MISSION VIEJO, CA—The City of Mission Viejo is making the HERO Property Assessed Clean Energy (PACE) program available to local residents. HERO PACE financing enables homeowners to make energy- and water-efficiency improvements and pay for them over time through their property tax bill. Interest is tax-deductible, and homeowners see immediate savings on utility bills. Residents may begin submitting applications for HERO later this year.

Given the State of California's recently-adopted regulations aimed at reducing urban water consumption by 25%, PACE financing is a particularly appealing option for homeowners and for municipalities.

“Between the extended drought and rising energy costs, property owners are eager to make the types of investments HERO supports,” said Blair McNeill, vice president of community development for Renovate America, the company that administers the HERO Program. “We're happy to provide an avenue for financing that requires no money down and does not depend on personal credit, bringing efficiency improvements within reach for a broad range of homeowners.”