NASEO's Financing Committee members learned about and discussed program strategies for Property Assessed Clean Energy (PACE) financing in the single-family residential market. The call featured two major program models in operation, including senior-lien PACE financing in California (where the residential PACE market has surpassed $1 billion) and junior-lien PACE financing in Vermont. It also covered other efforts in single family PACE, including the U.S. Department of Housing and Urban Development's (HUD's) August 2015 announcement, "Unlocking Residential PACE Financing," which launched federal efforts to develop guidance for the use of Federal Housing Administration (FHA) financing on homes with PACE liens.  NASEO reviewed their comment letter to HUD Secretary Castro in response to the announcement.

Agenda and Presentations:

1 - Welcome and Announcements (NASEO Financing Committee Co-Chairs)

• Jeff Pitkin, Treasurer, NYSERDA
• Al Christopher, Energy Division Director, Virginia Department of Mines, Minerals, and Energy

2 - NASEO Financing Committee Updates (Sandy Fazeli, Senior Program Director, NASEO)

3 - Residential PACE Overview and Program Models - Click to View Presentation

• Cisco DeVries, Chief Executive Officer, Renew Financial  
• Peter Adamczyk, Principal Consultant, Vermont Energy Investment Corporation

4 - Q&A and Committee Discussion

Attendees

States: Alabama, Colorado, District of Columbia, Florida, Hawaii, Illinois, Louisiana, Iowa, Maine, Michigan, Minnesota, Missouri, Nebraska, Nevada, New York, North Dakota, Tennessee, Virginia, West Virginia 

NASEO Affiliates: Bosch, Cadmus, Harcourt Brown and Carey, Vermont Energy Investment Corporation

Other Attendees: ACEEE, Energy Programs Consortium, Renew Financial, U.S. Department of Energy