Short for Residential Property Assessed Clean Energy, R-PACE is a funding mechanism where the cost of certain energy efficient home repairs is assessed over time on the property tax duplicate. R-PACE financing, if executed responsibly, could provide a way for homeowners to access much-needed capital. However, there are serious concerns around customer protections with the R-PACE model currently in place. Loans taken by homeowners are property tax liens collected through the county tax assessment. Thus, a residential PACE loan is a higher priority than a mortgage and default on payment can lead to foreclosure.

Join us to learn more about the status of R-PACE in Ohio, what organizations should know before it is allowed in their communities, and how it can be enacted responsibly, along with other models for home improvement financing.

Featured presenters:
Frank Ford, Senior Policy Advisor, Western Reserve Land Conservancy
Sally Martin, Housing Director, City of South Euclid
Steve Sharpe, Staff Attorney, National Consumer Law Center

Where can I look for more information before the webinar?

Northeast Ohio’s Vacant and Abandoned Property Action Council recently created a detailed analysis of the proposed program.

The National Consumer Law Center has published an issue brief.