VA PACE Authority Designated Program Administrator of Loudon County

Loudoun County, Virginia has hired the Virginia PACE Authority and PACE Financial Servicing to administer its newly minted Commercial Property Assessed Clean Energy (C-PACE) program. VPA is a local, non-profit administrator of C-PACE program in VA.
 
 
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* Pace

Industry:
* Finance

Location:
* Leesburg - Virginia - US

LEESBURG, Va. - July 10, 2019 - PRLog -- Loudoun County has become the second jurisdiction in the Commonwealth of Virginia to launch a C-PACE program through the passage of a C-PACE enabling ordinance and selection of a program administrator. The first jurisdiction to do so was Arlington County. The Loudoun County Board of Supervisors approved its enabling ordinance on February 21, 2019 (codified in Chapter 825 (http://library.amlegal.com/nxt/gateway.dll/Virginia/loudounco_va/codifiedordinancesofthecountyofloudounvi?f=templates$fn=default.htm$3.0$vid=amlegal:loudounco_va) of the Loudoun County Code). The County issued RFQ 74773 (https://www.loudoun.gov/bids.aspx?bidID=572) to procure a third-party program administrator, to which the Virginia PACE Authority responded and was subsequently selected in the Notice of Award (https://www.loudoun.gov/DocumentCenter/View/152167/Notice-of-Award-PDF?bidId=572) on June 27th, 2019.

The Virginia PACE Authority (VPA) is a new organization that provides Commercial PACE (C-PACE) program administration services for Virginia cities and counties. VPA is operating as a non-profit committed to implementing a low-cost, open market C-PACE program that incorporates industry best practices. VPA developed the Virginia PACE Program ("VA-PACE") as a cost-effective, streamlined alternative for financing energy efficiency measures and renewable energy technologies. Abby Johnson is the Executive Director of VPA. She is recognized nationally as a C-PACE expert and has worked since 2014 to implement C-PACE in Virginia. Abby was instrumental in getting C-PACE legislation passed in Virginia in 2015 and 2019. VPA is supported by their Board of C-PACE experts from the lending, legal and energy contracting fields.

PACE Financial Servicing (PFS) supports Ms. Johnson's efforts in Virginia through the Virginia PACE Authority.  PFS designs, implements, and administers C-PACE programs throughout the country. Its mission is to support governments in the creation of open, standardized, low-cost C-PACE markets designed to drive private sector C-PACE investment and scale. The core value at PFS is to structure each C-PACE program in a manner that scales energy efficiency and clean energy while fulfilling the unique needs of each jurisdiction. Fulfilling the needs of each jurisdiction often requires collaboration with local partners. PFS recognizes VPA's unique position as a non-profit administrator dedicated to Virginia's needs and is aligned with VPA's values in program design and administration.

PFS has worked with Ms. Johnson for many years in the C-PACE industry, as well as through the Mid-Atlantic PACE Alliance (https://pacealliance.org/)(MAPA). MAPA is a partnership between stakeholders in Virginia, Maryland, and the District of Columbia to accelerate the implementation of C-PACE programs and projects in the region. PFS is eager to develop further the relationship with VPA that was first nurtured through MAPA.

In accordance with the terms of their proposal to administer the Loudoun County C-PACE Program, VPA is the lead contractor and PFS will support its efforts in marketing and developing the program.

Contact
Pace Financial Servicing
Jessa Coleman, Programs Manager
***@paceservicing.com
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Tags:Pace
Industry:Finance
Location:Leesburg - Virginia - United States
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