Property Assessed Clean Energy (PACE) Financing
PACE programs are strictly voluntary and not sponsored or paid for by the City of Anaheim, Public Utilities. There is no affiliation between the City of Anaheim and the PACE providers listed below.
Anaheim Customers are advised to carefully evaluate any proposed provider and review all contractual assessment terms and conditions before participating in any PACE program. This is important since PACE loans are secured by a lien on your property and will likely increase your property tax bill. The City of Anaheim highly recommends that you consult a tax professional before entering into any PACE agreement since delinquent payments may result in foreclosure proceedings. The consumer obligation to repay voluntary contractual assessments created by the PACE program is sometimes misunderstood and may affect the consumer’s ability to refinance their loan or sell their property.
CONSUMER ALERT: Anaheim customers are encouraged to do their due diligence before hiring a contractor for a PACE funded project. It is recommended to obtain multiple quotes from contractors in order to help ensure you are choosing a reputable contractor with reasonable terms.State law gives you a three-day right to cancel your PACE assessment agreement. For details, please click on the following: [California Assembly Bill 2693]
Click on the property types in the tabs below for more information about the different Program Administrators.
Making residential real estate secured loans to consumers through PACE financing for home improvements has grown rapidly, raising questions as to whether the PACE program is adequately supported by government regulation. In order to provide protection for customers, the California State legislature passed Assembly Bill 2693(PACE Preservation and Consumer Protections Act) on September 25, 2016. The passage of this act promotes standardized disclosures and protections for consumers to ensure that customers understand their rights under the PACE program.
Recently Adopted Legislation:
AB 1284: Requires PACE program administrators to make a "good faith determination" whether the property owner has the ability to repay their loans based on income verifications.
SB 242: Requires PACE program administrators to call all property owners and ensure they understand all the key terms before authorizing any loans.
Consumer Protection Policies by program:
- California Municipal Finance Authority (CMFA)
- California Statewide Communities Development Authority (CSCDA)