Lone Star PACE, a leader of Texas’ Commercial Property Assessed Clean Energy (C-PACE) program, has been selected as a program administrator for Montgomery County’s newly established C-PACE program.
The Montgomery County Commissioners Court approved Lone Star PACE as an administrator during its May 27 meeting, officially launching a program that enables commercial property owners to access low-cost, long-term financing for energy-efficient, water-saving and renewable energy improvements.
Lone Star PACE President Lee McCormick said: “We are honored to assist Montgomery County in launching its C-PACE program. As one of the fastest-growing counties in Texas, Montgomery County stands to benefit significantly from increased investment in sustainable, energy-efficient infrastructure. This program will support economic growth, job creation and resource conservation throughout the region.”
Montgomery County joins a growing list of Texas jurisdictions that have adopted C-PACE as a tool to encourage private investment in sustainable building improvements. The program allows developers to finance up to 35% of their capital stack by incorporating high-efficiency HVAC, solar energy, improved building insulation, low-flow plumbing and more.
Montgomery County Judge Mark Keough said: “Montgomery County is committed to smart growth strategies that strengthen our economy while preserving the natural resources that make this region so special. By launching a C-PACE program, we’re giving local business owners access to a powerful financing tool that will support energy efficiency, job creation and long-term economic resilience.”
The addition of Montgomery County expands Lone Star PACE’s footprint to 25 cities and counties across Texas. Its partnerships with local governments, property owners and capital providers have helped facilitate more than $350 million in C-PACE assessments tied to projects worth a combined $1.5 billion.