Law360, New York (December 6, 2011, 1:09 PM EST) -- Property Assessed Clean Energy (PACE) legislation has been enacted in 27 states and the District of Columbia and will offer significant opportunities for owners of commercial facilities (e.g., office, retail, and industrial) (owners), PACE lenders and bondholders (program lenders), Energy Service Companies (ESCOs), existing property lenders (banks) and third-party administrators (TPAs) to benefit from a tax lien financing program that provides a business owner the ability to install energy retrofit equipment and components that could possibly create cash flow from day one and allow the owner to pay for the retrofit as part of the property tax bill. You can view a general model for PACE programs in Florida created by the combination of the state statute[1] and local ordinances here....
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