San Clemente residents and business owners are now eligible to finance energy efficient property improvement projects through the Property Assessed Clean Energy (PACE) financing program. The advantages of PACE financing include no money down, no minimum credit score, no credit applications, and repayment terms between 5 and 20 years. The loan cost plus interest is re-paid over time through the property tax bill. In most cases, when a property is sold the PACE assessment remains with the property and is transferred to the new owner.
Three PACE programs operating in California were authorized by City Council to be available to San Clemente residential and commercial property owners. The programs are:
For more information on the PACE program, click here.