TERRELL, Texas — During the October 10th Terrell City Council meeting, the council issued a proclamation for Hispanic Heritage Month and entered into an agreement with the Texas Property Assessed Clean Energy Authority (PACE), a Texas nonprofit business corporation, among other things.
TERRELL, Texas — During the October 10th Terrell City Council meeting, the council issued a proclamation for Hispanic Heritage Month and entered into an agreement with the Texas Property Assessed Clean Energy Authority (PACE), a Texas nonprofit business corporation, among other things.
PACE was authorized by the 83rd Texas Legislature in 2013 to help with clean energy and reduced water consumption.
According to the PACE Authority website, PACE is a financial tool that “incentivizes Texas’ property owners to upgrade facility infrastructure with little or no capital outlay.” Since its inception, numerous local governments have adopted the utterly voluntary program.
“TX-PACE programs enable owners to lower their operating costs and use the savings to pay for eligible water conservation, energy efficiency, resiliency, and distributed generation projects,” states the website. “Owners gain access to private, affordable, long-term (typically 10-20 years) financing that is not available through traditional funding avenues.”
The Terrell City Council held a public hearing on the item tonight and then considered the matter for final approval. The vote to approve the resolution was a unanimous vote of those present. Council Member Phil Robison joined the Council Meeting via Zoom and lost connection before the vote. The vote authorizing the City Manager to enter into and execute the agreement with PACE was passed unanimously by those present.
Under this agreement, property owners will enter into financing agreements with the PACE Lender and pay back the cost during a set period. PACE will allow property owners to invest in older buildings. The city labels it as an economic development program.
The Service Provider, Texas Property Assessed Clean Energy Authority, will be responsible for community outreach, including maintaining a website and project database, providing information in English and Spanish, listing interested and qualified lenders on the website, train contractors and third-party reviewers on how to apply for PACE financing, and list trained providers on the website for property owners to find quickly.
Property owners must apply and meet eligibility requirements to qualify.
Other cities in Texas have entered into agreements with PACE, such as Fort Worth, San Antonio, Sherman, and Red Oak.
Red Oak, a city in Ellis County with a population similar to Terrell, entered into an agreement with PACE in 2022. According to the PACE website, one project has been completed, which resulted in 83 new jobs, 4,200,000 gallons of water saved annually, and 136 tonnes of C02 reduced annually.
In a time when businesses and governments are finding ways to use cleaner energy sources and conserve resources, PACE is there to help make goals a reality and to help extend payback time past traditional timeframes.
The City Council also discussed and reappointed a Tax Increment Reinvestment Zone member. The Zoning Board of Adjustments and Civil Service Commission appointments will take place at a later meeting.
They also heard reports on Fire Stations #2 and #3’s projects and the repairing of Apache Trail and Downtown Landscape Services.