July 2019: Green Bank Clipboard
A newsletter for Montgomery County energy contractors
Here's the latest news:
- New project closes using the Commercial Loan for Energy Efficiency and Renewable Energy (CLEER)
- New CLEER Lender - Latino Economic Development Center
- Inviting ideas for financing needs of benchmarked properties
- Hold the Date- September 12 conference for benchmark property owners
- Can CLEER help you increase project scopes for 2020 projects?
- Department of Environmental Protection Open Position - Benchmarking Program Manager
- Upcoming Events and Resources
- Become a CLEER Authorized Contractor
- CLEER Participating Lenders
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New Project Closes Using the Commercial Loan for Energy Efficiency and Renewable Energy (CLEER)
The Green Bank's CLEER loan used to finance a major energy efficiency improvement.
Recurrent Innovative Solutions and Revere Bank recently used the Montgomery County Green Bank's Commercial Loan for Energy Efficiency and Renewable (CLEER) program to fund an energy efficiency project in Bethesda.
The $200,000 CLEER loan closed in June 2019 and supports an office property in Bethesda. The loan will pay for installation of a rooftop HVAC system and controls, which is the final effort on a series of energy efficiency renovations that Recurrent has done to this property. The loan from Revere Bank will be a 12-year loan at 6.125% and secured by a UCC on the asset; there is no lien on the property. The project will result in about 17% of energy savings for the property and was able to secure $12,000 in incentives from Pepco. Revere Bank processed the approval of this loan within 2 weeks of documents being submitted.
"The CLEER process was straight-forward and moved efficiently. The property owners were pleased with the bank's proposal. The loan allowed the owner to take care of this important piece of deferred maintenance, drive down energy costs and improve comfort for the building occupants." Keith Derrington, Chief Operating Officer - Recurrent Innovative Solutions, LLC.
"CLEER allowed us to provide flexibility for this owner to meet its needs. The interactions with the Green Bank and Recurrent were simple and quick. This helped us to efficiently underwrite and approve this loan and be responsive to the owner's timetable." Horacio Chacon - Revere Bank
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New CLEER Lender - Latino Economic Development Center
The Latino Economic Development Center (LEDC), a local small business lender, is a new CLEER lender!
LEDC has offices in Wheaton and has served the Montgomery County market for over eight years. During this time, LEDC has provided over 300 loans to small businesses in Montgomery County. LEDC is a certified Community Development Financial Institution and Small Business Administration Community Advantage and Micro-Loan Intermediary lender.
LEDC joined onto CLEER to help promote energy savings to its small business customers and to offer another lending option for CLEER throughout the county. LEDC will focus predominately on loans under $75,000. Rates for LEDC start at 6.5% and LEDC will go out to 10 years depending on the useful life of the energy savings measure. The contact information for LEDC is:
Carlos Garcia
cgarcia@ledcmetro.org
202-540-7425
Susana Gomez Portugal
sgomez@ledcmetro.org
202-540-7430
"The Latino Economic Development Corporation is excited about supporting property and business owners in Montgomery County to undertake energy performance improvements and to gain the operating and environmental benefits that come with these improvements. Through our extensive work with small businesses, we know that finding operating expense savings are key to long-term business success." Rodrigo Cordon - Latino Economic Development Corporation
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Inviting Ideas for Financing Needs of Benchmarked Properties
The Montgomery County Green Bank is soliciting financing ideas from commercial property owners that have reported to the County under its benchmarking program. The Green Bank has a Request for Financing Proposals (RFP) posted on its website here.
The RFP seeks ideas from those “benchmarked” property owners that are looking at energy performance savings improvements and have a need for financing to help accomplish these improvements. If you have a property owner in need of support, please let them know about the RFP. The RFP offers choices of using the CLEER program as well as submitting ideas to the Green Bank to consider in partnership with lenders.
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Hold the Date – September 12 Conference for Benchmark Property Owners
The Montgomery County Green Bank and the Montgomery County Department of Environment Protection (DEP) are working on a conference tentatively scheduled for September 12 from 8 to 12 to provide information to property owners of benchmarked properties on how to explore energy savings measures, where to find utility incentives, and what financing may be available to help. The conference will bring owners, contractors, utility representatives and lenders together to meet, inform, and explore options to improve properties.
Please Hold the Date and we will get more information out to you in the coming weeks. The conference will be at the Silver Spring Civic Center.
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Can CLEER Help Increase The Scope of 2020 Projects?
Property managers thinking about next year’s capital improvement budgets might find themselves constrained by available reserves or property funding limitations. But, there’s no need to let such constraints prevent them from undertaking energy efficiency improvements to maximize energy savings!
Read about how our CLEER financing can help when increasing the scope of work to achieve economies of scale and netting energy savings sooner—rather than waiting for next year!
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Department of Environmental Protection Open Position - Program Manager I
The Montgomery County Green Bank is excited to share a new open position from our colleagues within the Department of Environmental Protection (DEP). The DEP is seeking to fill a Program Manager I position in the Office of Sustainability. This position is responsible for the management and implementation of energy efficiency, renewable energy, and other sustainability policies and initiatives to promote the goals of Montgomery County to reduce energy consumption and greenhouse gas emissions and increase the use of renewable energy. The Program Manager will provide day-to-day organization, community engagement, and technical assistance for key programs, such as building energy benchmarking, energy financing programs, and other efforts directed to drive efficiency in the commercial and multifamily building sector. The salary range for this position is $58,958 to $97,655.
To view the complete job announcement and to apply, please visit the DEP website, click on the “Search Jobs” tab, and then on the Job Search link “Available Jobs.” Read the full job description under the “General Professional” Job Category. Interested candidates must create an online account in order to apply.
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Upcoming Events
July 18: USGBC - A Midsummer Night's Green
Washington, DC
The evening will include the announcement of our 2019 Community Leader Award winners. These prestigious annual awards honor smart, high-performance buildings and inspiring individuals and organizations that are making sustainable communities a reality in the National Capital Region.
August 22: 6th Annual Leaders in Energy Green Jobs Forum
Washington, DC
Conducted by Leaders in Energy and hosted by the Metropolitan Washington Council of Governments. Learn about opportunities for green jobs in the Metropolitan DC Region. Get tips from Leaders in Energy members who have landed or created green jobs. Meet exhibitors from companies and organizations who are hiring and meet green tech/clean energy educational organizations offering training and certifications for continued career growth.
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Become a CLEER Authorized Contractor!
Are you already a Pepco-approved Service Provider with commercial customers?
Or are you a Solar PV Installer? Becoming an Authorized Contractor is easy, costs nothing, and allows you to offer your customers the benefits of CLEER.
To start the process, simply sign our Contractor Agreement and provide the required documentation.
Visit the CLEER Contractors page on our website to learn more about the process, and, more importantly, about the benefits to you and your customers!
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Have a Question for Our Participating Lenders
on our Commercial Loan Product?
We work through two lender partners to offer CLEER loans. Please feel free to contact them with any questions you might have about how CLEER could work for your clients and customers.
Josh Patton, Vice President of Sales
joshpatton@ascentiumcapital.com
Office: 281.902.1969
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