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this project will help more people see that TX-PACE is not improve its facility’s envelope, lighting, HVAC, water conser-
a typical ‘green’ program focused solely on saving the envi- vation and add solar energy. The resulting savings exceed
ronment, but instead has a focus on improving the financial the total cost of the improvements, enabling HBDi to access
side of a business. TX-PACE can upgrade a building and can operational savings without cannibalizing its core mission
pay for itself.” capital. In East Austin, a $1.6 million TX-PACE project
helps repurpose an old motor court hotel into 307 energy
Equity and the Houston PACE Program and water-efficient studio apartments. Texas nonprofits
The City is committed to ensuring that the Houston utilize TX-PACE without having to raise charitable dollars to
PACE program is accessible to nonprofits and underserved upgrade facilities.
communities throughout the City and its Extra Territo-
rial Jurisdiction (ETJ). Houston Business Development, PACE Resiliency
Inc. (HBDi) is a nonprofit established in 1986 by the City The program also facilitates resilient, efficient multi-
of Houston to stimulate economic growth, support the family housing, as was recently demonstrated in Rockport,
expansion of small businesses, combat community deteri- TX, where a $2.75 million TX-PACE project enabled the
oration and foster employment opportunities for low-mod- construction of 435 high-energy and water-efficient
erate income citizens in the Houston metropolitan area apartment units. “The Pearl Point project was the first
and surrounding counties. HBDi utilized the program to and largest multifamily housing project in the Rockport
area impacted by Hurricane Harvey. The PACE program
provided the final piece of financing needed to move this
project forward and is a great example of how developers
can use PACE to fill a hole in the capital stack and reduce
their overall cost of capital,” said Anne Hill, president of
Stonehill PACE.
The Houston Climate Action Plan and Healthy Buildings
Houston has been on a green building trend for years
and is a leader in ENERGY STAR® and LEED® facilities.
COVID- 19 is forcing changes that amplify the need for
environmentally friendly, resilient and healthy properties.
The Houston PACE program facilitates all three goals while
improving property values and increasing cash flow for
owners and managers and creating jobs for contractors,
engineers, architects, lenders and others.
Have you done the math to see how much your property
is leaving on the table? Today is the day to start working
on including Houston’s PACE program in your real estate
investment analysis to decrease net operating expenses,
increase your internal rate of return (even better) and
increase your asset value (WOW)! N
For more information, contact Charlene Heydinger via
email at charlene@texaspaceauthority.org or visit
www.TexasPACEAuthority.org.
Charlene Heydinger is president of Texas PACE
Authority, the nonprofit administrator of more than
50 Texas PACE programs. Ms. Heydinger also led
the legislative effort for the Texas PACE Act and the
collaboration to create the Texas model program of
PACE best practices. Her previous experience includes
serving as executive director for the Topfer Family
Plaza Hotel Foundation, as vice-president and Washington counsel
El Paso, Texas for Capital Cities ABC, Inc. and on Capitol Hill, where
The utilization of El Paso County’s TX-PACE program generated $9.2 she served as staff in House leadership and on several
million for energy and water-conserving infrastructure improve- House and Senate committees. Heydinger is a member of
ments, freeing up capital that is now being used to rejuvenate the the Texas, Washington, DC, Michigan and U.S. Supreme
historical landmark. Court Bar Associations.

18 NBIZ ■ August 2020