OAKLAND, Calif., May 5, 2020 /PRNewswire-PRWeb/ -- PACENation, the nonprofit organization that advocates for expanded access to PACE financing, announced today the election of 22 new leaders to its board of directors, including many industry pioneers with backgrounds in public policy, program administration, community resilience, and clean energy finance.
"It's an honor to welcome these leaders to PACENation's board of directors," said PACENation's Executive Director Colin Bishopp, "especially at a time when we need all hands on deck to help revitalize local economies. In every community where PACE is available, PACE financing has proved to be an extraordinary policy tool for driving economic growth. PACE creates local jobs and makes our homes and businesses safer, healthier, and more energy-efficient."
PACENation also released today a two page factsheet that details some of the major milestones PACE achieved over the past year. Commercial PACE (C-PACE) surpassed $1.5 billion in cumulative investment and reached $670 million in annual investment. This marks a 150% increase for C-PACE over the previous year. Residential PACE, meanwhile, surpassed $6 billion in cumulative investment and surpassed $650 million in cumulative investment for hurricane resiliency and seismic strengthening.
"One of the core benefits of PACE financing is the economic value it creates for both property owners and communities," said Dee Martir, Sr. Director of OHIO PACE. "PACE can play a central role in our nation's economic recovery from COVID-19 as property owners and developers look for creative strategies to guard the financial health of their projects. PACE spurs private investment, helps property owners to expand cash reserves, and creates local jobs. The C-PACE market is just getting started. We look forward to continued growth in the months and years to come."
PACENation is pleased to welcome these distinguished leaders to its board: Eric Alini, Managing Partner of Counterpointe Energy Partners; Carolyn Berndt, Legislative Director for Sustainability at the National League of Cities; Laura L. Bilas, Partner at Foley and Lardner LLP; Roger L. Davis, Partner at Orrick, Herrington & Sutcliffe LLP; Rocco Fabiano; Peter Grabell, Senior Vice President of Commercial PACE at Dividend Finance; Lain Gutierrez, CEO of CleanFund Commercial PACE Capital, Inc.; James Hamill, Managing Director for CSCDA; Abby Johnson, Executive Director of the Virginia PACE Authority; Mike Lemyre, Senior Vice President at Ygrene Energy Fund; Stephanie Mah, Vice President of Asset Backed Securities at DBRS Morningstar; Peter S. Morgan, Partner at Winston & Strawn LLP. Chris Nard, CEO of Fortifi Financial Services; Dilip Petigara, CEO of Access Point Financial, Jim Reinhart, CEO of Ygrene Energy Fund; Andrea Roess, Managing Director at DTA; Noah Shaw, Co-Chair of the Renewable Energy Practice at Hodgson Russ LLP; Sandeep Srinath, a Director in ING Capital LLC's Structured Solutions Group; Shawn Stone, CEO at Renovate America; David Sykes, Partner at Chapman and Cutler LLP; Dub Taylor, COO of the Texas PACE Authority; and Olivia White, Vice President at Renew Financial.
PACENation is the nonprofit membership organization that advocates for expanded access to PACE financing. PACENation provides resources and support to local governments, businesses, and nonprofit organizations that are committed to allowing American property owners to improve the efficiency and resiliency of their homes and businesses with PACE.