LOS ANGELES, Aug. 5, 2015 /PRNewswire/ -- City of Los Angeles property owners are now able to finance seismic and energy improvements to their homes and businesses through a new program approved by the Los Angeles City Council. The council recently announced that they have approved one of Mayor Eric Garcetti's key resiliency and sustainability initiatives, authorizing the AllianceNRG Program to provide much-needed financing to Los Angeles property owners. The AllianceNRG Program, which is offered through the California Statewide Communities Development Authority ("CSCDA"), got its start in San Francisco offering PACE (Property Assessed Clean Energy) financing to thousands of property owners for seismic retrofits and other PACE eligible improvements. The AllianceNRG Program provides financing for up to 100 percent of the project costs for seismic retrofits, energy efficiency improvements, renewable generation projects, water conservation measures and electric vehicle (EV) charging stations.
"I'm very pleased that the City Council has passed a critical tool that will help Los Angeles implement my earthquake and sustainability plans," said Mayor Garcetti. "With this lending tool, property owners will have access to financing for energy efficiency, water conservation, renewable energy and seismic retrofits that will help spur economic growth while increasing the long-term resiliency of the City's building stock."
This is the second significant initiative of Mayor Garcetti's earthquake plan that has been approved by the City Council.
The AllianceNRG Program is entirely voluntary and is available only to property owners in counties and municipalities that are members of the CSCDA and opt-in to its Open PACE Program.
PACE financing is proven to provide job creation, economic development, reduce energy consumption and advance renewable energy options. This unique financing vehicle will also increase property values and support important regional goals such as water conservation and seismic strengthening.
The AllianceNRG Program is an administrator for CSCDA's Open PACE Program through a team consisting of CounterPointe Energy Solutions and Leidos Engineering, financed by Deutsche Bank and CounterPointe Energy Partners. The City of Los Angeles joins a growing list of AllianceNRG participants in California that include San Diego County, and the City and County of San Francisco. With 350 eligible contractors, architects and engineering professionals already registered, and over $50 million in seismic projects in process, the AllianceNRG Program is the leading provider of financing for seismic retrofits in California.
For more information on the AllianceNRG Program, please visit www.alliancenrg.com. Media inquiries should be directed to Patricia Barnes at Leidos Engineering, at (518) 454-2276.
About CounterPointe Energy Solutions LLC
CounterPointe Energy Solutions LLC, a subsidiary of CounterPointe Energy Partners LLC, is the master program administrator for the AllianceNRG Program™, which provides turnkey administrative solutions for Property Assessed Clean Energy (PACE) programs to municipalities, program managers and administrators through a cutting-edge web-based platform, with live customer service and on the ground support, to originate, underwrite, fund and service PACE assessments.
About CounterPointe Energy Partners LLC
CounterPointe Energy Partners LLC is an alternative asset manager and energy finance company that provides services and funding in connection with the acquisition, management, servicing and disposition of green energy financial assets.
About Leidos Engineering
Leidos Engineering is a trusted and future-focused solutions provider known for grid engineering, energy efficiency, systems integration and controls, DesignBuildSM, environmental management and energy asset transaction expertise. Its 3,000 employees integrate technology, data and decades of industry experience to activate meaningful results for utility, manufacturing, general contractor and government agency clients.
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health and engineering. The Company's 19,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes and defend our Nation's digital and physical infrastructure from 'new world' threats. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $5.06 billion for its fiscal year ended Jan. 30, 2015. For more information, visit www.leidos.com.
About Deutsche Bank
Deutsche Bank is a leading client-centric global universal bank serving 28 million clients worldwide. Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany's leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.