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PACE APPLICATION PROCESS HOW TO PUT TOGETHER A PACE PROJECT.

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Presentation on theme: "PACE APPLICATION PROCESS HOW TO PUT TOGETHER A PACE PROJECT."— Presentation transcript:

1 PACE APPLICATION PROCESS HOW TO PUT TOGETHER A PACE PROJECT

2 PREPARING A PACE PROJECT

3 ELIGIBILITY PROPERTIES  Commercial  Includes Industrial, Agricultural, Multifamily w/>5 units, Nonprofits  No New Buildings PROPERTY OWNERS  Privately Owned (No Government Property PROJECTS  Energy/Water Efficiency  Permanently affixed

4 USE OUR ELIGIBILITY SCREENING TOOL

5 Decide on a Project Select a Lender ITPR Mortgagee Consent Select A Contractor Prepare Application Install and Verify Closing

6 Decide on a Project

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11  Insulation  High-efficiency windows or doors  Automated energy control systems  HVAC modification or replacement  Caulking, weather- stripping or air sealing  Light fixture modifications  Water use efficiency improvements  Energy- or water-efficient manufacturing processes and/or equipment  Solar panels  Solar hot water  Gray water reuse  Rainwater collection system

12 Select a Contractor

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14 PACE Listing on GBM

15 Select a Lender

16 Lender List

17 Prepare Application

18 ADMINISTRATION COSTS  $500 APPLICATION FEE  1% ORIGINATION (MIN. $2500)  Paid at closing  0.25% ANNUAL RESIDUAL  Factored as a component of the interest rate

19 Savings to Investment Ratio (SIR) SAVINGS:  Total Energy/Water savings over the life of the project INVESTMENT:  Total amount of assessment (Financing amount)

20 Select an Independent Third Party Engineer (ITPR)

21 Get Mortgagee Consent

22 Close on Financing

23 Required Contracts  Owner and County  Lender and County  Assessment Lien  Mortgagee Consent (If Applicable)

24 Install Project and Verify

25 PACE TOOLS AND RESOURCES

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27 Other Website Tools http://www.texaspaceauthority.org

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