Page 14 - NBIZ Magazine 2022 February

upfront capital” resulting in “numerous benefits including Figure D
increased property value, lower operating costs, and better
financing terms.” The city met its CAP goal of doubling
the number of PACE projects, with a total TX-PACE in-
vestment of over $33M in the city. Despite a now two-year
pandemic, the Texas PACE market continues to grow. In
2021, nine communities across the state benefited from 15
TX-PACE-financed energy and water-saving investments
totaling $56,618,209 in property improvements across a
wide variety of property types, including but not limited
to hotels, multifamily housing, and retail and office space
(See Figure D- TX-PACE Projects By Type).

Using TX-PACE For Environmental, Social, and
Governance Requirements
The relevance of the TX-PACE program only
increases as real estate investors address the risk of
climate change, the impacts of COVID on real estate, TPA’s transparent and public service model in the
and the increasing prominence of environmental, delivery of PACE to Texas property owners makes
social, and governance (ESG) requirements of investors tremendous sense - once property owners discover the
and tenants. Energy and water conservation and onsite benefits of TX-PACE. TPA will continue to work with local
generation enabled via increased cash flow through governments, sustainability and economic development
the TX-PACE program makes the TX-PACE an ESG tool experts, and organizations to make the TX-PACE pro gram
without comparison. a well-known, utilized resource and solution.

PROJECT SNAPSHOT: n TX-PACE Financing: $5 Million
Travis Building 10 story office building plus 6 story parking garage
The city of San Antonio, Alamo Area Council of 63 multi-family units
Governments PACE Program Dedicated retail space on ground floor
n Improvements
Reflective Roofing
LED Lighting
Plumbing Modifications
HVAC

n Energy Savings: 396,298 kWh
• Water Savings: 70,200 gallons
• Natural Gas Savings: 233 BTU
• Avoided CO2: 219 tonnes
• Clean Energy Jobs Created: 58
• Projected Savings in Energy Costs: $8.4 million

“This first PACE project aligns with SA Climate
Ready. The City Council’s establishment of PACE was
one of the first strategies implemented from that
plan. We’re thrilled that the TX-PACE program is in
San Antonio and that we have our first project on the
books. PACE provides our business community with
new opportunities to finance retrofits and implement
sustainable practices in a manner that saves money and
creates jobs. This is an imperative step in building a
city that is competitive, resilient, and most importantly,
climate-ready” Doug Melnick, City of San Antonio Chief
Sustainability Officer.

14 NBIZ ■ February 2022