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PACENation Summit 2024 Wrap-Up

Another PACENation Summit is in the books! The PACE industry descended on Nashville June 12-13 at the National Museum of African American Music for our annual gathering.  The event demonstrated that our industry is thriving, and opportunity abounds! From discussions about new commercial PACE (C-PACE) markets and how to sustain and expand those, to legislative initiatives that will advance consumer protections for residential (R-PACE) and sessions focused on opportunities for both large and small lenders there is much to look forward to. Experts discussed building performance standards that will help drive the PACE market (and that will help reach the goals articulated in PACENation’s PACE Enabled World report) as well as growth strategies for lenders and Administrators.

Several keynote speakers including Stephen Brown of the Coalition for Green Capital and Franz Hochstrasser of S2 Strategies shared their knowledge about the opportunity developing for PACE through the Greenhouse Gas Reduction Fund. Diversity experts discussed some of the challenges of creating an inclusive, equitable and diverse PACE marketplace, and also offered strategies for success. In a Continuing Legal Education (CLE) session for attorneys, panelists addressed the handling of thorny issues such as C-PACE delinquencies and the closing of complex C-PACE transactions.

The Summit also provided some very practical resources including a specialized training led by the team at Allectrify for regional and local banks, credit unions, community development finance institutions and other “community-based lenders” who are interested in exploring PACE lending.  The training addressed issues such as where to put PACE on a balance sheet, transaction tools, underwriting, standardized documents and more.

Best of all, was the incredibly warm Tennessee welcome we received from Nashville Vice Mayor Angie Emery Henderson, Council Member Burkley Allen, Summit Co-Host (and newly elected PACENation Board Member) Erica Gilmore who serves as the Metropolitan Trustee for Nashville & Davidson Counties and her team, and Knox County Trustee, Justin Biggs, all of whom made everyone feel right at home.  Trustee Gilmore’s announcement of Nashville’s successful completion of $17 million in PACE projects in just over a year was cause for celebration! Trustee Biggs and his team offered a positive outlook on the potential for PACE to improve the Knox County community and emphasized his office’s role in marketing the program.

The Summit offered optimism and a peek into a future that appears very bright. While we still have hurdles to clear, it was evident that the expertise in our community and a “roll up your sleeves” mentality will help guide us into the next phase.

The Summit was made possible by the generous support of our Sponsors and our Board of Directors who guides PACENation every day. We are proud to represent the entire breadth of the PACE industry and we know our diversity is our greatest strength. We hope that the sessions, the networking and the exposure to key leaders left everyone with much food for thought and some new connections and alliances! And for those who were unable to join us this year, we are already planning for Summit 2025 and hope to see you next year!