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Lone Star PACE presents program to commissioners; court asks county attorney to review documents
Summary
Lone Star PACE gave an overview of property-assessed clean energy (PACE) financing and urged Grimes County to consider establishing a program; the court asked Lone Star to deliver program documents to the county attorney for legal review before scheduling further action.
Representatives from Lone Star PACE briefed Grimes County commissioners on Wednesday about PACE, a financing mechanism that attaches long-term private capital to qualified commercial properties to fund energy- and water-efficiency projects.
Ryan McCormick, a Lone Star PACE principal, described the program as private capital for private projects with a governmental assessment component that secures repayment. McCormick said PACE can finance improvements such as HVAC replacement, windows, roofing, lighting and other measures that lower utility consumption, and that projects typically use 20- to 30-year terms to improve cash flow for property owners.
Why commissioners…
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