Simon Properties Projects in Houston, Hays County Exceed $4 million in PACE Investment
HAYS COUNTY / HOUSTON The City of Houston and Hays County announced the closing of their first commercial Property Assessed Clean Energy (PACE) projects at the Houston Premium Outlets and San Marcos Premium Outlets. Combined, the Simon Properties projects will receive over $4 million in energy and water saving retrofit investments financed by Petros PACE Finance.
"Houston is the energy capital of the world and has a responsibility to lead by example and use our energy resources as efficiently as possible," said Houston Mayor Sylvester Turner. "We created the Houston PACE program to help Houston businesses access lowcost financing and lower their utility bills. We're thrilled our first PACE project is at the Houston Premium Outlets and we hope more businesses will follow their lead."
"Hays County created a PACE program to help our businesses lower their operating costs with energy and water saving updates that benefit all of our citizens," comments Hays County Judge, Bert Cobb. "It's great to see the San Marcos Premium Outlets, one of Texas' top tourist destinations, be the first of many Hays County PACE projects."
PACE is an innovative financing program that enables owners of commercial and industrial properties to obtain lowcost, longterm loans for water conservation, energyefficiency improvements, and distributed generation retrofits.