FOR IMMEDIATE RELEASE
CONTACT: Hamilton McLean, (407) 648-3528 x13528
FLORIDA PACE FUNDING AGENCY OPENS FIRST OFFICE
ORLANDO – Oct 23, 2012 – The Florida PACE Funding Agency (FPFA) was established by a Florida Statute in 2010 to provide voluntary, low cost financing to individual property owners for energy conservation, renewable energy and wind resistant improvements. Special assessments are to be repaid by property owners through a special assessment on the owner’s property tax bill. The Agency, through a sweeping public procurement process, selected SAIC Energy, Environment and Infrastructure, LLC to administer the program. In a like manner, the Agency solicited and is in final negotiations with several private funding organizations to fund these individual property improvements. To provide access to the program, the Agency has completed renovations and officially opened their first office located at 1000 Legion Place in Orlando. This location will be the headquarters for the program where property owners, construction contractors and distributors can receive program briefings, eligible product and systems information and details on how they can participate.
The Agency has been authorized, and the Circuit Court in and for Leon County, Florida has confirmed the authority of the Agency to issue $2 billion in taxable revenue bonds to fund the program. The program is entirely voluntary and is available only in subscribing counties and municipalities. Subscribing local governments have no financial or legal liability when financing is offered to property owners in their jurisdiction. Furthermore, the local government can join and leave the program at absolutely no cost.
Referring to a recent 2011 studies by both the US Department of Energy and an independent economic study by ECONorthwest, the Agency’s $2 billion financing will result in approximately $5 billion in state economic activity, $500 million in state and local tax revenues and support a level of jobs creation locally and state-wide consistent with this level of business stimulus all without any government subsidy or liability.
The Florida PACE Funding Agency is authorized to provide 100% financing to both residential and commercial property owners. A state-wide program offers the scale, transparency and consistency of program rules, to deliver the most cost effective PACE program in the State of Florida. Floridians, joining together can have a positive impact on their monthly operating expenses; reduce their dependency on fossil fuels and improve the quality of their air and water resources.
Talk with your county and municipal officials for application details, and start saving today.
Contact: Florida PACE Funding Agency office at 1-866-558-3180.