Public Agency Master Lease Initiative

Local governments and other public agencies (e.g. schools, water districts, and special districts) now have an additional financing option available to them through SoCalREC’s flexible, private sector financing. SoCalREC’s Master Lease Initiative provides capital to finance energy efficiency improvements through a streamlined and standardized process and is not on a reimbursement basis. With various financing options available (e.g. utility and other publicly funded financing programs), SoCalREC provides independent financing advice in choosing the most appropriate funding mechanism based on specific needs.

The benefits of SoCalREC financing lease terms1:  

  Features:   No upfront costs; standardized documentation and processing
  Project types:   Flexible, including soft costs2
  Funding amount:  $250,000 minimum3
  Term:  Up to 15 years
  Interest rate:   Estimated 2.75 - 4.50%4
          1 Exceptions to these basic terms may apply depending on project and borrower.
          2 Applicable projects include energy efficiency and any other sustainability projects. 
          3 Projects can be aggregated to meet minimum threshold.
          4 Rates are tied to the Treasury index and based on the credit worthiness of the borrower.

Qualified applications will receive a preliminary approval with indicative lease rates, terms and a not-to-exceed borrowing amount in order to assist your city in obtaining governing board approval for your project(s).

Resources:
Master Lease Overview
FAQs
Financing Options Matrix
Financing Decision Tree
Financing Application
         -----------------

SoCalREC’s lease financing is managed by Public Financial Management, a nationally recognized financial advisory firm that provides independent financial advice and consulting services to state, local, and regional government and non-profit clients.

For additional information, please contact Laura Franke, Public Financial Management, Inc. at (213) 404-0077 or frankel@pfm.com.

-----------------
You can also learn about: