AllianceNRG Program FAQ
The AllianceNRG Program provides up to 100% financing for energy efficiency and renewable energy products for property owners.
Unlike loans, the AllianceNRG Program financing can include all the soft costs of construction such as permits, inspections, and some warranty and maintenance contracts. The AllianceNRG Program has low fixed interest rates and terms that match the useful life of the product or improvement for up to 30 years. Repayments are made through your property taxes and in case the property is sold, the remaining assessment can be passed to the new property owner as the Program does not require repayment.
The AllianceNRG Program financing is repaid through your property tax bill and collected in the same manner as your regular property taxes. You will see an additional line item on your property tax bill for your scheduled payment. If you have your taxes escrowed by your mortgage lender, the bank will adjust your monthly payment to include the amount due for the AllianceNRG financing.
- All mortgage related debt plus the AllianceNRG financing may not exceed 100% of the value of the property.
- The Property Owner must be current on their mortgage at the time of the application without any delinquencies of more than 30 days in the past 12 months or since the property owner acquired the property, whichever is shorter.
- The Property taxes must be current with no more than one late payment or tax lien over the past 3 years in California and no delinquencies in Florida.
- The Property must not be subject to outstanding involuntary liens such mechanics or municipal nuisance liens.
- The Property owner must not have declared bankruptcy in the last 7 years and must not be subject to an active bankruptcy.
This financing is not a loan. It is a property assessment and repayments are made through the property tax bill. PACE is a public private partnership to help property owners and to improve our environment.
Unlike construction loans, AllianceNRG financing offers 100% of the cost of the improvement including development soft costs, permits, inspections, the cost of the product, installation and other approved ancillary costs. AllianceNRG Program offers low fixed interest rates and financing terms up to 30 years.
AllianceNRG Program eligible contractors must meet the following Minimum Requirements:
- Possess all valid licenses, certifications and registrations (federal, state, and local) legally required to make the Qualifying Improvement(s);
- License must be active and not on probationary status;
- Maintain the appropriate insurance coverage for work to be performed;
- Satisfy workers' compensation requirements; and
- Satisfy other federal, state and local requirements associated with the Qualifying Improvement(s).
In addition, specialized improvements such as solar installation, flood mitigation or seismic retrofits may require additional certifications, licenses or training.
Please look under contractor enrollment for registration forms or contact us for further information on how to become registered and eligible for the AllianceNRG Program.
Commercial and multifamily professionals must register separately through CounterpointeSRE.com
PACE provides an innovative solutions for capital improvements.
Assessment may qualify as an operating expense thereby preserving capital and credit lines for investment. PACE enhances property value without ROI limitations.
Energy projects can deliver net positve annual cash flows to owners or tenants in first year after project completion. Projects with a savings to investment ratio greater than one are cash flow positive.
Optimized building cap stack with potential for off-balance sheet treatment. PACE improves cash flows of the property through utility savings and lower capital costs than both equity and mezzanine debt.
No acceleration clauses
Counterpointe Sustainable Real Estate offers a suite of green energy financing products with PACE as a cost effective source of capital.
Please call 855 431-4400 or visit www.CounterpointeSRE.com for more information.
The Program is not limited to the soft story portion of your building. All other PACE eligible improvements such as energy efficiency improvements, fire code retrofits and ADU accessory dwelling units may be included in the financing.
Visit www. CounterpointeSRE.com for more information on the seismic program.
The Program will finance 100% of the seismic retrofit project and all related work, not just the structural steel or other hardening measure but all related work for the design. For example, if an electrical panel must be moved in order to properly locate a steel beam, the entire cost of the electrical work and new materials would be covered.
The Program can be used to finance owner association seismic and energy retrofits. Owners of seismic units may submit individual applications and minimum assessment requirement may be fulfilled by aggregating applications from the building. For energy or other common area retrofits, please have a representative of the owner's association contact the program for more information.
The Program will need some additional information to determine eligibility. The online application is a contact form that allows our representatives to contact you to provide more information about PACE financing and the CounterpointeSRE program.
The interest rates for the Program are competitive and fixed rates that fluctuate with market conditions. Please contact Program for more information.
Unlike other construction loans, the AllianceNRG Program finances up to 100% of the risk mitigation retrofit including development and soft costs, the cost of the product installations and other approved ancillary costs. The AllianceNRG Program offers low-fixed interest rates and financing terms up to 30 years for Flood and Wind Mitigation Retrofits. Repayments are made through your property taxes and in case the property is sold, the remaining assessment can be passed to the new property owner.
Alliance NRG can provide 100% financing on all types of wind resistance improvements, including, but not limited to:
- Strengthening the roof deck attachment;
- Installing storm shutters; or
- Reinforcing roof-to-wall connections.
The AllianceNRG Program was formed by local governments for local governments with the special purpose to provide long-term financing for structural improvements that encourage renewable generation, energy efficiency and disaster resilience (wind, flood and seismic resiliency upgrades are available in certain areas or pending legislation). The AllianceNRG Program is an independent funding source, and any municipality may subscribe by resolution or ordinance to make this financing opportunity available for its community.