business & professional

What separates the AFHU
Hebrew University Gift Annuity
from all others?

74

MEW
Vision.

First-of-its-kind clean energy project
under way at 1-800-Law-Firm.

Robin Schwartz
I Contributing Writer

4

D

SENSORY SUBSTITUTION: Professor Amir Amedi of The Hebrew University
of Jerusalem's Edmond and Lily Safra Center for Brain Sciences turns
sound into sight for the blind. See video: afhu.org/CGA1

A secure AFHU Hebrew University
Gift Annuity provides high fixed-rate
lifetime income for you, and propels
discoveries of vast importance for
Israel and the world.

This was certainly the vision of
Albert Einstein, one of the founders
of The Hebrew University of Jerusalem.
Einstein imagined a catalyst for
research that would build a nation
and improve the world.
When you create a secure AFHU
Hebrew University Gift Annuity—
with its high lifetime return, tax
deductions and annuity payments
that are substantially tax-free—
your annuity drives Israeli-led
innovation toward a better future.
Help propel a catalyst for research
and learning that strengthens Israel
and transforms our world.

HIGH FIXED-RATE LIFETIME
INCOME FOR YOU. HUGE RETURNS
FOR ISRAEL AND THE WORLD.

AFHU Hebrew University
Gift Annuity Returns

Age

67

7o

Rate
6.2%

6.5%
7.1%

75
8o
85

9.5 %

90

11.3%

8.o%

Rates are calculated based on a single life.
Cash contributions produce annuity payments
that are substantially tax-free.

CALL OR EMAIL NOW.
THE RETURNS ARE GENEROUS.
THE CAUSE IS PRICELESS.

For information on AFHU Hebrew University
Gift Annuities, please call AFHU Midwest
Region Executive Director, Judith Shenkman at
312)
.
329-0332 or email: jshenkman@afhu.org

The Hebrew University of Jerusalem

Research engine for the world. Engine of growth for a nation.

AF liU

AMERICAN FRIENDS OF
THE HEBREW UNIVERSITY

500 N. Michigan Avenue, Suite 1530
Chicago, IL 60611 • 877-642-AFHU (2348)
afhu.org/CGA1

38

ay 8 • 2014

Picking Up
The PACE

rivers whizzing by the
1-800-Law-Firm building on
Lahser Road in Southfield will
see construction crews hard at work
for the next several months.
Right now, contractors are in the
process of installing a new roof on
the 100,000-square-foot building that
houses law offices, a technology com-
pany and a school. Next, solar panels
will be going in — then, wind tur-
bines, a solar carport, electric vehicle
charging stations, LED lighting and
other green innovations.
The more than $1 million worth of
planned work is all part of Michigan's
first privately financed Property
Assessed Clean Energy (PACE) project
administered by Andy Levin, president
of Lean & Green Michigan, a company
that provides financing solutions for
energy efficiency projects.
"PACE is a new
way to help corn-
panies make clean
energy improve-
ments to their
businesses using
the property tax
system to finance
these projects:'
Andy Levin
Levin explained.
"It's a public/private partnership, and
it's a game changer because it enables
lenders to finance projects over 10 to
20 years. Many clean energy projects
don't pay off for eight or 10 or 15
years, while traditional commercial
loans generally have terms of only
three to five years. This mismatch
has left many valuable clean energy
projects stuck with no effective way to
finance them:'
Levin hopes that will no longer be
the case. Property owners in partici-
pating cities/counties who are interest-
ed can start by contacting their local
PACE program, which connects them
with contractors and helps arrange
financing.
In December 2010, Michigan passed
legislation authorizing local govern-
ments to create PACE districts. So

far, Wayne, Washtenaw, Macomb,
Huron, Ingham and Saginaw counties
have signed on with Levin's Lean &
Green Michigan, along with the cit-
ies of Southfield and Rochester Hills.
Ann Arbor has a district of its own.
The idea first emerged in California
in 2008; 31 states and the District of
Columbia have since passed PACE
statutes, but many don't yet have active
programs.
"Property owners get an energy
audit of their building to learn where
improvements are needed:' Levin
said. "We connect them with a lender.
Lenders underwrite this and [the
property owner] signs a special agree-
ment saying they're paying the lender
back through their property tax bill
over a period of years. They pay noth-
ing down and the energy savings must
be greater than the payback on the
loan:'
Through this system, the debt also
stays with the property, not the owner.
So, if the building is sold, the new
owner picks up the payments.
Ari Kresch of
Farmington Hills,
CEO of 1-800-Law
Firm, has owned his
building for about
three years. His
national law firm
focuses on consumer
protection, property
tax appeals, criminal
defense work, workers compensation
cases, malpractice and class-action
lawsuits. Kresch jumped at the Earth-
friendly opportunity; construction is
expected to be complete by mid-July.
"I wanted to leave a lighter footprint
on our planet:' he said. "Because the
building is so visible, I thought I would
set an example for other businesses to

Green Benefits

Those behind this effort point to a
number of green benefits — building
owners can save energy and money,
clean energy contractors get more
work, and the community benefits
from the economic stimulus, increased
property value and a reduction in

