What is PACE?
PACE stands for Property Assessed Clean Energy and is a one of a kind lending program that for the first time ever combines the cooperation of governmental taxing authorities and private lending institutions to offer loans to businesses and other commercial projects seeking to add Solar and other qualified energy upgrades to their properties.
What makes PACE lending special?
All loans with PACE provide 100% financing with no up-front costs—NO MONEY OUT OF POCKET! Zero for the property owner! These loans also receive repayment through a partial assessment of your existing property taxes! Which means this unique program provides essentially FREE positive cash flow and an immediate increase to the property value.
PACE is a unique lending partnership between private finance institutions and governments that allow owners of commercial, retail, industrial, and warehouse properties qualify for financing on Green improvement projects. These loans can be made on any qualified project in the water conservation, energy efficiency, or renewable clean energy fields.
PACE programs create entirely new opportunities through this partnership in creating a loan—with no checks to write, no complicated application process and no new debt loans reported on the balance sheet!
What terms are offered?
The financing terms of PACE are flexible and may extend up to 20 years. Resulting in net cash flow and other operating expense improvements that far exceed the amount of the assessments paid. Bringing almost an immediate positive influence to the bottom line from day 1.
Who Can Participate in PACE?
Any property owner of commercial, retail, industrial, warehouse, agricultural, or residential/multifamily property units located in one of the 29 states where PACE is currently offered including Travis County in Austin, Texas. Any type of business or commercial project that meets requirements will be eligible for this great financing opportunity!
Still want to learn more about PACE?
check out the Travis County PACE website for more information about qualification, benefits, and availability to your business. https://www.traviscountytx.gov/pace