A Milestone for Abilene: First PACE Project Closes Under the City’s TX-PACE Program
The City of Abilene’s first PACE project sends a mighty message - that TX-PACE financing serves businesses of all sizes. Edge Street Capital utilized TX-PACE financing to support energy-efficiency improvements at its Dollar Tree store on Pine Street, making an important step forward for Abilene’s commitment to sustainable economic development.
“Abilene is pleased to see our first PACE project move forward,” said Abilene Mayor Weldon Hurt. “This is exactly the kind of innovative financing tool that helps property owners improve their buildings, lower operating costs, and reinvest in our community. The City of Abilene is committed to supporting programs that create long-term value for our businesses and strengthen the economic vitality of our business community.”
This milestone project is also Texas PACE Authority’s first project funded through Allectrify’s FASTPACE platform with First State Bank of Florida Keys providing $350,000 in PACE financing. Together, they delivered a capital solution tailored to help the property owner recover the costs of energy-saving improvements already completed at the site.
“We appreciate the opportunity to work with the Texas PACE Authority to make C-PACE accessible for projects of all sizes across Texas,” said Allectrify CEO Colin Bishopp. “That mission is exactly why we built FASTPACE – to make C-PACE transactions faster, more transparent, and easier to navigate for every stakeholder. On this Abilene project – our first in Texas – the platform provided a single, efficient workflow that kept the owner, lender, and program administrator aligned from screening through closing.”
The project refinances eligible upgrades to the building envelope, including roof and wall insulation, energy-efficient windows, and a new HVAC system. These improvements enhance the long-term performance of the Dollar Tree facility, reduce utility consumption, and contribute to a more resilient retail asset in the heart of Abilene.
"As the economic development driver for Abilene, the DCOA champions the PACE program because it empowers businesses to invest in long-term sustainability and prolonged operational resilience," said Misty Mayo, President and CEO of the Development Corporation of Abilene (DCOA). "We’re proud to advocate for programs that give businesses more options to invest, improve, and stay competitive. This is the kind of progress that continues to position Abilene as the premier location for business development and expansion."
The Texas PACE Authority congratulates the City of Abilene, DCOA, Edge Street Capital, First State Bank of Florida Keys, and FASTPACE on achieving this significant milestone. This project demonstrates how TX-PACE can support local businesses of all sizes, encourage private investment, and advance community sustainability goals across Texas. TPA looks forward to continued collaboration with the City of Abilene, our lending partners, and innovative property owners who are shaping the future of the region.
About Texas PACE Authority
Texas PACE Authority (TPA) is the nonprofit administrator of more than 100 local TX-PACE programs. TPA empowers commercial, industrial, and multifamily property owners across Texas to make energy and water-saving upgrades that reduce costs, benefit the environment, and support local communities. Working with local governments, lenders, and service providers, TPA has facilitated over $600 million dollars in new investment statewide.