New Financing Option for Non Residential Building Owners Available in Travis County
Interested in upgrading your manufacturing or other industrial building with energy/water efficiency and renewable technologies but lack the needed capital? Do you have the needed capital but would prefer to invest those funds in something else for the business?
A new financing option is now available through the Travis County PACE (Property Assessed Clean Energy) program, so you can take advantage of the energy and water saving technologies today without spending out of pocket funds.
The Texas PACE Authority administers the innovative financing program enabling commercial, industrial, multi-family, and agricultural property owners to obtain low-cost, long-term loans covering up to 100 percent of energy efficiency, water conservation, and renewable and distributed generation energy projects while the project pays for itself.
Recently adopted by the Travis County Commissioners court, PACE financing enables the utility savings generated by these upgrades to more than cover the cost required to purchase them. In almost all cases, this means an immediate positive cash flow for your business. If you decide to sell your property, the loan will be the picked up by the new owner, so you can modernize your property without fear of over investment.
Contractors, Equipment Providers, and Lenders Also Reap PACE Benefits.
Property owners are not the only ones who can benefit from PACE financing. The program also offers new growth opportunities to contractors and equipment providers specializing in energy /water efficiency and renewable equipment, as well as lenders and capital providers.
Do you lease your building but want to make it more efficient? Talk to your building owner about how PACE can increase your net operating income, reduce your utility costs, and improve the owner’s property all at the same time. PACE can take advantage of the triple net lease mechanism which is built into most common lease structures so owner/tenant incentives are aligned.
PACE financing is affordable and flexible, making it easier for contractors to entice new customers and secure more projects. From this, equipment providers will receive more orders from the contractors to fulfil their projects.
Lenders will find a PACE loan to be a sound, secure financial investment. Similar to a property tax lien, a PACE loan has priority over other liens on a non-residential property. In the case of a default, the loan portion in arrears has priority over other debts, so the risk of loss due to non-payment is low compared to most other types of loans. Lenders can also differentiate themselves in the competitive commercial loan marketplace with the PACE program’s innovative structure and terms to help owners take care of property maintenance issues sooner rather than later.
For case studies, news, events, how to sign up and more information,
Visit our website: http://www.texaspaceauthority.com