The situation
My own call from the top seat at Tellus: whether and how to enter the retrofit market Los Angeles had just created by ordinance.
Older wood-frame apartment buildings with a weak first story, a fixed compliance clock, scope set by an engineer's report, and owners who were mostly small landlords with no capital line for code work.
Not another bidder. Someone who could answer the money question on the first call, because a retrofit adds no rent and a bank will not lend against nothing.
Originate the financing ourselves as a Ygrene-certified PACE contractor, bundle the structural engineer, and sell one relationship covering design, money and construction.
Tellus launched the line with 100 percent PACE financing on offer and an engineer under the same roof, and every owner was screened on financing before anyone drew a proposal.
Read on
The decision and the reasoning
Why we did it this way, told first.
ReadWhat we did and what it produced
The work, decision by decision, and the result.
ReadA slice of the project list
A few related projects.
ReadPrivate side
The full report, the source files on record, the timeline and every figure with its source. Password.
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