North Central Texas Property Assessed Clean Energy (PACE) Updates
Open Now: Request for Statement of Qualifications for Regional PACE Program
NCTCOG has released a Request for a Statement of Qualifications for contractors with expertise in administrating a PACE program to assist in developing the NCTCOG Regional PACE Program. Specifically, statements should address the ability to develop the types of documents required to apply for and receive funding through the PACE program. These documents will ultimately be used to help property owners understand the procedures of the PACE financing program and the long-term utility cost savings available to property owners who make energy- efficient improvements and retrofits.
In the NCTCOG region, seventeen cities and nine counties have established their own PACE programs in partnership with a PACE Administrator. The NCTCOG Regional PACE Program seeks to provide a mechanism by which local governments not already covered by a city or county PACE program can easily participate by signing an interlocal agreement with the selected PACE Administrator.
The request will be open until March 17, 2025.Potential contractors may view the full solicitation on NCTCOG's Open Solicitation Webpage.
PACE Adoption in North Central Texas Story Map Updates
In December 2023, NCTCOG debuted the PACE Adoption in North Central Texas Story Map as a way to highlight PACE programs and PACE-financed projects within the North Central Texas region. The story map includes answers to frequently asked questions, simple steps to get started, and serves as a visual representation of the region's pursuit of water and energy efficiency. Since then, NCTCOG has made biannual updates to the Story Map to highlight continued PACE efforts in the region.
This past fall, NCTCOG worked with Texas PACE administrators to gather information on new PACE projects that continue to showcase the possibilities in energy and water conservation. NCTCOG has added those new projects to the "PACE Projects" map, housed within the Story Map. Notable additions include the Harwood Building 14 and the HALL Arts Hotel. In addition, a separate table highlighting all PACE projects has been added to the Story Map. These projects are made possible due to PACE's low-risk financing that allows property owners to make energy and water-efficient upgrades to commercial, industrial, and select residential properties.
New updates to the PACE Adoption in North Central Texas Story Map can be found by clicking the button below and on the "PACE Program" page on the Conserve North Texas website.
Keeping PACE in Texas' PACE in a Box Updates Underwriting Standards
In November 2024, Keeping PACE in Texas began reviewing the PACE in a Box Underwriting Standards to make updates under new leadership. The result of this review period is an updated Keeping Pace in Texas PACE in a Box Document Library, finalized on February 14, 2025. Updates to the underwriting standards include:
LTV: The Loan to Assessed Value ratio recommendation is changed from 25% to 35%; banking regulations regarding appraisals must be followed in all PACE projects
SIR: The cost side of the savings to investment ratio will no longer include the cost of interest; SIR waivers are not permitted
Principal: Principal payments must begin no later than five years after closing (up to 3 years for construction and up to two years for stabilization if needed; up to 3 years for stabilization in a refinance, if needed)
Keeping PACE in Texas is a non-profit business association whose goal is to promote uniform PACE programs throughout Texas. The organization accomplishes this through the PACE in a Box mechanism. First published in 2014, PACE in a Box is a "plug and play" model program that provides templates and best practices in PACE administration to promote consistent and sustainable Texas PACE programs.
Because these new documents are meant to work in unison with all other documents in the PACE in a Box library, local governments may need to update their PACE report to adopt the new changes. Keeping PACE in Texas encourages local governments to adopt the updates in their entirety to remain cohesive and consistent with all PACE in a Box standards.
