SERVING COMMUNITIES.
IMPROVING PROPERTIES. INCREASING CAPITAL.
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Learn More About HUD’s Authorization at
TPA’s February T5 Webinar
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DATE & TIME
Thursday, February 16th, 2023
2:00 PM - 3:00 PM CST
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On December 23, 2022, the Department of Housing and Urban Development (HUD) authorized Texas PACE Authority's 83 PACE programs to include TX-PACE energy and water saving investment in HUD and Federal Housing Administration (FHA) multifamily properties. Adding PACE to these properties can dramatically increase investment in sustainable multifamily properties and help get these critical projects fully funded.
Why is this important? Up For Growth estimates that Texas is short 322,000 housing units to meet existing demand. Texas Tribune reported, “Texas has one of the largest gaps in the nation between the number of households considered extremely low income and the number of available affordable homes." According to estimates from the National Low Income Housing Coalition, for every 100 extremely low-income households, there are 29 available rental units. GoBankingRates.com identified 8 Texas cities that could be poised for a housing crisis. All 8 cities have established PACE programs administered by Texas PACE Authority and can now use PACE to facilitate increased HUD and FHA multifamily investments to address their housing shortages with sustainable multifamily properties.
Through case studies, learn how Texas PACE Authority has facilitated more than $125 million in energy and water saving investments on multifamily properties throughout Texas, helping developers fill holes in the capital stacks while lowering operating costs for landlords and tenants. Many of these projects have also received historic tax credits and other incentives. With additional 179(d) and other federal incentives also on the table, the addition of PACE for HUD and FHA multifamily properties will be a game changer.
Hear from experts who will use case studies from around Texas to show what TX-PACE is and how developers and owners will work with TPA, and HUD and FHA lenders to:
- Add PACE to capital stacks that include other sources of capital including tax credits, federal, local, and utility incentives, and opportunity zone financing; and
- Apply for HUD approval of PACE for HUD & FHA multifamily projects.
Speakers:
- Bob Iber, Senior Advisor in the Office of Multifamily Housing Programs at the Department of Housing and Urban Development
- Hon. Robert Dye, Developer and former mayor of the City of Farmers Branch
- Charlene Heydinger, president, Texas PACE Authority
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Jackson Street Apartments
$26,859,837
Project Measures:
Envelope, Electrical, Lighting, HVAC, Plumbing and Water Conservation
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Pearl Point Apartments
$7,660,808
Project Measures:
LED, Envelope, Water Conservation Measures
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The Grove Apartments
$12,000,000
Project Measures:
Building Envelope, Windows, HVAC, Lighting and Controls, Plumbing and DHW
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Central Plaza
$1,025,000
Project Measures:
LED, Envelope, Roof, Mechanical, Domestic Water Heating
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Texas PACE Authority is a nonprofit organization that advances Property Assessed Clean Energy (PACE) projects in Texas by administering a uniform commercial and industrial PACE program on behalf of local governments. This model approach ensures local governments can establish an effective TX-PACE program quickly and economically, providing a tool for property owners to invest in more efficient infrastructure.
Texas PACE Authority is committed to expanding this vibrant program to every region in Texas, working with all parties – property owners, contractors, lenders, and local governments to bring energy and water improvements that are both economically sound and environmentally friendly. To date, 83 local governments have established TX-PACE programs reaching above 73% of the Texas population.
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