September 18, 2020
The Board of Directors unanimously approved a recommendation from the PACE in a Box Underwriting Working Group to update the model program’s Loan to Assessed Value ratio from 20% to 25% based on best experience with the TX-PACE in a Box projects in Texas and best practices in other states. The Guidance reflects comments presented in two Underwriting Working Group virtual meetings open to all interested parties. Forty-seven stakeholders participated. After the call summaries were posted on the Keeping PACE in Texas website, additional comments were requested and received.
Stakeholders are invited a final time to comment on the proposed Guidance which includes additional appraisal information recommended in the last set of comments received. Suggestions on improving the Guidance are welcome and appreciated. Final comments are due September 28, 2020, to Charlene.Heydinger@keeppace.org.
The Underwriting Working Group continues its review of the remaining underwriting factors included in the 2020 Feedback and Improvement Process.
