Charges are for a Property Assessed Clean Energy (PACE) program which enables homeowners to obtain long-term financing of privately owned improvements that increase energy efficiency or water conservation. PACE assessments are added to the owner's property tax bill allowing them to pay the assessments along with their property taxes over the period of time for which the financing has been negotiated. PACE assessments create a lien on the property which remains until the amount financed has been paid in full.
The California Statewide Communities Development Authority (CSCDA) is a statewide joint powers authority whose mission is to provide local governments access to low-cost financing for projects that provide tangible public benefit, contribute to social and economic growth, and improve the overall quality of life in local communities. Petros administers C-PACE projects in California through the CSCDA.
Programs within participating communities throughout the State of California to encourage investment in renewable energy sources and energy and water efficiency improvements.