Powered by. RenewPACE in Florida SEPTEMBER Devesh Nirmul CEM LEED AP O+M CSDP / Senior Director

Transcription

1 Powered by RenewPACE in Florida Devesh Nirmul CEM LEED AP O+M CSDP / Senior Director SEPTEMBER 2016

2 RENEW FINANCIAL IS A CLEAN ENERGY COMPANY WITH GROWING NATIONAL PRESENCE AND MULTI-PRODUCT PLATFORM Operations Offices 32,000 PROJECTS Complete to Date 7,000 CONTRACTORS in Our Network $650M IN FINANCINGS to Date 7300 ASSESSMENTS to Date $186M ASSESSMENTS to Date 100,000 APPLICATIONS Processed 2

3 RenewPACE FLORIDA CURRENT JURISDICTIONS OPT-INS TO DATE ALACHUA o Unincorporated County o Alachua o Archer o Gainesville o Hawthorne o High Springs o La Crosse o Micanopy o Newberry o Waldo Escambia ESCAMBIA o Unincorporated County INDIAN RIVER o Fellsmere o Sebastian Alachua BREVARD o Satellite Beach MIAMI-DADE o Doral BROWARD o Coconut Creek o Cooper City o Dania Beach o Davie o Hillsboro Beach o Hollywood o Lauderdale by the Sea o Lighthouse Point o Margate o Miramar o North Lauderdale o Oakland Park o Parkland o Pembroke Pines o Plantation o Pompano Beach o Sunrise o Tamarac o Weston o Wilton Manors o Unincorporated County MARTIN o Unincorporated County o Stuart ORANGE o Orlando PALM BEACH o Boynton Beach o Delray Beach o Lake Worth o Lantana o Mangonia Park o North Palm Beach o Tequesta o West Palm Beach PASCO o Unincorporated County PINELLAS o Gulfport Pinellas Full county participation in RenewPACE Pasco Partial county participation in RenewPACE In Negotiation Orange Brevard Indian River Martin Palm Beach Broward 3

4 WE HANDLE ALL PACE PROGRAM ELEMENTS, MAKING IT EASY FOR LOCAL GOVERNMENTS TO OPT IN AND FOR SPONSORS TO MANAGE MARKETING AND SALES LOCAL GOVERNMENT Regular Updates Quarterly Consumers Contractors Reporting POST FUNDING SUPPORT No cost Call center Property underwriting Project validation Document management Funding Recruitment Training and tools Inspections and questions Bond counsel Trustee Special tax CONTRACTOR MANAGEMENT Prepayments Subordination Payment BOND ISSUANCE ORIGINATION No liability compliance CAPITAL Private placement of bonds administrator 4

5 RENEWPACE PROGRAMMATIC ELEMENTS Government Execution Levy & Collection Board Operation Pass Resolution authorizing execution of Party Membership Agreement. Execute agreements with Property and Tax Collector or joint Agreement with Property Appraiser and Tax Collector. Authority is run as open and transparent Board with a minimum of quarterly meetings based on an adopted annual budget. Execution of Party Membership Agreement committing to terms and conditions in the Interlocal Agreement. Prepare roll, amendments and manage assessment development by appropriate deadlines. 7 Member Board (constituted from two Originating Parties, Lantana and Mangonia Park + 5 Members one from each region with boundaries of the state s water management districts). Queue of Board rotation is maintained by Authority. Adopt and notice Uniform Collection Agreement (already completed for Miami Dade County). Anyone can attend meetings including the public and Parties to the Interlocal Agreement as all meetings are held pursuant to Chapter 286, F.S. Board adopts updates to policies and procedures of the Florida Green Finance Authority and complies with all state auditing requirements. 5

6 RENEWPACE FLORIDA LAUNCH TIMELINE September 29, 2015: Renew Financial announces acquisition of EcoCity Partners. October 15, 2015: FL Supreme Court dismissed challenge by Florida Bankers Association to the State s PACE law. 2016: RenewPACE for commercial properties. June 9 th : FGFA Board to formally adopt consumer protections July 2016 Beta Launch: RenewPACE for residential properties September 8, 2016: Official RenewPACE FL Launch Progress to Date: ~$4 Million in Applications for energy efficiency, renewable energy and wind mitigation measures 6

7 SIMPLE, FAST, AND TRANSPARENT PROCESS CONTRACTOR Easily Integrate Financing Information into Proposals Close the Sale in One Visit Complete Energy Upgrades APPLY SIGN INSTALL CONSUMER Sign Up Online or via Phone, Receive Instant Approval Complete Financing Documents Electronically Support for Questions, Information, or Issues RECEIVE EFT Payment Based Upon Completion REPAY Payment via Property Taxes or Loan Servicing 7

8 CONSUMER PROTECTIONS CRITICAL FOR PACE TO BE EFFECTIVE RenewPACE Protections Single purpose financing product requirements: minimum performance and terms that correlate with useful life of equipment Contractor requirements: licensed, insured, BBB rating of >B, 3 or more years in business Fair pricing requirements Permit requirements Funding only provided after homeowner signs off Dispute resolution Senior protections (65+) 8

9 GOVERNMENT REPORT SNAPSHOT: CONTRA COSTA COUNTY, CA 9

10 Thank You