FOR IMMEDIATE RELEASE
CONTACT: Steven Stein – (407) 648-3536 or Elizabeth Donati – (518) 454-6400 x 215
FLORIDA PACE FUNDING AGENCY SELECTS SAIC TO ADMINISTER CLEAN ENERGY AND WIND RESISTANCE IMPROVEMENTS PROGRAM
ORLANDO – May 14, 2012 – The Florida PACE Funding Agency has selected Science Applications International Corporation (SAIC) [NYSE: SAI] to provide third party administration services for the delivery of the Agency’s property assessed clean energy (PACE) program. The program is the only statewide program in the country designed to encourage property owners to voluntarily seek financing for certain energy efficiency, renewable energy, or wind resistance improvements. Work will be conducted by SAIC’s wholly owned subsidiary SAIC Energy, Environment & Infrastructure LLC.
SAIC was selected because of its successful management of large governmental programs and experience with outreach to residential and commercial customers. SAIC will oversee the design, development, implementation and management of the program.
The Florida PACE Funding Agency was created in June 2011 by general law through an interlocal agreement. The Agency’s mission is to facilitate the implementation, planning, development, funding, financing, marketing and management of a uniform statewide platform so that counties and cities can easily and economically take advantage of a scalable program for their property-owning constituents.
Florida’s PACE legislation allows individual residential and commercial property owners to seek financing 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. In 2010, the Florida Legislature overwhelmingly passed bipartisan legislation that carefully details the authority and processes for a PACE program and assessments in Florida.