A program designed to incentivize energy-efficient upgrades to existing facilities was established by the Collin County Commissioner's Court in a Monday meeting.
The program, Collin County Property-Assessed Clean Energy (PACE), will work with national lenders and municipalities within the county to financially help private sector firms make facility and technology upgrades in a way that makes them more energy efficient and helps them conserve more water.
The county will partner with the Lone Star PACE program, which was established by the Texas Legislature's Property-Assessed Clean Energy Act of 2013. The bill holds that funding for qualifying facilities may be used for permit fees, material and labor costs, inspection fees, administrative fees and other expenditures.
These financial incentives do not go to a particular developer or property owner, but rather, are attached to certain properties regardless of who owns them.
The PACE program will help improve the environment while also lowering utility bills and increasing property values, county documents say.