Property Assessed Clean Energy Act To Be Reviewed by the City of Austin via Commercial Property Executive

Texas legislation was modified on June 19 by Governor Rick Perry to allow commercial and industrial building owners to access low-cost, long-term financing in the private sector for energy-efficiency upgrades and water conservation. With his signature the PACE program became effective immediately.

PACE (the Property Assessed Clean Energy Act) is an initiative that is pro-businesses, pro-jobs and pro-environment, offering government loans for periods of up to 20 years to existing structures on residential, commercial, industrial, or other real property. More details about the program can be found on Keeping PACE in Texas.

To access the program, those interested have to present an improvement project to a third party administrator employed by the government. The review results must show that the utility savings reimburse the initial investment.

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