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WRCOG Executive Committee approves PACE Loan Group as commercial PACE administrator
Summary
The Western Riverside Council of Governments voted to adopt Resolution No. 2525 to authorize PACE Loan Group to operate within WRCOG's commercial PACE program after staff presented the firm's track record, capitalization and proposed protections for WRCOG and borrowers.
The Western Riverside Council of Governments Executive Committee voted to adopt Resolution No. 2525 to authorize PACE Loan Group (PLG) to join WRCOG's commercial Property Assessed Clean Energy (PACE) program.
Casey Daley, WRCOG director of energy and environmental programs, told the committee PLG — founded in 2017 and based in Minneapolis, Minnesota — has an existing administrative relationship with the California Statewide Communities Development Authority (CSCDA) and operates in multiple states. Daley said PLG has a staff of about 30, a California presence, and is capitalized by AllianceBernstein.
Daley said the…
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