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PACE Funding for Water Efficiency in the ICI Sector

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Presentation by Jonathon Blackburn of Texas PACE Authority at the 2017 Gulf Coast Water Conservation Symposium.

Published in: Environment
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PACE Funding for Water Efficiency in the ICI Sector

  1. 1. PACE FINANCING PACE FUNDING FOR WATER EFFICIENCY IN THE ICI SECTOR
  2. 2. + HIGH CAPITAL COST LOW WATER PRICES = LONG PAYBACK
  3. 3. LOWER Utility Costs INCREASE Net Operating Income Bottom Line: Increased Building Value
  4. 4.  100% LONG TERM FINANCING  ENERGY AND WATER EFFICIENCY
  5. 5. How PACE Works Property owner repays loan through property assessment Financing provided to property owner to pay for energy project Property owners voluntarily sign-up for financing and install energy/water projects City or county creates type of assessment district
  6. 6. ELIGIBLE PROPERTIES  OFFICE/RETAIL  INDUSTRIAL  MULTIFAMILY (5+ UNITS)  NONPROFITS
  7. 7. NOT ELIGIBLE NEW CONSTRUCTION • i . e . Greenfield GOVERNMENT PROPERTY • Includes school districts, water authorities, etc SINGLE FAMILY RESIDENTIAL
  8. 8. ELIGIBLE MEASURES HVAC modification or replacement Automated control systems LED Lighting Insulation Windows and doors Caulking, weather-stripping or air sealing Low Flow Water Fixtures Reclaimed Water Systems Rainwater collection On site power generation (CHP, Microgrids, solar, etc.) Other
  9. 9. CASH FLOW APPROACH: OWNER Example: $1.1M Chiller Upgrade, Savings $125K/yr ($1,200,000) ($1,000,000) ($800,000) ($600,000) ($400,000) ($200,000) $0 $200,000 $400,000 0 1 2 3 4 5 6 7 8 9 10 Cumulative Cash Flow Self-Funded Option Conventional Loan Option PACE Loan Option
  10. 10. OTHER CONSIDERATIONS  TRIPLE NET LEASE PASS-THROUGH  TRANSFERS ON SALE  TAX TREATMENT  NO ACCELERATION ON DEFAULT  NO PERSONAL GUARANTEE  FUNDS AVAILABLE FOR CONSTRUCTION
  11. 11. B A R T O N C R E E K R O U N D R O C K O U T L E T S L A K E L I N E 2.4 MILLION GALLONS PER YEAR
  12. 12. MALL UPDATES M e a s u r e s :  E x t e r i o r L E D s  H V A C  V F D s  B A S  W e a t h e r i z a t i o n o f b u i l d i n g s h e l l  L o w f l o w w a t e r f i x t u r e s T o t a l P r o j e c t C o s t : ~ $ 4 M A n n u a l S a v i n g s : $ 5 0 0 , 0 0 0
  13. 13. WHERE IS PACE? Live  City of Dallas  Travis County  The Valley  Williamson County  Fort Bend County  El Paso County  City of Houston and ETJ  Brazos County  Nueces County  Hays County Next in Line  Bexar County  DFW Counties
  14. 14. TEXAS’ OPEN-MARKET PACE PROGRAM ADMINISTRATOR www.TexasPACEAuthority.org

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