Property Assessed Clean Energy

PACE is an innovative financing program that enables owners of commercial and industrial properties to obtain affordable, long-term loans for water conservation, energy-efficiency improvements, and renewable retrofits to their properties. These improvements are financed through voluntary assessments on the property which can last up to 20 years, making the utility cost savings greater than the initial cost of the loan. By limiting the upfront costs to property owners, this funding mechanism eliminates a significant barrier to making water and energy-smart improvements. As the lien securing the PACE assessment follows the property title, if the property is sold before the full amount of the PACE loan is repaid, the repayment obligation automatically transfers to the next owner. The passage of Texas’ PACE Act (S.B. 385, 83R) authorized municipalities and counties in Texas to work with private sector lenders and property owners to finance qualified improvements using contractual assessments voluntarily imposed on the property by the owner. Chapter 399 of the Texas Local Government Code lays out the local adoption model. In the North Central Texas region, seventeen cities and nine counties have established their own PACE programs in partnership with a PACE Administrator. The NCTCOG Regional PACE Program seeks to fill in the gaps across the region by providing a mechanism by which local governments not already covered by a city or county PACE program can easily participate by signing an interlocal agreement with the selected PACE Administrator. NCTCOG is seeking a statement of qualifications from Contractor(s) with expertise in administrating a PACE program, specifically related to preparing the types of documents required to apply for and receive funding through the PACE program. The selected contractor, referred to as Administrator, will develop a library of documents including but not limited to application documents, Standards Manuals, details on lenders and buyers, training materials, and other resources that property owners may need when applying for PACE funding. These documents will ultimately be used to help property owners understand the mechanisms of the PACE financing program and the long-term utility cost savings to allow more property owners to make energy efficient improvements and retrofits.