President Clinton and PACENOW Coalition Announce National PACE Bond Program at Clinton Global InitiativeP ACE Bonds will finance the energy retrofit of our nation's buildings and homes

NEW YORK, Sept. 24 -- President Clinton today announced his commitment to a national PACE finance program as part of the Clinton Global Initiative. Property Assessed Clean Energy, known as "PACE" finance, is an innovative municipal finance program that has the potential to fund the energy retrofit of America's homes and buildings. The PACENOW coalition, established this year to promote these programs, also announced its Clinton Global commitment to launch PACE finance on a national scale, starting with securing the support for accelerated PACE program adoption by 50 mayors and 50 municipalities.

"PACE bonds can provide enormous amounts of much needed low cost capital to retrofit America's towns and cities all while creating local jobs," said Jeffrey Tannenbaum, founder of PACENOW.org. He added, "PACE finance has strong bipartisan support as it provides large benefits to property owners, existing mortgage lenders, municipalities, and our nation without burdening our nation's taxpayers."

"PACE is an idea whose time has come," said Clinton Global member Jack D. Hidary of the Hidary Foundation. "PACE will enable owners of homes and commercial buildings to increase the value of those properties and reduce their utility bills at the same time, benefiting both the borrowers and lenders. President Obama has called on us to increase investment in clean energy and PACE is a key component to achieving this goal."

PACENOW is pleased to announce a number of early support announcements. Mayor Jerry Sanders (R) of San Diego today stated, "We are delighted to be one of our nation's first counties to support PACE. . .and we urge the rest of our nation, on a bipartisan basis, to join us." The Boulder County Board of Commissioners commented, "Boulder County has a very successful PACE program and we encourage our nation's Governors and Mayors to embrace PACE...given the large potential benefits."

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