Commissioners Court - Regular

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AI-7900 4.A.5.       
Meeting Date: 11/16/2016  
PACE Program - Resolution of Intent
Submitted By: Tyner Little, Commissioners Court Admin
Department: Commissioners Court Admin  

Discuss and consider adopting a resolution of intent to establish a Property Assessed Clean Energy (PACE) Program in Nueces County; and setting a date & time for public hearing.
PACE is an innovative financing program that enables owners of commercial and industrial properties to obtain low-cost, long-term loans for water conservation, energy-efficiency improvements, and renewable retrofits. The PACE statute, Chapter 399 of the Texas Local Government Code, authorizes 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. The term of a PACE loan may extend up to 20 years, resulting in utility cost savings that exceed the amount of the assessment payment. As a result, improvements financed through PACE generate positive cash flow upon completion with no out-of-pocket cost to the property owner. If the property is sold before the full amount of the PACE loan is repaid, the repayment obligation automatically transfers to the next owner because the lien securing the PACE assessment follows title to the property.
Texas Pace Authority will administer the program at no cost to the County.  The resolution also sets a public hearing at the next Commissioners Court on December 1, 2016, at 9:15 a.m. in the Commissioners Courtroom.

Budget Information
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Account Code(s) for Available Funds
Fund Transfers
Resolution of Intent
Nueces County Report
NC Tax Assessor-Collector - Support Letter


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