20 - Intent to Establish the City of Paris Texas Property Assessed Clean Energy (PACE) Program

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• Fuel switching; • Heat recovery and steam traps; • Wastewater recovery and reuse systems; • Systems to capture and use alternate, on-site sources of water (AIC condensate, rainwater, • reverse osmosis reject water, foundation drain water, etc.); • On-site improvements to accommodate the use of municipally reclaimed water; • Water management systems and controls (indoor and outdoor); • Switching from water cooled systems to air or geothermal cooled systems; and • High efficiency irrigation equipment SECTION 3. BENEFITS OF PACE TO PROPERTY OWNERS. The PACE Program will enable owners of Eligible Properties to overcome traditional barriers to capital investments in energy efficiency and water conservation improvements, such as unattractive returns on investment, split incentives between landlords and tenants, and uncertainty of recouping the investment upon sale of the property. By financing Qualified Improvements through the program, property owners may achieve utility cost savings that exceed the amount of the assessment and reduce their exposure to utility price volatility. As a result, the value of the property will be enhanced, and the owner will only be obligated to pay the assessment installments that accrue during its period of ownership of the property. Additionally, by investing in energy efficiency and water conservation with PACE financing, property owners may also qualify for various rebate, tax credit, and incentive programs offered by utility providers and state or federal governmental authorities to encourage these types of investments. SECTION 4. BENEFITS OF PACE TO THE CITY. The City has a large contingent of aging building stock, some of which is 100 years old or older, most of which would benefit greatly from eligible improvements and the benefits that PACE has to offer. Moreover, to the extent that new buildings meeting the eligibility requirements of the PACE Act can be made more energy and water efficient, the City benefits in the ways highlighted below. Among other things, projects financed through PACE will: • Enable property owners and occupants to save substantial amounts in utility costs • Reduce demand on the electricity grid • Mitigate greenhouse gas emissions associated with energy generation • Enhance the value and efficiency of existing buildings -3-