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City of Dallas Eliminates PACE Fees - Latest News - TAAHP
The City of dallas updated its program. The Dallas Office of Economic Development invested considerable resources to promote its PACE program since 2016, facilitating $127 million in energy and water saving investment for the City’s businesses and nonprofits. The City determined that once the program was well established, the fee was no longer needed, so it has been eliminated.
The City of Dallas also updated its PACE report with language facilitating HUD consent on HUD and FHA multifamily PACE projects, and adopted technical and conforming changes reflecting program and language improvements since the documents were approved in 2016.
What is PACE?
WHAT IS PACE? Property Assessed Clean Energy (TX-PACE) is a proven financial tool that incentivizes Texas’ property owners to upgrade facility infrastructure with little or no capital outlay. Approved by State legislation and established by local governments, 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. Owners gain access to private, affordable, long-term (typically 10-20 years) financing that is not available through traditional funding avenues.
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