Lone Star PACE Selected as Administrator for Dallas County Property Assessed Clean Energy ("PACE") Program

DALLAS, March 10, 2022 /PRNewswire/ -- Frisco-based Lone Star PACE was selected by the Dallas County Commissioners as a Program Administrator for the Dallas County Commercial Property Assessed Clean Energy (C-PACE) program. C-PACE provides 100 percent long-term, low-cost financing for energy and water efficiency upgrades that are secured by a voluntary assessment on the property.

As a Dallas County C-PACE administrator, Lone Star PACE will ensure adherence to program requirements of the county and the PACE Act. Enacted in 2013, the PACE program was established to encourage private sector investment in energy efficiency and water conservation for new construction and retrofits.

"Forward-thinking businesses are recognizing the environmental, societal, and economic benefits (including positive cashflow) provided by the attractive financing earmarked specifically for energy efficiency / renewable energy projects, especially with the push for environmental, societal, and governance (ESG) initiatives," said Lee McCormick, program administrator for Lone Star PACE. "Our primary goal is to promote awareness of the Dallas County C-PACE program and to serve as a main point of contact."

Lone Star PACE will also provide education to various stakeholders, such as commercial property owners, contractors, economic development corporations and chambers of commerce. And special attention will be paid to underserved communities to promote opportunities across all demographics.

C-PACE financing is secured against the long-term asset value of the property, not the owner's private credit, providing non-recourse and very attractive financing to commercial property owners. There is no cost, liability, or additional administration burden to Dallas County or the taxpayers.

For more information about the Dallas County C-PACE program or if you have questions regarding a specific project, contact https://www.lonestarpace.com/.

About Lone Star PACE
Lone Star PACE is a private company based in Frisco, Texas that provides C-PACE—Commercial Property Assessed Clean Energy—a financing solution which helps fund energy and water efficiency upgrades to commercial properties. The company works with cities and counties as a program administrator, enabling energy efficiency, water conservation, and renewable energy upgrades to local communities. City and county managers, property owners, and commercial building contractors can learn more at lonestarpace.com.

Contact:
Lee McCormick
214-256-3121

SOURCE Lone Star Pace