Texas PACE Webinar 3: PACE and Affordable Housing

PACE for Affordable Multifamily Housing Webinar

Register Now! 

Monday, November 21, 2016 from 10:00 – 11 am CST
Learn how to finance 100% of energy and water efficiency and onsite generation retrofits for affordable multifamily housing using PACE.  A discussion of the report, PACE Financing Opportunities in the Affordable Multifamily Housing Sector, published on November 15, 2016

Property Assessed Clean Energy (PACE) is an innovative, market-based financing program that enables property owners of commercial, industrial, and multifamily housing properties to obtain low-cost, long-term financing of up to 100% of the upfront costs related to energy and water efficiency retrofits and distributed generation investments. Improvements financed through PACE generate positive cash flows for property owners since reduced utility costs more than offset the PACE assessment repayment obligations.

The City of Austin, Environmental Defense Fund, and the Texas PACE Authority – together with affordable housing industry stakeholders – explored using PACE financing in affordable multifamily housing properties as a means to increase the city’s housing affordability, increase property owner’s operating profits, and improve the living condition of tenants.

The final outcome of this coalition is the publication of a paper on November 15, 2016 that:

• Lists potential opportunities for the affordable multifamily housing sector to leverage PACE, including properties under the U.S. Department of Housing and Urban Development’s (HUD) Rental Assistance Demonstration (RAD) program, and properties that are funded by the U.S. Department of Agriculture Rural Development (USDA RD) program;
• Provides specific guidance for affordable multifamily housing stakeholders incorporating PACE financing in the capital structure of rehabilitation projects reflecting variables including the policies of the public agency(ies) providing subsidies or direct capital, the existence and type of utility allowances, and the type of metering;
• Identifies potential pilot projects in Central Texas that serve as example of how PACE financing may be used within the affordable multifamily housing sector; and
• Makes recommendations to federal, state, and local governments to improve the effectiveness of PACE utilization in the affordable multifamily housing sector.

Learn from these experts:

• Frank Jackson, Executive Director, Texas Affiliation of Affordable Housing Providers, will introduce the webinar.
• Jonathon Blackburn, Managing Director, the Texas PACE Authority, will summarize how to put together an affordable multifamily housing PACE project in Texas.
• Laura Sanchez, EDF 2016 Climate Corp Fellow and author of the report published on Nov. 15, 2016, will analyze various affordable multifamily financing structures and layout how to add PACE to the capital stacks of these structures.

After registering, you will receive a confirmation email containing information about joining the webinar.
Link to registration

Link to the report:  PACE Financing Opportunities in the Affordable Multifamily Housing Sector 

Link to EDF post: Affordable Housing can Save Money, Water, and Energy with this Innovative Finance Tool 

Link to Climate Corp Fellowship website