PACE Protections

Clean energy improvements can lower utility cost for consumers, and some might consider paying for the improvements through a PACE Financing program. State Senator Sandy Crawford tells us the financing is repaid with an annual assessment and tax lien on the property, but she said no one was protecting the consumer….

She said this may be the only financial program that wasn’t under the oversite of the Division of Finance. She said House Bill 697 will require the PACE programs to be examined by the Division of Finance, and it puts a cap on the loaned value of the property. If the property is sold or foreclosed on, the PACE Program loan goes with the property and future owners would be stuck with the bill. Governor Mike Parson signed HB 697 this morning.