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Florida PACE Funding Agency By Paul Handerhan Senior V.P. of Public Policy. Town of Lake Park. Welcome. What is PACE? Property Assessed Clean Energy (PACE) is a way for qualified property owners in subscribed communities to finance, renewable energy, energy efficiency and wind

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Welcome

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  1. Florida PACE Funding Agency By Paul Handerhan Senior V.P. of Public Policy • Town of Lake Park • Welcome

  2. What is PACE? Property Assessed Clean Energy (PACE) is a way for qualified property owners in subscribed communities to finance, renewable energy, energy efficiency and wind hardening improvements through a long-term property assessment. • What is PACE?

  3. SAFER homes and businesses. • INCREASED life safety during a hurricane or catastrophic event. • COMMUNITY RESILIENCY: Communities recover faster after severe weather events • LOWER INSURANCE COSTS: Homeowner’s Insurance savings—up to 77% credit off of the filed hurricane rate. • LOWER ENERGY COSTS • Lower utility bills • Tax credits • Rebates • Why PACE?

  4. Renewable energy • Energy efficiency • Wind hardening • What can • PACE be • used for?

  5. Renewable Energy Any system in which the electrical,mechanical, or thermal energy is produced through hydrogen, solar PV(photovoltaic), solar thermal, geothermal, biomass, biogas, ocean or wind. • Qualifying Improvements (cont.)

  6. Energy Efficiency • Qualifying Improvements (cont.) • Solar equipment • Solar Thermal (Heating water) • Solar PV Water Heater • Solar PV Attic Fan • Rooftop Solar PV

  7. Wind Hardening • Roof replacement; • Storm shutters; • Impact windows/doors; and • Garage door bracing. • Qualifying Improvements (cont.)

  8. Must have a Better Business Bureau rating of “B” or higher, if available. • Must carry the proper licensing and insurance for the improvement being performed. • Must have all required work permitted and inspected by the local code officials. • Must get the property owner to sign a letter satisfaction prior to payment. • Contractor Controls

  9. New roof in Marion County • Home Improvement Successes Before and after of roof in Tamarac, Broward County

  10. Up to 100% financing for qualifying improvements. • Up to 25 years to pay, depending on weighted average improvement life. • Financing is not subject to a credit score evaluation. • Non-balance sheet debt, does not negatively impact credit capacity. • Financing Advantages for Property Owners 10

  11. For properties to qualify: • Properties must be on the property tax roll • Properties may be 1-4 residential units/owner-occupied • Mobile homes are excluded • For property owners to qualify: • Must be owner of record • No missed or late mortgage payments and property tax payments for the last 3 years, or period of ownership, whichever is less • No involuntary liens on the property • Property Owner Program Qualifications

  12. AllianceNRG (formerly E-Vest) is the program developed by the Florida PACE Funding Agency to administer the financing to qualified property owners. • FAIR advocates for wind mitigation. • FAIR plans to do more to harden homes and businesses against hurricanes than we have in the last 23 years since Andrew. • About AllianceNRG and FAIR • Tamarac

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