Congregation Beth Israel in Austin recently closed on the first PACE loan in Texas to finance installation of two new chillers, a boiler and thin film on all its windows. Family Eldercare in Austin recently closed on the second PACE loan in Texas to finance a total roof replacement with a cool roof and the installation of a 63 kW solar PV system. Financing for both projects was provided by firm client, Petros PACE Finance, LLC (www.petros-pace.com).
PACE (Property Assessed Clean Energy) is a financing program recently approved in Texas that enables commercial, industrial, large multi-family, and agricultural property owners to obtain low-cost, long-term financing for water conservation, energy-efficiency, and renewable energy projects. Participants repay loans through a property assessment imposed by the local government at the request of the property owner. Contact Alan Cohen of Stahl, Bernal, Davies, Sewell & Chavarria or visit the Texas Pace Authority website (www.texaspaceauthority.org) to learn more about PACE in Texas.