REPORT REQUIRED BY TEXAS LOCAL GOVERNMENT CODE SECTION 399.009
FOR PROPOSED CITY OF PRINCETON
PROPERTY ASSESSED CLEAN ENERGY (PACE) PROGRAM
This Report is adopted by the City Council for the City of Princeton Property Assessed Clean Energy (PACE) Program (the “Program”) in accordance with the requirements of the Property Assessed Clean Energy Act (the “PACE Act”) as set forth in Texas Local Government Code Chapter 399.
The City of Princeton and its constituents benefit when older existing buildings are modified with new technology and equipment that increases energy efficiency and reduces water consumption. As described in this Report, the City is establishing the commercial PACE Program to encourage private sector investment in energy efficiency and water conservation. The PACE Program will be offered to property owners on a strictly voluntary basis and will not require the use of any public funds or resources.