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October 2018 — Property Management Quarterly — Page 21 www.crej.com must now be weighed against other opportunity costs. It often is better to use capital to expand business rather than improve facilities. That is where the use of C-PACE financing can essentially erase the impact of compliance on the build- ing owner or investor, sometimes turning compliance into a legitimate win – a win even the accountants can underscore. Financing energy improvements with C-PACE provides 100 percent of funds, no parent/ owner guaranty and terms up to 25 years. The long-term financing often results in savings from energy and financial benefits that are higher than the additional annual property tax cost. That means the owner real- izes first year gain rather than loss, with zero upfront capital. • Follow the money. When financ- ing on-site solar, the significant tax benefits become important, typi- cally offsetting more than 50 percent of solar’s costs. When the building owner can monetize all the tax equity, PACE financing can be used to capture all of those tax benefits and increase the return on invest- ment. In fact, when roofing upgrades or other improvements such as a covered car canopy are necessary to support solar, many tax advisers conclude that those costs can be offset as necessary for solar – essen- tially getting 50-plus percent rebate on roofing or car canopy. A key reason power purchase agreements are widely used is to achieve lower-cost energy with no use of business capital. In a PPA, the tax benefits flow to the third-party owner of the system. Some of those savings are shared with the building owner to lower the cost of energy. However, PACE financing does not require any upfront capital. And since PACE debt increases property tax, it stays with the property upon sale and provides a fixed or hedged cost of energy for more than 20 years, plus all tax and incentive ben- efits. As you brace yourself for Denver’s new Green Roof Ordinance, you may now find new options and pathways to meet your needs. Additionally, Colorado’s new C-PACE program can in some cases erase the capital bur- den of compliance. ▲ Bringenberg Continued from Page 8 tilating and air-conditioning system operation, building controls and benchmark- ing, low-cost improvements, water efficiency, indoor air and environmental quality, facility electrical systems, and sustainable operations and maintenance practices. Training is available at two levels and upon successful completion of the program, graduates receive a train- ing certificate of comple- tion. Students can take an optional exam at the end of the training series and receive the Certified Building Operator designation, which is aligned with American National Standards Institute/ International Organization for Standardization Standard 17024 for certification pro- grams. • Sustainability facility pro- fessional. This training is pro- vided by local chapters of the International Facility Man- agement Association and is targeted to facility managers and building operators. The training includes classroom and online instruction on organizational strategies for sustainability, tenant engage- ment, communication, finance and portfolio man- agement, energy and water, materials and resources, indoor environmental quality and waste, and site impacts. • BOMI High Performance Certificate. This training is provided through local chap- ters of the Building Own- ers and Managers Institute International and is targeted to building managers. The training includes classroom and online courses in HVAC systems operation, bench- marking, efficient lighting, water efficiency, portfolio management, tenant engage- ment and renewable energy. • GPRO Operations & Main- tenance Essentials. Offered by local chapters of the U.S. Green Building Coun- cil, this training is targeted to property managers and building operators. Course- work includes classroom instruction on fundamentals of green buildings and opera- tions including construction management, electrical sys- tems, HVAC and refrigera- tion, operations and mainte- nance. • BPI Certified Multifam- ily Building Operator. The Building Performance Insti- tute provides certification targeted to operations and maintenance of multifamily buildings. Classroom train- ing is not required. However, individuals who complete training typically perform better on the certifica- tion exam. Topics covered include multifamily building operations and maintenance, energy and water efficiency, occupant health and safety, comfort and durability of materials. In conclusion, the building operator profession is rapidly changing and the demand for trained and credentialed operators is expected to increase substantially over the next 20 years. Building owners and facility manag- ers can get ahead of this change by adopting a work- force development program that focuses on their building operations staff and provides a return on their investment with lower operating costs. Various training and certifi- cation programs are available and can provide your staff the training and credentials required to meet your facil- ity needs today and into the future. ▲ Lewellen Continued from Page 13 Four Decades Of Innovation Flexible, Full-Service, Turnkey Solutions Centric Elevator is a locally-owned, family-led business that’s been maintaining, modernizing and installing commercial, government, hotel, retail and multi-family elevators since 1977, making them one of the largest independent elevator contractors in the Western United States. Centric has earned a reputation for providing exceptional work and excellent customer service on virtually every make and model elevator, escalator and lift. centricelevator.com Government & Education Hotels & Multi-Family Hospitals & O ce Buildings COLORADO 1455 S. Lipan Street Denver, CO 80223 303.477.8300 ARIZONA 5249 S. 28th Place, Ste. 1 Phoenix, AZ 85040 602.470.0208 HAWAII 523 Mokauea St. Honolulu, HI 96819 808.744.5801 OREGON 2855 SE 9th Avenue Portland, OR 97202 503.234.0561 John Bringenberg