Are you interested in installing solar on your roof, improving the energy efficiency and comfort of your home, or converting your yard from water-intensive lawn to an attractive drought resistant alternative design – but you aren’t sure how to pay for it? If you own a home in Contra Costa County, you can help make sure that you and your neighbors are able to take advantage of a program called CaliforniaFIRST PACE Financing. This program finances these kinds of improvements with no upfront cash and repayment terms up to 25 years.
Lafayette, Martinez, Oakley, San Pablo, and Walnut Creek have already chosen to opt-in to the CaliforniaFIRST program. Unincorporated County areas and the City Councils of Antioch, Brentwood, Orinda, Richmond, and San Ramon will be deciding on opting-in in the next few months. The rest of the cities still need to put the item on their City Council Agendas. Let them know you want CaliforniaFIRST in your community!
Click here for a 1 1/2 minute video that describes CaliforniaFIRST's PACE Financing opportunity.
PACE stands for Property Assessed Clean Energy. One of the unique aspects of PACE financing is that it provides the homeowner the ability to transfer the repayment obligations to a new owner if she sells the property before the repayment term is up – because the financing is attached to the property and repaid through the annual property tax bill.
These kinds of investments are one of those terrific multi-win opportunities. They make living in a home more comfortable, improve a property’s value, lower energy and water bills, employ local workers to install the improvements, and conserve natural resources. What’s not to like?
Interest rates for residential projects range from 6.75% for a 5 year term, 7.59% for 10 years, 7.99% for 15 years, 8.29% for 20 years, and 8.39% for a 25 year term. The interest portion of each annual payment is tax deductible for most homeowners (consult with your family's tax preparer).
If you’re a homeowner in one of the program’s eligible jurisdictions, and if your residential project gets approved for financing by the end of 2014, you will receive a no-strings-attached cash rebate up to $1,000.
To find out if your home or business is in an eligible area, to find a CaliforniaFIRST certified contractor, or just to learn more about the CaliforniaFIRST program, go to www.CaliforniaFIRST.org, or call (844) 589-7953.
To urge your city to join CaliforniaFIRST, please send a message to your City Manager. Here are the dates of the upcoming city council meetings, with links that will take you to the email address of each city's City Manager:
Antioch - December 16 - City Manager: Steven Duran
Brentwood - December 9 - City Manager: Steve Solomon
Orinda - December 15 - City Manager: Janet Keeter
Richmond - December 16 - City Manager: William Lindsay
San Ramon - January 13 - City Manager: Greg Rogers
And here are links to email addresses of City Managers in cities that have not yet placed the item on their Council Agendas:
Concord - City Manager: Valeria Barone
Danville - City Manager: Joe Calabrigo
El Cerrito - City Manager: Scott Hanin
Hercules - City Manager: David Biggs
Moraga - City Manager: Jill Keimach
Pinole - City Manager: Belinda Espinosa
Pleasant Hill - City Manager: June Catalano
Unincorporated Contra Costa County - County Administrator: David Twa
If you have any questions, please feel free to send me a personal message by clicking on my name below.
Thank you for your support!!