Author: Jessa Coleman

MD-PACE Program Manager Appointed to Advance Clean Energy in Maryland

FOR IMMEDIATE RELEASE
January 30, 2019                               

Jessa Coleman Appointed to Advance Clean Energy in Maryland
A diverse group of energy experts have been appointed to MCEC’s Advisory Council

ANNAPOLIS, Md. ­– The Maryland Clean Energy Center (MCEC) welcomes 51 individuals to serve on its 2019 Advisory Council, including Jessa Coleman of PACE Financial Servicing (PFS).

Jessa Coleman is the Programs Manager for PACE Financial Servicing (PFS) in the mid-Atlantic region. In this role, she works with public and private institutions to catalyze investments in energy efficiency property renovations and clean energy generation. One of the programs that she manages is the MD-PACE program, sponsored by MCEC. Ms. Coleman specialized for three years in sustainability and energy while pursuing a Master’s in Management at HEC Paris in France. During this time, she was hired as a consultant by three different companies to analyze and structure their data, resulting in significant changes in service offerings and pricing strategies. She also consulted with non-profits and social enterprises on market strategy and business operations, including the design of a social impact assessment and a strategic marketing study for a business accelerator based in East Africa. Earlier in her career, Ms. Coleman worked at two prestigious global law firms as well as the Departments of State and Commerce. She holds a Certificate in Energy & Finance from Societe Generale and HEC Paris, a Certificate in Social Enterprise Management & Impact Investing from the Middlebury Institute of International Studies, and a BA from American University. Ms. Coleman brings to the Advisory Council an international perspective that is founded in innovative thinking about energy solutions.

“The elite group of individuals serving on our Advisory Council are an integral part of pushing for the growth of the advanced energy economy in Maryland,” said Kathy Magruder, MCEC Executive Director. “We are fortunate to have so many experts and resources, based in and around Maryland, providing the support needed to reach our goals to promote clean energy at the local level.”

The Council draws input from collaborative groups to direct activity related to finance, outreach & education, policy & legislation, advancing innovation, and measuring impacts as related to the MCEC mission and market expansion for advanced energy.

The Maryland Clean Energy Center was created in 2008 to encourage the transformation of the energy economy. MCEC works to implement financing solutions that catalyze the growth of business, create jobs, and make clean energy technologies, products and services affordable and accessible for Maryland consumers.

C-PACE and Adaptive Reuse Go Hand-in-Hand in the City of Baltimore

C-PACE and Adaptive Reuse Go Hand-in-Hand in the City of Baltimore

Project News

The City of Baltimore is a growing market for C-PACE financing. In the past six months, interest in the program has accelerated and the known C-PACE pipeline in the city has more than tripled. This is an encouraging trend that is expected to carry into 2019 and beyond as property owners in the city increasingly realize that C-PACE is a good fit for their financing needs. This surge in interest is aided by the strong support for the C-PACE program by local city officials.

Baltimore is particularly well-suited to benefit from C-PACE financing for adaptive reuse. Using C-PACE for adaptive reuse not only improves the energy efficiency of the property but doubles its benefits by encouraging the adaptation of existing properties in lieu of new construction. The sustainability of this choice is well-aligned with the C-PACE mission to make buildings more sustainable in their energy consumption. Adaptive reuse in Baltimore saves iconic, historic buildings from decay and neglect.

One such example is the conversion of four run-down, abandoned properties in the city. The owner renovated these buildings in 2016 into mixed-use spaces for retail and multi-family residence. Thanks to the City of Baltimore’s amendment to C-PACE Council Bill 18-195 this year, the owner was able to apply for retroactive C-PACE financing to cover part of the cost of these projects. C-PACE was able to finance high efficiency windows, LED lighting, HVAC improvements, and more. This project was financed by Greenworks Lending, who also financed the first C-PACE deal in the City of Baltimore. Andrew Zech, Head of Business Development for Greenworks Lending, says, “With a physical presence in Maryland, Greenworks Lending is proud to support the redevelopment of the state’s largest city. Some of our most exciting projects are the adaptive reuse of historic buildings. The City of Baltimore has a trove of such projects and we look forward to continuing to advance economic development and energy efficiency in the region.”

Engaging Anew with Stakeholders

Engaging Anew with Stakeholders

Programmatic Updates

The MD-PACE program is pleased to report a considerable increase in contractor and capital provider interest over the past year. Since 2017, contractor registration increased by 60% and capital provider registrations by 12%. This level of stakeholder engagement is a sign of the success of the MD-PACE program.

Considering this interest, the MD-PACE program decided to host a re-registration session for all contractors and capital providers to reengage with those interested parties, refresh contact information, and collect information that could be useful for potential C-PACE applicants. As part of this process, the program reissued updated registration forms, hosted a re-training webinar, and is updating the program website to reflect the outcome of this re-registration process.

The sustained interest in the MD-PACE program on the part of some of its strongest partners – contractors and capital providers – is a clear sign that this is a healthy program that will thrive in the years to come.

Passage of C-PACE Legislation in Pennsylvania and Delaware

Passage of C-PACE Legislation in Pennsylvania and Delaware

In the Mid-Atlantic

Mid-Atlantic PACE is growing through the passage of PACE bill sin Delaware and Pennsylvania (PA's state capitol pictured)

Pennsylvania and Delaware have both begun to build C-PACE programs in the past several months, with Pennsylvania’s governor signing C-PACE enabling legislation in June (Act No. 30) and Delaware’s governor following close behind in September (Senate Bill 113).

The Pennsylvania legislation was passed through the Commonwealth’s House and Senate with broad bipartisan support. Individual jurisdictions will still need to opt into the program at a county or other municipal level before the program can be considered live. The Sustainable Energy Fund, an existing agency that facilitates clean energy and energy efficiency grants and incentives, will sponsor and administer and statewide program. The City of Philadelphia is expected to administer an independent program.

The case of Delaware largely mirrors that of Pennsylvania. It, too, is now in a program design and county opt-in phase, led by the state administrator, Delaware’s Sustainable Energy Utility. The three counties in the state have already indicated their interest in participating in the program and therefore, we can expect to see C-PACE in action in Delaware within the next several months. As Delaware is Maryland’s immediate neighbor, the MD-PACE program expects that its registered contractors and capital providers will soon uncover an attractive commercial real estate market in Delaware.

The MD-PACE program commends the Commonwealth of Pennsylvania and the State of Delaware on taking the steps to implement a Commercial Property Assessed Clean Energy program in their respective jurisdictions. The passage of C-PACE legislation in Pennsylvania and Delaware lays the groundwork for the Mid-Atlantic to be a powerhouse of C-PACE transactions in the country. Alongside Pennsylvania and Delaware, New Jersey has a C-PACE program under development. Maryland and DC have fully fledged programs with multiple completed transactions and Virginia is in the implementation phase, with individual counties now opting into the program (Arlington County has opted in thus far). To the west, Kentucky and Ohio also have functioning C-PACE programs.

Welcome to the New MD-PACE Program Manager

Welcome to the New MD-PACE Program Manager

Programmatic Updates

MD-PACE is pleased to introduce Jessa Coleman, the new Program Manager of the MD-PACE program! This summer, MD-PACE said goodbye to Gerard Neely, who has chosen to move on to other work in the industry. We thank him for all the hard work he did to onboard counties across the state to the MD-PACE program. Jessa joined us as his replacement in July.

Jessa is a native of Frederick, MD and thus excited to be back in her home state in a position that allows her to help drive economic growth and energy efficiency in the state. She recently returned to the United States after several years abroad consulting for private enterprises dedicated to social or environmental causes and non-profits. She has developed data-centric business strategies for an energy services company in France; created a marketing strategy and monitoring and evaluation study for a business accelerator in East Africa; managed a microfinance institution in Cameroon; and provided strategic support to small biofuels companies across Africa, among other projects. Her experience in program management, data management, and strategy fit MD-PACE’s needs. Moving forward, Jessa intends on ramping up ongoing operations such as marketing (participating in events, communicating more actively online through social media and this newsletter, liaising regularly with community partners, etc.) to boost MD-PACE’s brand across the state and in the region. She looks forward to continuing to build this innovative program alongside MD-PACE’s many stakeholders.

Two New Counties Join the C-PACE Club and Updates in Baltimore City

Two New Counties Join the C-PACE Club and Updates in Baltimore City

Legislative Updates

Bethesda, MD (September 26, 2018) — As the year unfolds, Maryland continues to experience successful C-PACE expansion across the state. Most recently, Cecil County voted to pass Bill No. 2018-13 on September 4th of this year, enabling C-PACE in the county. Prince George’s County Executive signed their own ordinance implementing C-PACE financing on August 8th of this year. The result of these developments is that in just a few short years, 17 jurisdictions in Maryland have enabled C-PACE programs. Of these, 15 have opted into the MD-PACE program (Montgomery County and Prince George’s County operate their own C-PACE programs).

Pace legislation is passed in Cecil and Prince George's Counties

Furthermore, in July the City of Baltimore passed an amendment to Council Bill 18-195 substantially changing the rules guiding C-PACE project eligibility. This amendment allows otherwise eligible projects that have already begun construction to qualify for C-PACE retroactively. Specifically, projects initiated as of July 1st, 2016 may now apply for C-PACE financing up to 30 months after qualifying improvements have been placed on the property. This option will be available through December 31st of 2019. The exact updated text of the legislation is included below:

For projects initiated on or after July 1, 2016, through December 31, 2019, the Administrator may approve a clean energy loan up to 30 months after the property owner places qualifying energy improvements in service, as long as the property owner has filed an initial PACE loan application on or before December 31, 2019.

If you have any questions about the content of C-PACE legislation that has been passed in Maryland or where to find such information, please reach out to PFS.

Jurisdictions in Maryland with a C-PACE Program:

  • Allegany County
  • Anne Arundel County
  • Baltimore County
  • Baltimore City
  • Carroll County
  • Charles County
  • Frederick County
  • Garrett County
  • Harford County
  • Howard County
  • Kent County
  • Montgomery County
  • Prince George’s County
  • Queen Anne’s County
  • Talbot County
  • Wicomico County

Simon Property Group Implements Largest PACE Deal in MD-PACE

Simon Property Group Implements Largest PACE Deal in MD-PACE

Hanover, MD (September 26, 2018) — Anne Arundel County may already claim the seat of the Maryland state government in Annapolis, but it can now lay claim to the site of the largest C-PACE deal in the state, as well. The well-known Arundel Mills Mall used C-PACE financing to implement comprehensive energy efficiency improvements throughout the building. With the closure of this deal, Maryland has surpassed $12 million in C-PACE financing.

Arundel Mills Mall by Simon Property Group
The Arundel Mills Mall is the recipient of the largest PACE deal in Maryland as of September 2018.

The project was funded by Petros PACE Finance, LLC. Petros has been involved in the PACE market since 2010. Based in Texas, this is their first deal to close in Maryland. CEO of Petros PACE Mansoor Ghori says, “We are pleased to have closed our first transaction in Maryland, which was also the first PACE transaction to close in Anne Arundel County. We look forward to working with potential partners in the state.”

To learn more about Petros PACE Finance, visit https://www.petros-pace.com/.

To learn more about the MD-PACE program, visit https://www.md-pace.com/.