SF proposes program to green residential buildings

San Francisco city officials say they are prepared to launch GreenFinanceSF, a program that will help owners of buildings with four units or fewer pay for the installation of energy-efficient, solar-energy systems and water conservation improvements.

Supervisor Mark Farrell and Mayor Ed Lee announced Tuesday their intent to launch what is a voluntary Property Assessed Clean Energy financing program that allows participants to obtain financing for approved efficiency projects and make payments through property taxes for up to a 20-year period. A similar program is currently in place in Sonoma and Riverside counties.

The program for residential homeowners was suspended in 2010 when the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, raised concerns over the PACE financing. But Gov. Jerry Brown announced last month a state reserve fund to address the agency’s concerns and offset any losses to Fannie Mae and Freddie Mac related to PACE financing.

The local effort is expected to require contractors who perform the work to use local hiring, which would boost the efforts of San Francisco CityBuild Academy, a training program that helps prepare residents for entry-level jobs.Bay Area NewsGovernment & PoliticsPolitics

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

A cyclist heads past an artistic sign onto Page Street, a Slow Street, at Stanyan Street near Golden Gate Park on Monday, April 12, 2021. (Kevin N. Hume/S.F. Examiner)
Push to make street closures permanent meets with resistance

Hastily thrown together during the pandemic, Slow Streets program now struggles to build support

Agnes Liang, who will be a senior at Mission High School, is running for one of the two student representative seats on the San Francisco Unified School District Board of Education. (Kevin N. Hume/S.F. Examiner)
Turbulent year on school board leaves student delegates undeterred

Around this time last year, Shavonne Hines-Foster and Kathya Correa Almanza were… Continue reading

(Kevin N. Hume/S.F. Examiner)
Three people killed in SF shootings in less than 24 hours

San Francisco police were scrambling Saturday to respond to a series of… Continue reading

Muni operator Angel Carvajal drives the popular boat tram following a news conference celebrating the return of the historic F-line and subway service on Friday, May 14, 2021. (Kevin N. Hume/S.F. Examiner)
Mayor, transit officials celebrate return of Muni service

Mayor London Breed and city transit officials gathered Friday to welcome the… Continue reading

San Francisco police investigated the scene of a police shooting near Varney Place and Third Street on May 7. (Kevin N. Hume/S.F. Examiner)
SFPD shooting may prompt new body camera rules for plainclothes cops

Police chief says incident ‘should not have happened’

Most Read