New Jersey PACE has extensive resources and information for establishing a municipal PACE program. Here is our package of documents, background materials, and Q & A for the purposes of developing the proposed pilot.
1. Existing statute, requiring DLGS approval: PL2011, c.187
2. Amending legislation passed in 2015: A2579 (vetoed, for reference only)
3. Statement of the Senate Budget & Appropriations Committee, which states that, although not mentioned, “use of private financing is not explicitly prohibited” in PL2011, c.187 (the statement references S1510, the Senate version of the bill, ultimately made identical with A2579)
4. Governor Christie’s Conditional Veto of A2579, clause-by-clause comparison of the CV language and the provisions of the bill (CV text in margins), and NJPACE commentary.
Understanding PACE (90-second video and general description)
NJPACE Information sheets
Draft Program Handbook (2013, to be updated as needed, but contains the basic elements of the entire process from soup to nuts)
Consenting Lenders List (2014)
Specifically, Texas’ PACE-in-a-Box, viewed by some as the “gold standard” for PACE implementation.
Comments regarding the proposed pilot:
- The above information was developed to assist municipalities in establishing PACE programs under both the existing and the proposed legislation. Some modification may be necessary to conform to the current statute and to be approved for the proposed pilot program. These modifications will be developed in cooperation with the Division of Local Government Services (DLGS) of the Department of Community Affairs (DCA).
- NJPACE has also developed a step-by-step guide for municipal officials, which incorporates the key passages in the legislation, and provides decision-makers with several alternative approaches to the best utilization of their resources to accomplish their specific objectives. As a nonprofit committed to making communities resilient and regenerative, NJPACE is interested in helping communities leverage PACE to accomplish multiple objectives including economic development, affordable housing, etc. Here are some examples of the range of ways the municipality can engage with PACE, from minimal involvement to strong stakeholder engagement strategies. The municipality may wish to:
A. Take a “hands-off” approach, providing only administrative functions (registering the Special Assessment, collecting assessment payments along with tax revenues, and remitting the assessment payments to a trustee) (“Path A”), or
B. To make the best use of PACE as a strategy for economic development, including local jobs, business attraction and retention, and revitalization of disadvantaged neighborhoods (“Path B”), and/or
C. To leverage PACE to make the entire community more regenerative and resilient, we invite you to work with us to develop the level of community engagement needed to make a regenerative design successful (“Path C”).
Here is the step-by-step guide for municipalities.
A list of Frequently Asked Questions about PACE can be found here.
Benefits to municipalities (scroll down past the introductory video)
New Jersey PACE stands ready to assist city officials in designing programs to meet their needs. Please contact us with any additional questions or concerns.