Greenworks Lending Launches in Florida to Provide Commercial PACE Capital to Building Owners

by | Aug 21, 2018 | News, Press Release

DARIEN, CT – Greenworks Lending today announced its entry into Florida in partnership with the Florida Development Finance Corporation (“FDFC”). Greenworks will offer Commercial Property Assessed Clean Energy (“C-PACE”) financing to 115 member municipalities across 17 Florida counties, including Miami-Dade and Leon County. This partnership will allow commercial properties to affordably finance both efficiency and renewable energy upgrades as well as storm resiliency measures.

This partnership marks the launch of FDFC’s C-PACE program, which works in conjunction with the Florida Resiliency and Energy District to place the special assessments in the tax roll. Florida represents the thirteenth state (plus the District of Columbia) Greenworks Lending has entered to provide commercial PACE financing since its formation in 2015.

“Commencing operations in Florida is an important growth measure for our firm as well as the commercial PACE industry in general,” stated Jessica Bailey, CEO and Co-founder of Greenworks Lending. “Greenworks is uniquely poised to provide a deeper level of C-PACE financing to a broader array of commercial properties in Florida then has been available in the past. We are fundamentally responding to demand in this very important commercial real estate market. Florida property owners and developers have long called upon us as a capital resource and market leader and now we can say yes to helping them save energy and protect their properties.”

“We are pleased to see a private capital provider with the experience of Greenworks Lending enter the Florida market as the first commercial lender within the FDFC program,” stated Bill Spivey, Executive Director of the FDFC.  “The FDFC’s C-PACE Program allows multiple capital providers to begin serving Florida businesses.  As we continue to on-board several more C-PACE Providers soon, we look forward to seeing the benefits that PACE financings can bring to local communities through healthy competition, energy savings and improved cash-flow positions for Florida businesses.”

About Greenworks Lending

Led by several of the C-PACE industry’s founding policy developers, Greenworks Lending is a private capital provider uniquely dedicated to funding commercial property owner investment in renewable energy and energy-efficiency projects through state-legislated C-PACE programs on a national level. Greenworks utilizes C-PACE financing so building owners can access long-term, lower-cost capital to make smart, ccost-saving improvements to commercial buildings. Greenworks also supports and partners with states, counties, and municipalities interested in promoting economic development, creating jobs, and reducing pollution. 

About the Florida Development Finance Corporation

The Florida Development Finance Corporation (FDFC) is a special development finance authority created by State Legislation under Chapter 288, Part X of the Florida Statutes and formed as a 501(c)(4) not-for-profit corporation. Although not a State Agency, the FDFC is a statewide conduit issuer that provides access to capital for project finance. Over the past 20 years, the FDFC has assisted over 90 Florida-based businesses to finance over $2 billion in tax-exempt & taxable bonds for qualified projects and borrowers.

For Information Contact:
Adam Moskowitz
Greenworks Lending
Phone: 203.837.7816