Discussion Regarding Potential for Multiple Property Assessed Clean Energy (PACE) Providers in Hernando County
There is no financial impact to the Board at this time.
Property Assessed Clean Energy (PACE) is a means of financing energy efficiency upgrades or renewable energy installations to private residential or commercial property owners, with repayment over time being collected on the property owner’s annual tax notice as a non-ad valorem assessment under the Florida Uniform Collection Process. The PACE Program enables interested contractors and residential/commercial private property owners to quickly and easily transact for qualifying improvements to real property with repayment of loans following the existing Florida Uniform Tax Bill Collection, enforcement and standard operating procedures for non-ad valorem assessments.
On July 25, 2017, the Board approved a Non-Exclusive Interlocal Agreement with the Florida PACE Funding Agency. Since then, other PACE agencies, particularly Ygrene Works (acting on behalf of Clean Energy Green Corridor District a/k/a Green Corridor Property Assessment Clean Energy District) have reached out to Hernando County requesting approval as a funding agency. Discussion will be held regarding the potential for multiple PACE providers in Hernando County.
|RESULT:||ADOPTED [4 TO 1]|
|MOVER:||Steve Champion, Vice Chairman|
|SECONDER:||Nicholas W. Nicholson, Commissioner|
|AYES:||Wayne Dukes, Steve Champion, Jeff Holcomb, Nicholas W. Nicholson|