PROPERTY ASSESSED CLEAN ENERGY (PACE) PROGRAM
The Property Assessed Clean Energy (PACE) program is an innovative financing tool that enables owners of commercial, industrial and multi-family residential properties to obtain low-cost, long-term loans for water conservation, energy-efficiency and renewable retrofits to their facilities. The 2013 Texas PACE statute, Chapter 399, Local Government Code, authorizes cities and counties to create a local PACE program and work with private sector lenders and property owners to finance qualified improvements using contractual property assessment. This program has been found to increase property values, encourage business retention and expansion, update aging building stock and increase the environmental efficiency of facilities in the community. Additional information regarding Tarrant County's PACE program, can be found on the Tarrant County PACE webpage.
The Tarrant County and Texas PACE reports are included below for public review.