Voluntary financing program will support business growth, downtown revitalization and property improvements at no cost to taxpayers

TX-PACE complements existing resources such as Tax Increment Reinvestment Zones (TIRZ), Opportunity Zones, and downtown grant programs by helping address financial barriers that can prevent private property reinvestment and redevelopment. Texas PACE Authority (TPA), the Bonham PACE program administrator, now manages 114 programs across the State of Texas and has facilitated more than $750 million in private investment through TX-PACE projects statewide.

"The Bonham PACE program is another important step toward creating a more business friendly environment where stakeholders of all sizes can confidently invest in Bonham," said BEDCO Executive Director William Myers. "Whether property owners are restoring a historic downtown building, upgrading a manufacturing facility, reducing facility costs for a nonprofit or preparing a commercial property for a new tenant, this program provides greater flexibility to make improvements that strengthen businesses and support Bonham's long-term success."

Authorized under the Texas Property Assessed Clean Energy Act, TX-PACE is a voluntary program that gives owners of commercial, industrial, agricultural, nonprofit and multifamily residential properties with five or more units access to long-term, private financing for qualifying projects involving energy efficiency, water conservation, on-site power generation and resiliency. Throughout the application process, TPA helps property owners determine eligibility, navigate required documentation and ensure applications meet TX-PACE requirements.

Bonham property owners can use TX-PACE financing for projects including energy-efficient HVAC systems, roofing, lighting, insulation, windows and doors, solar energy installations, water conservation improvements, building envelope upgrades, elevators, and resiliency enhancements. These investments lower operating costs, attract businesses and tenants, create construction jobs, and strengthen the local tax base.

"The City of Bonham is making a forward-looking commitment to its economic future by adopting the TX-PACE program," said Dub Taylor, CEO of the Texas PACE Authority. "This action gives local commercial property owners access to long-term, private capital to modernize buildings, lower operating costs, improve resilience and attract new investment – all without creating financial obligations for the City or its taxpayers. We look forward to partnering with the City of Bonham to help local businesses and developers take advantage of this powerful economic development tool."

The TX-PACE Program requires no taxpayer funding, does not affect local tax rates and does not divert funding from city services or day-to-day operations. Participation is voluntary, with financing and administrative costs paid by participating property owners through private lenders.

ABOUT BONHAM ECONOMIC DEVELOPMENT CORPORATION (BEDCO)

Located at the intersection of Sam Rayburn Highway (Hwy 121) and U.S. Highway 82, Bonham, Texas, serves as the county seat of Fannin County and is conveniently positioned just 60 miles north of the Dallas-Fort Worth Metroplex and 30 minutes east of Sherman’s growing tech hub. With its historic downtown, affordable neighborhoods, exceptional quality of life and easy access to major regional centers, Bonham attracts families, professionals and businesses seeking growth and connection throughout North and Northeast Texas.

The Bonham Economic Development Corporation (BEDCO) is a Type B EDC established under the Texas Development Corporation Act of 1997, funded by a half-cent, voter-approved sales tax dedicated to growing Bonham’s economy. With a 2025–26 sales tax budget of $1.1 million, BEDCO is investing in vital infrastructure, upgrades at Jones Field Airport, public parks, and strategic commercial and industrial development to create new jobs. BEDCO also supports downtown revitalization through matching grants that help business owners enhance their properties.

For more information, visit www.cityofbonham.org/163/BEDCO.

ABOUT TEXAS PACE AUTHORITY (TPA)

The Texas PACE Authority (TPA), a nonprofit organization, administers the TX-PACE program for more than 100 local governments across Texas. TPA provides program administration, education, project facilitation and compliance support, enabling communities to offer the program without requiring additional city staffing or operational resources. Since its inception, the TPA has facilitated more than $750 million in private investment through TX-PACE projects statewide.

For more information, visit www.texaspaceauthority.org.