What is PACE?

PACE is an innovative financing program that enables owners of commercial and industrial properties to obtain low-cost, long-term loans for water conservation, energy-efficiency improvements, and renewable retrofits. The PACE statute, SB 385, authorizes municipalities and counties in Texas to work with private sector lenders and property owners to finance qualified improvements using contractual assessments voluntarily imposed on the property by the owner. The term of a PACE loan may extend up to 20 years, resulting in utility cost savings that exceed the amount of the assessment payment. As a result, improvements financed through PACE generate positive cash flow upon completion with no up-front, out-of-pocket cost to the property owner. If the property is sold before the full amount of the PACE loan is repaid, the repayment obligation automatically transfers to the next owner because the lien securing the PACE assessment follows title to the property.
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PLATINUM MEMBERS

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SECO
Thompson & Knight
Established in 1887, Thompson & Knight is a full-service law firm with a long and distinguished tradition of exemplary service to our clients and communities around the world.
Rockefeller Brothers Fund
Founded in 1940, the Rockefeller Brothers Fund advances social change that contributes to a more just, sustainable, and peaceful world.
SECO
As the state energy office, SECO partners with Texas consumers, businesses, educators and local governments to reduce energy costs and maximize efficiency.