Sonoma PACE (SCEIP)
Special financing if you live in Sonoma county
Simply Put
- Low interest rate loan (so far at 7% amortized over 20 years) from the City attached to your property that resides within that city's limits and to be paid every six months through / along with your County property tax payment;
- Earmarked ONLY for and covers MOST energy efficiencies and renewable energies available to the public;
- Requires NO credit check and can pass to new owners of property without future credit checks through title transfer at escrow.
More Specifically
With the passage of AB 811, residents of Sonoma County are among the first in the nation to be able to finance the installation of energy efficiency improvements and distributed generation, renewable energy sources that are permanently fixed to real property within the County with low interest loans which can be repaid in up to 20 years on property taxes.
AB 811 - What's in it for you?
- You, as the owner of residential or commercial real property, immediately enjoy a greatly reduced electric bill with no out-of-pocket expense to you;
- If you sell your home or business, the new buyer can assume the payments, as you benefit from the increased equity at sale;
- Loans have a minimum of $5,000 and no maximum limits;
- Loans are not subject to credit ratings or credit checks;
- The interest rate is fixed at or near 7% and paid bi-annually through your property tax;
- Loans can be used on a variety of energy-efficiency improvements and the materials and labor required to install them properly:
Efficiencies now include Renewable Energy sources now include - air conditioning and ventilation systems
- pool pumps
- energy efficient windows, doors and skylights
- window films
- tankless water heating equipment
- white -roofs and coatings
- natural gas fuel cells, solar systems
AB 811 - Six Step Method for Sonoma County Residents using Recurve
- You decide what type of efficiency improvement you would like to add to your home and make sure that you do not have any current liens that will not allow you to subordinate the AB 811 lien;
- Download and fill in the SCEIP application. (Recurve will help you do this.)
- Once your application is approved, Recurve will do the work and pull all necessary permits from the local building department.
- You sign your assessment contract and submit it with notarized signatures from all owners of the property plus a copy of the building permit requested in step 3.
- We perform the work and makes sure it gets sign-off from your local building inspector.
- You submit your final documentation (finalized permit; invoices showing all costs, less rebate amounts) to SCEIP. Checks will be mailed on the first day of each month, but your final documentation must be filed with SCEIP five days before the end of the month for processing.
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