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San Antonio City Council Approves New Financial Tool for Businesses that promotes Sustainable Initiatives

Published on Thursday, March 5, 2020

San Antonio City Council Approves New Financial Tool for Businesses that promotes Sustainable Initiatives

CONTACT: Economic Development Department
Erin Nichols (210) 207-3996
Erin.Nichols@sanantonio.gov

 

SAN ANTONIO (March 5, 2020) – Today, San Antonio City Council approved the Property Assessed Clean Energy (PACE) program, an innovative financing tool that gives owners of commercial, nonprofit, industrial, and large multi-family residential properties access to low-cost, long-term loans to conduct energy efficiency and water conservation improvements to real property.

 

“Through PACE, business owners can make sustainable improvements to their property, which result in increased savings.” said Mayor Ron Nirenberg. “As San Antonio prepares to welcome one million new residents by 2040, we must continue to adopt programs that build an infrastructure where business models and sustainability goals are aligned as outlined in the Climate Action and Adaptation Plan.”

 

Since the establishment of the PACE Act by the Texas Legislature in 2013, over 35 counties and cities in Texas have implemented the program in their jurisdictions, resulting in over $100 million worth of projects. The Houston Advanced Research Center (HARC) analyzed 20 PACE projects from 2016-2019 and determined they resulted in the creation of approximately 600 jobs, saved more than 67,000K gallons of water, and eliminated nearly 46,000 tons of carbon dioxide.

 

“PACE is an extraordinary program that will further promote the City’s economic development and sustainability initiatives,” said City Manager Erik Walsh. “Through this new program, local eligible property owners now have access to a tool that incentivizes water and energy retrofits, which will in turn improve the quality of our environment, create new employment opportunities for our residents, and restore properties in disrepair.”

 

PACE has been identified as a priority strategy in the SA Tomorrow Sustainability Plan, the recently adopted SA Climate Ready Climate Action and Adaptation Plan, and is a a key action of the American Cities Climate Challenge, a two-year program to significantly deepen and accelerate their efforts to tackle climate change and promote a sustainable future for their residents.

 

The City has entered into an interlocal agreement with Alamo Area Council of Governments (AACOG) to administer the PACE program within San Antonio city limits. As part of the agreement, AACOG will issue a solicitation to contract with an organization to administrator the program. Additionally, AACOG will conduct extensive marketing outreach efforts to stakeholders and in particular to small, minority, veteran, and women-owned businesses.

 

“The PACE program is the first measure the City will adopt from our Climate Action and Adaptation Plan. PACE not only aligns with the plan, but it also promotes economic development,” said District 7 Councilwoman Ana Sandoval. “As leaders, we must ensure that all our businesses and non-profits have access to economic opportunity, while preserving our environment for future generations.”

 

Those interested in seeking PACE financing can call 210-207-8080 or visit our website at www.sanantonio.gov/EDD/Development-Opportunities/Incentives/PACE. You can also visit www.aacog.com.

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