NEWPORT BEACH, CALIF., JULY 24, 2013 — /PRNewswire/ — The City of Newport Beach announced the approval of the HERO Financing Program in the community. HERO is the leading residential Property Assessed Clean Energy (PACE) program in the state, and Newport Beach became the 59th municipality in California to pass a simple resolution approving the HERO Program. Newport Beach is the first city in Orange County to adopt a PACE program.
The city council overwhelmingly passed the resolution to bring the HERO Program into their jurisdiction. This public-private partnership paves the way for Newport Beach property owners to take advantage of lower cost financing for solar power, efficient heating and cooling systems, high-efficiency windows and other energy upgrade projects. As a PACE program, HERO enables participating property owners to pay for these improvements over time through their property tax bill.
“The HERO Program is a win-win-win for residents, cities and the economy,” said Lacy Kelly, CEO of the Association of California Cities – Orange County, a 501(c)(3) non-profit representing the interest of the region’s 34 cities. “Residents can get increased access to energy efficiency upgrades, cities can voluntarily opt in without cost and jobs are created.” Read more.