DC PACE Contractor, greeNEWit, Partners with Urban Ingenuity to Promote Innovative Energy Financing
Two local firms are helping move building retrofit and clean energy infrastructure projects off of the drawing board and into development by cutting costs, enhancing financial performance, and funding capital improvement.
- (1888PressRelease) May 19, 2016 - greeNEWit, the national leader in sustainable community development and smart grid integration, is partnering with Urban Ingenuity to provide innovative solutions to develop and finance advanced energy projects, building retrofits, and state of the art clean energy infrastructure.
greeNEWit joined PACE to help commercial asset teams gain access to flexible and advantageous financing terms for capital improvements relating to energy and water. With the support of Urban Ingenuity, greeNEWit can manage energy retrofit projects through the PACE program to improve cash flow scenarios and increase net operating income.
DC PACE is available to provide 100% financing for energy and water-saving upgrades, at affordable long-term fixed interest rates, for properties within the District of Columbia. DC PACE helps developers, owners, and managers maximize project financial performance by investing in renewable energy, energy efficiency, and water conservation.
PACE financing offers many benefits over conventional financing, including:
100% financing for project costs, including soft costs like energy audits and engineering
Utility savings that exceed monthly debt-service payments to improve cash flows and net operating income on day one.
Enhanced asset value through improved cash flows and more efficient operations
Up to 20 year amortization at fixed rates, to enable deeper retrofits and reduce monthly costs for building owners
Repayment through a tax assessment that transfers with the property title and is not tied to the borrower
Simpler and more transparent projects through comprehensive energy modeling and independent engineering validation to ensure that energy savings are realized
To learn more about at how you can get involved with the efforts of Urban Ingenuity and PACE, visit http://www.urbaningenuity.com. To learn more about how you can greeNEWit, call 866.994.7639.
About Urban Ingenuity
Urban Ingenuity is the program administrator for the Washington DC PACE program, and is the Montgomery County C-PACE program's designated partner to provide technical support and financial structuring services for "CivicPACE" projects that fund energy upgrades for non-profit owners and community-based facilities. With special expertise in Property Assessed Clean Energy (PACE) financing and other tools of public and private financing, Urban Ingenuity brings new capital resources to support deep energy efficiency retrofits of commercial and multi-family buildings, and to support project development of clean-energy micro-grids, co-generation facilities, and solar installations.
About greeNEWit
greeNEWit's mission is to develop real estate that produces power and grows food. Our belief is that this will make communities more resilient, sustainable, and economically prosperous. By working with residential, multifamily, and commercial real estate, greeNEWit has an expansive perspective on how end energy consumers understand, interact, and engage with their energy profile. With clients that include some of the most successful developers and managers of student, military, and multi-family housing, greeNEWit is a tech-enabled service business in the growing clean-tech space. Headquartered in Columbia, Maryland, greeNEWit is expanding nationwide. For more information, visit: greeNEWit.com.
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