PLG, a leading provider of PACE loans, recently arranged a $4.45-million loan for Lawson’s Landing campground in California. The loan is secured by a special assessment and will support the campground’s new wastewater treatment system, solar energy installation, and energy and water efficiency upgrades. These improvements will enhance the campground’s amenities including new restrooms and rental cottages.
Situated on 608 acres in Marin County near Point Reyes National Seashore, Lawson’s Landing offers stunning views of the Pacific Ocean. The PACE assessment was obtained through California Statewide Community Development Authority Open PACE program.
According to Mike Lawson from the family who operates the nearly 70-year-old campground, these additions aim to make it one of Tomales Bay’s top vacation destinations while also aligning with their mission to preserve and protect coastal areas.
The project received approval from California Coastal Commission in April 2020 with an expected completion date of December 2024. Jacob Roth from PLG stated that this transaction showcases both C-PACE financing flexibility as well as PLG’s expertise given its non-traditional asset nature with unique capital structure requirements.”
