Lone Star PACE Named C-PACE Administrator for Collin County
Lone Star PACE, assisting with low-cost financing for qualified energy and water efficiency upgrades, named program administrator for Collin County C-PACE program.
COLLIN COUNTY, Texas, June 14, 2022 /PRNewswire/ — Frisco-based registered municipal advisory firm Lone Star PACE was selected by Collin County Commissioners Court as the Program Administrator for the Commercial Property Assessed Clean Energy (C-PACE) program. C-PACE provides long-term, attractive financing for energy and water efficiency upgrades that are secured by a voluntary assessment on the property.
Enacted in 2013, the Texas PACE Act was established to encourage private sector investment in energy and water efficiency improvements to commercial properties. Serving as the Collin County C-PACE administrator, Lone Star PACE will ensure adherence to program requirements of the county and the PACE Act.
“Forward-thinking Texas developers and commercial property owners are recognizing the economic benefits provided by the attractive financing earmarked specifically for energy efficiency / renewable energy projects, especially with the push for environmental, societal, and governance (ESG) initiatives,” said Lone Star PACE COO Glenn Silva.
He goes on, “Our primary goal is to provide education to various stakeholders—commercial property owners, contractors, economic development corporations, and chambers of commerce—on the how PACE makes a positive impact on sustainability, property values, and economic development.”
C-PACE financing is secured to the property, not the owner’s private credit, providing truly non-recourse and very attractive financing to commercial property owners. The private C-PACE capital provider (not the municipality) handles billing. There is no cost, liability, or additional administration burden to Collin County or the taxpayers.
Silva concludes, “Lone Star PACE looks forward to serving local businesses and contributing to the economic development of Collin County.”
For more information about the Collin County C-PACE program or if you have questions regarding a specific project, contact Lone Star PACE.
About Lone Star PACE
Lone Star PACE is a private company based in Frisco, Texas that provides C-PACE—Commercial Property Assessed Clean Energy administration—a financing solution to fund energy and water efficiency upgrades to commercial properties. The registered municipal advisory firm serves as an authorized representative on behalf of its municipal clients to provide program administration, facilitating energy efficiency, water conservation, and renewable energy upgrades to local communities. Cities and counties, commercial property owners, capital providers, and contractors can learn more at lonestarpace.com.
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SOURCE Lone Star Pace
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