energy (PACE) financing in 2013. New program launched to help commercial property owners improve property values, slash utility bills and create local jobs.

San Diego commercial property owners are gaining access to a unique financing option for money-saving renewable energy, energy efficiency and water conservation improvements this new year that can create positive cash flow from month one. It’s available through an innovativeProperty Assessed Clean Energy (PACE) program known as FIGTREE, now being offered by the City of San Diego.

“Applications are being accepted to provide commercial property owners with 100% up-front, long-term financing for energy and water efficiency building upgrades and renewable energy systems that can reduce operating costs, improve property values and provide a valuable hedge against rising energy costs for decades to come,” said FIGTREE CEO Mahesh Shah.

FIGTREE arranges financing (and mortgage lender consent) for property owners by aggregating and selling the projects as municipal bonds. FIGTREE – now operating in 25 jurisdictions — was the first in California to successfully initiate this new mode of financing in multiple markets. No public monies are used to support these programs.
FIGTREE finances projects ranging from $5000 to those in the millions of dollars (all contingent upon qualified property values). The next bond issue is slated for the first quarter of this year.