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