The Florida PACE Funding Agency was created in June 2011 by general law through an interlocal agreement. The initial incorporators are Flagler County and the City of Kissimmee. The Agency’s mission is to facilitate the implementation, planning, development, funding, financing, marketing and management of a statewide platform so that counties and cities can easily and economically take advantage of a uniform, scalable program for their property-owning constituents. The Florida PACE Funding Agency was designed to insulate local governments from liability and the heavy use of staff time for such a voluntary program.
Florida’s PACE legislation allows individual residential and commercial property owners to voluntarily seek financing for certain energy or wind resistant improvements in the form of a special assessment though their local government with payback occurring over a period of years and collected on the same bill as property taxes. The Florida Legislature in 2010 overwhelmingly passed bipartisan legislation that carefully details the authority and processes for a PACE program and assessments in Florida.
To date, the Agency is the only source of PACE financing initially capitalized at $200 million, making funding available immediately. In addition, the Agency has been approved to capitalize up to $2 billion.
For additional details, please email info@FloridaPACE.gov