STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: October 13, 2021
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Elizabeth Reich
______________________________________________________________________
SUBJECT
Title
Authorize a three-year service contract, with two one-year renewal options, for third-party administrator services for the City's Property Assessed Clean Energy Program for the Office of Economic Development - Texas Property Assessed Clean Energy Authority dba Texas PACE Authority, only proposer - Financing: No cost consideration to the City
Body
BACKGROUND
This service contract will provide third-party administrator services for the Property Assessed Clean Energy (PACE) Program, a financing tool to help property owners access long-term loans for clean energy, energy efficiency, and water conservation improvements. PACE financing provides a contractual agreement between property owners, third-party lenders, and the City. At the request of a property owner, the City places an assessment on a property, which secures the PACE financing from a third-party lender.
In 2013, the Texas Legislature passed Senate Bill 385 (83R) allowing municipalities and counties to work with commercial lenders and property owners to pursue improvements using property assessments as a secure repayment mechanism. In 2016, the City Council authorized the creation of the City of Dallas PACE Program, becoming one of the first municipalities in the state of Texas to do so.
The PACE program administrator will serve as the primary point of contact for the City of Dallas PACE Program. The program administrator will be responsible for overseeing day-to-day tasks including, but not limited to the following
* Coordinate efforts between property owners and lenders throughout the application process
* Verify application materials of property owners
* Gather and maintain reporting data in compliance with any applicab...
Click here for full text