CANDELAS FORMS NEW GREEN ASSESSMENT DISTRICTS

Arvada, Colorado – May 18, 2010 – On May 4, 2010 the voters for the metropolitan districts located within the boundaries of 'Candelas', Arvada's newest sustainable master-planned community, passed referendums to establish a new 'green assessment district'.

This new district will make long term financing of renewable energy systems available to all homeowners purchasing a new home in Candelas without increasing the purchase price of the home. Moreover, in contrast to other renewable energy programs, the homeowner will own the systems and as a result may realize the federal tax credit benefit available to them when installing renewable energy systems. And over the long-term homeowners should realize significant energy cost savings if energy costs continue to increase. Creig Veldhuizen, Principal of Terra Causa Capital and a Manager of the Candelas development project said "As a cutting edge new sustainable community we are seeking ways to differentiate ourselves in the market and also to deliver green solutions to our future homebuyers. To our knowledge, we are the first large scale project in the state to leverage new laws that allow the formation of special assessment districts which are used solely to finance renewable energy systems and other energy efficiency improvements. This tool will allow us and our homebuilding partners to deliver homes equipped with renewable energy systems, such as solar PV panels and ground source heat pumps, to our homebuyers at no additional cost built into the home purchase price. Also, the financing structure employed through the district will allow us to demonstrate a tremendous economic benefit to our customers while delivering a mechanism through which we as the developer, our builders, and homebuyers can all participate in the green economy in a meaningful way."

For more information about Candelas please contact us.