PACE program expanded

The owners of commercial, industrial and multi-family residential properties (with five or more dwelling units) will soon get additional help with water conservation and energy efficiency improvements, thanks to the expansion of the county’s PACE program.

PACE (Property Assessed Clean Energy) is a financial tool that, according to its website, “incentivizes Texas’ property owners to upgrade facility infrastructure with little or no capital outlay.” Participants in the program gain access to long-term financing — typically 10 to 20 years — that is not available through traditional sources.

The expansion of the program in Hays County, to be administered by Lone Star PACE was announced Tuesday by Pct. 3 Commissioner Lon Shell. “Hays County continues to be one of the fastest-growing counties in the United States,” Shell said. “PACE offers a new approach towards encouraging our community to invest in energy and water efficiency upgrades that will help to preserve and protect our natural resources and ensure that generations will continue to enjoy local landmarks such as Blue Hole, Jacob’s Well and the Blanco River. County leadership is committed to encouraging conservation while supporting local businesses and the people they serve.”

Lone Star PACE is the only Registered Municipal Advisory firm offering PACE administration in Texas and has more than 15 years of experience administering government financing programs and more than $15 billion in economic development, public benefit and environmental projects nationwide.