Attorneys: How to Help Lenders Pick Up the PACE in South Florida
Attorneys Bryan Jung and Tony Alfonso write about the Property Assessed Clean Energy, or PA program, that generally provides funding for up to 100 percent of the cost of energy efficiency, renewable energy and water conservation upgrades to commercial and residential buildings.
December 29, 2015 at 06:20 AM
4 minute read
Bryan Jung Although the PACE program has been in existence in Florida since 2010, recent developments indicate that the use of the PACE program by owners of commercial real estate to obtain funding for capital improvements to their buildings is rapidly increasing. Lenders who understand and take advantage of the PACE program will be well-positioned to benefit from this growing market.
Tony Alfonso
What is PACE?
Property Assessed Clean Energy is a program that so far has been adopted in 31 states and the District of Columbia and generally provides funding for up to 100 percent of the cost of energy efficiency, renewable energy and water conservation upgrades to commercial and residential buildings. In Florida, the PACE program also provides funding for wind mitigation (hurricane hardening) upgrades, such as impact windows and reinforced roofs, which allows a wide range of projects to take advantage of the PACE program.
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