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Glenn Heights council opts to pursue city-run Texas PACE program
Summary
After a presentation from the Texas PACE Authority, the council voted 6-0 to pursue Option 2 — establishing a city-level PACE program for financing energy, water and renewable projects in Glenn Heights.
City Manager Clifford Blackwell introduced Texas PACE Authority representatives at the May 19 meeting. Dr. Teresa Smith, director of PACE transactions, described PACE (Property Assessed Clean Energy), consumer protections (third-party engineering review and a savings-to-investment ratio), eligible property types and how assessments are recorded and collected.
Council discussed four options for Glenn Heights — support Dallas County’s program, establish a city-level program, encourage Ellis County to create a program, or wait for the North Central Texas Council of Governments (NCTCOG). After Q&A on lien priority, foreclosure implications and fees, Councilmember (mover) made a motion to adopt Option 2 (establish a city-run program) and the motion passed 6-0. Dr. Smith told council that administrative fees are generally included in financing (about 1% of the first $5 million at closing, then smaller tiers) and that interest pricing tracks the 10-year Treasury; she noted Texas PACE has completed roughly $670 million in transactions to date.
