City Council is considering adoption of the Texas Property Assessed Clean Energy (TX-PACE) Program for businesses as sponsored by the Alamo Area Council of Governments. The Texas PACE Authority describes the program as follows:
Texas Property Assessed Clean Energy (TX-PACE) enables commercial property owners "to obtain affordable, long-term financing covering up to 100 percent of the cost for energy efficiency, water conservation, and on-site generation technologies. TX-Pace secures private financing for a term as long as the projected useful life ofthe improvements, resulting in unitility cost savings that exceed the amount of the repayment. Owners can modernize commercial properties without the fear of over-investment, transferring the TX-PACE repayment obligation to new ownership if the property is sold.
A Public Hearing will be held Monday, April 26 at 6 p.m. at the Regular City Council meeting at the Balcones Heights Justice Center/City Hall followed by consideration to adopt the program. Any interested parties may attend and provide comment.