DEPARTMENT: Economic Development
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT:
Conduct a public hearing regarding the adopted Resolution of Intent to establish a Property Assessed Clean Energy (PACE) program within the San Antonio city limits along with consideration to authorize an Ordinance to Establish a City PACE program.
SUMMARY:
Pursuant to the State of Texas Property Assessed Clean Energy (PACE) Act, staff is requesting City Council conduct a public hearing regarding the adopted Resolution of Intent to establish a PACE program within the San Antonio city limits along with consideration to authorize an Ordinance to Establish a City PACE program. The Texas PACE Act and proposed City PACE Program is designed to promote the City's sustainability and economic development efforts by establishing an innovative financing tool that allows owners of commercial, nonprofit, industrial, and large multi-family residential properties access to low-cost, long-term loans to conduct energy efficiency and water conservation improvements fixed to real property. If City Council adopts the Ordinance to Establish a City PACE program, the Alamo Area Council of Governments (AACOG) will administer the City's PACE program through an Interlocal Agreement previously approved by City Council.
BACKGROUND INFORMATION:
Passed by the Texas legislature in 2013, the Property Assessed Clean Energy (PACE) Act created an innovative financing tool that allows owners of commercial, nonprofit, industrial, and large multi-family residential properties access to low-cost, long-term loans to conduct energy efficiency and water conservation improvements fixed to real property. Since the establishment of the Texas PACE Act, over 35 counties and cities have implemented the program in their jurisdictions resulting in 26 executed projects valued at over $100 million in loans.
The PACE Act allows a local government to designate an area within its legal j...
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