The City of Miramar Commission voted
affirmatively at its board meeting of November 27, 2017 to add the Florida Resiliency Energy District as an
additional Property Assessed Clean Energy (“PACE”) provider within the City of
Miramar’s program.
May
18, 2016 marked the inception of the PACE program in the City, when the
Commission approved interlocal agreements with the Green Corridor PACE District, the Florida Green Finance Authority, and the Florida PACE Funding
Agency establishing these benefits for City residents. The addition of the Florida Resiliency Energy District to the program makes it the
fourth provider in the city’s PACE program.
PACE programs allow local governments to enable
financing mechanisms for the cost of energy efficiency and renewable energy
improvements on private property. The funding is paid back over time by the
property owner through a non-ad valorem assessment on their property. This
financing mechanism is based on a “land-secured financing district” or a
special assessment district. Improvements are secured by the property itself
and are paid in addition to the property owners’ property tax bill. Debts
incurred through this financing program are tied to the property on which
improvements are made.
When in effect, the PACE assessment is not a personal
obligation of the property owner through a conventional loan or mortgage; but a
non-ad valorem assessment on the property secured by a lien and collected as
part of the regular tax collection process for the property.
Energy Conservation
Benefits …It’s Right Here in Miramar™
