Unanimous approval paves the way for resource conservation and job creation in fast-growing county
DALLAS, Nov. 20, 2024 (GLOBE NEWSWIRE) — Lone Star PACE, a leading administrator of Texas’ Commercial Property Assessed Clean Energy (C-PACE) program, is proud to announce it has added Brazos County to its list of approved jurisdictions.
Brazos County Commissioners Court unanimously approved Lone Star PACE as a program administrator during its Nov. 19 meeting. Lone Star PACE can now partner with property owners in Brazos County to implement C-PACE financing, which supports resource conservation by helping fund energy and water-efficient upgrades at commercial buildings.
Lee McCormick, president of Lone Star PACE, said: “We could not be more thrilled to join Brazos County as an administrator of its Commercial Property Assessed Clean Energy program. The expansion of its existing program will bring more jobs and prosperity to fast-growing Brazos County while also reducing strain on the state’s energy and water resources.”
Lone Star PACE is an authorized C-PACE program administrator in 23 cities and counties across Texas. The company works closely with property owners, municipalities and capital providers to facilitate the C-PACE process, which has resulted in $300M in C-PACE assessments for projects worth a collective $1.5B.
Glenn Silva, COO of Lone Star PACE, said: “Demand for C-PACE financing has exploded in recent years due to capital markets dislocation happening alongside a renewed focus on sustainability in commercial real estate. Brazos County’s commitment to C-PACE ensures it will have adequate resources to support its growing population, and we are honored to be part of the area’s promising future.”
Commercial Property Assessed Clean Energy allows property owners to access low-cost, long-term financing for energy and water conservation systems at commercial buildings. Property owners can use C-PACE to finance new construction, renovations, retrofits or recapitalizations.
About Lone Star PACE
Lone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs in Texas. We help local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, C-PACE capital providers, contractors and other stakeholders. Our goal is to promote sustainability as well as increased property values while positively impacting cash flow and utility savings. For more information, visit our website.
Media Contact
Olivia Lueckemeyer
Director of Marketing & Media Relations at Lone Star PACE
Olivia@LoneStarPACE.com
