DATE: October 22, 2013
MEDIA CONTACT: Dr. Nancy Gassman, Broward County
Natural Resources Administrator, Natural Resources Planning and Management Division
BROWARD COUNTY, Fla. – Since Broward County announced on October 8 that it would establish a commercial and residential Property Assessed Clean Energy (PACE) Program, there has been significant interest from the public. With their calls and emails, property owners are demonstrating the strong demand for the program, which would allow households to pay for the cost of energy improvements and wind mitigation measures to their homes or businesses through a voluntary assessment on their property tax bill.
The action taken by the Broward County Board of County Commissions earlier this month authorizes the development of the necessary agreements with two firms, Ygrene Energy Fund Florida and EcoCity Partners, L3Cpartners, to establish a PACE program in Broward County. Once the agreements are executed (expected in the spring of 2014), property owners can begin to submit applications to access the financing. Interested parties can send their contact information to EnergySense@broward.org to be registered to receive regular updates on the status of the Broward PACE program.
The upcoming PACE program will provide a new financing mechanism to those who want to make building improvements that are energy efficient but do not have the upfront funding available. One of the interesting aspects of PACE is that the assessment may stay with the property when it is sold since the new owner continues to receive the benefit and cost savings of the improvements. These programs operate on private capital, not taxpayer dollars, and will broaden access to affordable finance strategies to advance energy efficiency improvements, renewable energy options, and wind mitigation measures in existing structures.
For more information, visit Natural Resources Planning and Management Division or call 954-519-1270.