Ashburn, VA – May 14, 2019
IBTS’ Energy and Sustainability Team recently signed a master service agreement with LordCap PACE to provide technical and professional services.
The Institute for Building Technology and Safety (IBTS) is excited to announce a new master service agreement (MSA) with LordCap PACE to provide technical and professional services, including contractor evaluations, energy audit reporting, and other property holder related services.
LordCap PACE is a pioneer in green energy finance for commercial buildings and in ESG (environmental, social, governance) investments. Its parent, Lord Capital LLC, has structured and consolidated over $86 billion of trade assets in the Americas, Asia, and Europe.
Property Assessed Clean Energy (PACE) financing covers hard and soft costs of energy savings projects and other improvements, allowing property owners to use a tax mechanism to repay the project over a significant period, up to 30 years.
“LordCap PACE is excited to partner with IBTS,” says Joe Lau, Chief Operating Officer of Lord Capital. “IBTS’ expertise in quality management and LordCap’s leadership and dedicated capital for commercial PACE is a differentiator for our team to provide competitive and market-leading solutions that promote both economic efficiency and environmental sustainability.”
Under the MSA, IBTS’ Energy & Sustainability Division will provide quality management to ensure state, local, and LordCap PACE program compliance across the project lifecycle, including:
- Compiling and reviewing contractor information for compliance with state, local and LordCap PACE program requirements
- Review of energy audit reports conducted by the property holder or their contractor
- Building envelope design review of all construction documents
- Quality control via onsite construction verification inspections
IBTS has years of experience performing quality management and oversight for residential and commercial PACE programs, and is a Market Partner for the Department of Energy’s Commercial PACE Working Group (C-PACE) – a cohort of state and local governments working together to learn about, launch, and refine C-PACE financing programs.
IBTS is a 501(c)(3) nonprofit organization committed to helping communities through quality services that reduce risk, enhance public safety, and improve quality of life. IBTS is headquartered in Ashburn, Virginia with branch offices across the country. IBTS’s work is guided by a Board of Directors made up of government officials appointed by five of the most highly respected, grassroots, state and local governmental associations, including the Council of State Governments (CSG), International City/County Management Association (ICMA), National Association of Counties (NACo), National Governors Association Center for Best Practices (NGA Center), and National League of Cities (NLC).