MIAMI, April 12, 2012 /PRNewswire/ -- Ygrene Energy Fund Florida, a provider of energy retrofit programs for local governments throughout the state, today welcomed the City of Miami to South Florida's Green Corridor District. The unanimous City Commission vote enables Miami to tap into more than $550 million of private capital funding to unlock affordable, immediately accessible financing for commercial building energy upgrades and wind hardening.
Ygrene Florida, along with its parent company Ygrene Energy Fund, partners with local governments throughout the U.S., including major cities like Sacramento, CA, to streamline the financing, administration and implementation of renewable and energy efficiency building improvement projects. Its locally designed financing solution offers property owners reliable funding for building energy upgrades -- at no installation cost and repayable over the long term through property tax assessments.
"Miami and all of the communities in South Florida's Green Corridor District are leading the next era of progressive, smart city policy," said Joe Spector, director of operations for Ygrene Energy Fund Florida. "Rather than leaving money on the table, these communities have elected to jumpstart economic growth and forge a reliable source for energy improvement financing. We welcome the City of Miami to the Green Corridor."
Over the next five years, the activity generated in Miami by commercial renewable energy and efficiency projects will contribute more than 5,025 stable jobs -- over half of the 8,250 total jobs projected to be made possible through the Green Corridor District -- and inject close to $837 million in economic output. Performance guarantees offered through Ygrene's reputable network of insurance providers including Energi Insurance Services ensure optimal performance after installation, leading to an increase in building value and a valuable payback on investment. Program guidelines ensure the utility savings resulting from the property improvements pay for themselves by exceeding the overall costs of the project.
Building owners and contractors within designated jurisdictions in Miami-Dade County's Green Corridor District can sign up online to receive updates on program launch timelines, as well as upcoming contractor training events. Visit Ygrene's Green Corridor website for more information and to sign up as a contractor: cleanenergymiami.com.
About Ygrene Energy Fund Florida
Ygrene Energy Fund Florida, headquartered in Tampa, is the leading developer and administrator of energy efficiency retrofit financing programs throughout the state. In partnership with Barclays Capital, Lockheed Martin and Energi, Ygrene has unlocked $550 million of private funding for affordable, immediately accessible financing for commercial and residential energy upgrades and wind hardening at no upfront costs. Over the next five years, Ygrene-funded renewable energy and efficiency projects are projected to bring more than 8,250 stable jobs and $1.375 billion in economic activity to Florida and nationwide. Learn more at ygrene.us and cleanenergymiami.com.