November 4th, 2015 City of Houston Approves PACE District for Houston ETJ

On November 4th, the City of Houston, with a unanimous vote, approved a PACE district. Property owners in the Houston Extra Territorial Jurisdiction are now able to take advantage of PACE financing.

PACE (Property Assessed Clean Energy) is a public private partnership using a financing method that re-characterizes a property improvement loan (that saves energy or water) into a Loan Assessment recorded with the local taxing district that is then repaid via Annual Assessments over a number of years, reflecting the average life of the improvements being financed. The loan is fixed rate, cannot be accelerated and is for 100% of the improvements and related costs being financed.

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