Page 16 - DEC2022

Local communities benefit from economic growth,
increased building resiliency, reduced energy and water
demand, and redevelopment of older buildings. Reuse
and repurposing of existing buildings can spark a
revitalization of surrounding properties.
In addition, TX-PACE helps communities increase their
resilience to natural disasters, reduce carbon emissions,
meet climate change goals, and conserve water while also
improving building stock, thus contributing to economic
development, including job creation. Local governments
support TX-PACE because it’s an economic development
initiative that lowers the cost of doing business in their
community. It encourages new business owners to invest
Buddy Holly Hall, World class performing arts and education in the area and creates jobs using the local workforce. TX-
facility in the City of Lubbock, $20.8 Million, Nonprofit PACE projects also have a positive impact on air quality by
creating healthier, more livable neighborhoods.

Continued Growth and Success
Since its formation in 2015, TPA has facilitated more
than $329 million in clean energy and water-saving
investments in commercial buildings across the state.
These projects demonstrate that TX-PACE financing is a
perfect fit for a wide variety of uses, from office, retail,
hospitality, multifamily, and entertainment venues, as well
as warehouse, storage, and industrial facilities. The size

16 NBIZ ■ December 2022