FINANCIAL_SERVICESPENDING

billerica-select-board-agenda-october-20-2025_c6c.pdf

Billerica to Enter PACE Financing Agreement with MassDevelopment

Town of BillericaMASSACHUSETTS DEVELOPMENT FINANCE AGENCYOctober 20, 2025

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Description

The Billerica Select Board is considering a resolution to authorize the Town Manager to enter into a Municipal Assessment and Assignment Agreement with the Massachusetts Development Finance Agency to administer PACE Massachusetts financing for qualifying commercial and industrial clean energy improvements. Under this agreement, the Town will levy and assign PACE betterment assessment liens that secure privately provided clean energy financing on benefitted properties.

Contract Details

Vendor

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY

Agency

Town of Billerica, MA

Contract Type

FINANCIAL_SERVICES

Document Date

October 20, 2025

Contract Term

Term begins on execution date and continues until all PACE betterment assessments levied by the Town are paid in full or deemed no longer outstanding

Renewal Info

Agreement continues until the Town elects to terminate participation with 60 days’ written notice and all outstanding PACE betterment assessments levied under the program have been paid in full or are no longer outstanding.

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