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Texas PACE Authority briefs Limestone County on commercial financing option for energy, water and resilience projects
Summary
The operating officer of the Texas PACE Authority briefed commissioners on PACE financing, explaining that projects are privately financed, secured by a local assessment lien and do not require county budget funds; the board took the item as an informational briefing and did not act.
The operating officer of the Texas PACE Authority presented an informational briefing on commercial Property Assessed Clean Energy (PACE) financing, telling the Limestone County Commission that PACE lets commercial property owners secure private, long-term financing for energy- and water-efficiency projects that is repaid via a local assessment lien on the property.
The presenter explained that the model converts what would be an unsecured equipment loan into a secured loan using a local assessment lien, and emphasized that "by design this does not cost the county money," because the administrator collects fees from project transactions rather than the county bearing ongoing administrative costs. He described the typical adoption process under the local government code: an intent resolution to set a public hearing, a publicly noticed hearing, and a subsequent resolution to establish the program; the two-step requirement exists to ensure public notice and a hearing before the program is adopted.
The briefing included examples of projects that have used PACE financing elsewhere — from mechanical-system replacements in older commercial buildings to repurposing manufacturing space and new hotel construction — and the presenter said the Texas PACE Authority can serve as program administrator under a professional services agreement so counties need not create a new department.
Why it matters: PACE financing can enable private property owners to make long-term investments in efficiency and resilience without county general-fund spending. The briefing outlined required local steps, the administrator role and examples of qualifying projects.
What comes next: The presentation was informational and no action was requested. If the county wishes to proceed, the next steps would be to place an intent resolution on a future agenda, hold a public hearing and, at a later meeting, consider a resolution to establish the program.
