Saturday, July 17, 2010

Start PACE Financing Now for Energy Independence

Borrowing money or taking debt is generally not a good idea. Our taxes are high so most Municipalities should not add to their current debt. However, it makes all the sense to start Property Assessed Clean Energy (PACE) program to seed economic development. Local tax payers and businesses can borrow funds against their property to make energy efficiency improvements or generate green power. The low interest loans are paid back from the energy savings and will never run out. It will continue to seed many green projects, save the tax payers money and reduce our energy demand.
In New York State this legislation is now in effect. We should take advantage of PACE to stimulate the slow economy.


At 6:33 PM, Anonymous buy meyer lemons said...

PACE would increase the resale value of buildings. Green building sales prices are $171 per square foot higher than non-green buildings. “According to a recent study by CoStar, green buildings that are certified under the LEED rating system …are sold for higher sales prices. …LEED certified buildings command sales prices of $171 per square foot more than the sales prices for buildings that are not LEED certified.” (Julie Stamato, Senior Attorney, “Building Green: A Win-Win for All,” Theodora Oringher Miller and Richman PC)

It is 2010. The clock is ticking. The world has only 4 1/2 years to start reducing the annual buildup in greenhouse gas emissions that otherwise threatens global catastrophe within several decades.
Greenhouse gas emissions have to be stabilized by 2015. The earth is warming more rapidly than previously predicted. The U.S. is way behind schedule on this. Perhaps Fannie Mae's CEO Michael Williams, Freddie Mac's CEO Charles Haldeman and FHFA's Edward DeMarco should take a look at

For those of you who have an opinion and who would like to share your sentiment about the PACE decision, you can reach these key decision-makers at:

Charles Haldeman Jr.
Freddie Mac
8200 Jones Branch Dr.
McLean, VA 22102-3110
Toll Free: 800-424-5401
703-903-2000 Fax: 703-903-4045

Michael Williams
Fannie Mae
3900 Wisconsin Ave. NW
Washington, DC 20016-2892
Toll Free: 800-732-6643

Edward DeMarco
Acting Director
Federal Housing Finance Agency (FHFA)
1700 G Street, NW 4th Floor
Washington, DC 20552

Or you can write to:

Senate Committee on Environment and Public Works
410 Dirksen Senate Office Bldg.
Washington, DC 20510-6175

Select Committee on Energy Independence and Global Warming
B243 Longworth House Office Building
Washington, DC 20515
Fax: 202-225-4092


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