Rocklin, located just outside Sacramento, CA is named one of the top 50 places in the nation to live. However, it has seen an increase in the cost of living and the housing market as a result of the influx of new residents. The Rolling Oaks Apartments, located in Rocklin Offers 79 safe and secure one-bedroom units for seniors over the age of 62 with limited incomes. The apartments are owned by Volunteers of America and is the meeting place for the senior nutrition lunch program sponsored by the Area 4 Council on Aging.

To take advantage of the available California Solar on Multifamily Affordable Housing program and curb the rising costs of energy, GRID Alternatives was contracted by Volunteers of America to install solar on Rolling Oaks. GRID’s HQ commercial team worked on project development for about one year, which included securing the SOMAH rebate and a low-cost bridge loan from Left Coast Fund - a Vanguard Charitable Donor Advised Fund.

Project Structure

• Energy Resilience Fund secured a $290,500 recoverable grant from Left Coast Fund a Vanguard Charitable Donor Advised Fund to cover the upfront cost of construction.

• The program-related investment was secured by the California Solar on Multifamily Affordable Housing (SOMAH) rebate (assigning the rebate directly to the lender). No other security was issued for the loan.