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Berkeley Expands Financing Options for Soft Story Building Owners

According to the Daily Californian (“Expansion of Berkeley financing program to ease costs of seismic retrofitting,” posted on 8/18/15), soft story building owners can now access PACE, Property Accessed Clean Energy, funds to help ease the cost burden of undergoing a retrofit of their buildings. PACE financing allows property owners to borrow the money necessary to make renovations and improvements, and redistributes the cost by incorporating it into semi-annual property tax bills over time, according to city spokesperson Matthai Chakko. PACE was initially developed as a pilot program in Berkeley in 2008 to provide financing for sustainability improvements, such as renewable energy additions and water and energy conservation measures. At the April 7th, Berkeley City Council meeting financing from the program was extended to seismic retrofits.

If your building still needs to be retrofitted and you have any questions about the process, we would love to help you out. You can find my contact information at http://www.enginious-structures.com/contact.html.

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