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Posted on July 18, 2016 at 6:05 PM by Shalima Mohamed
Outfitting your business or home with wind & energy efficiency is doable in the City of Miramar with the help of P.A.C.E Programs. These efficiency improvements can now be done through innovative financing. PACE programs provide upfront capital to property owners to allow them to make efficiency improvements on their properties. PACE financing is repaid through a special, non ad-valorem assessment levied on the property and repaid annually on the property owner’s tax bill. PACE financing can be repaid without penalty in advance or in increments of five to twenty-five years at the home or business owners’ consent, depending on the lifespan of the improvements made.
The establishment of PACE set up a special assessment district and interlocal agreement between PACE programs and the City of Miramar. Once in place, specific improvements related to Hurricane and Wind Protection; Energy and Water Efficiency, and Renewable Energy (Green Corridor PACE District, Florida PACE Funding Agency and The Florida Green Finance Authority) can be made by home and business residents within the City of Miramar.
“PACE assessments are not inhibitors to selling and buying properties with these accommodations,” stated Eric Silva, Director of Community & Economic Development for the City of Miramar. PACE programs do not assess any additional debt, liability or obligations to the City. Florida law allows the City to enter into these programs to levy non-ad valorem special assessments.
“I am proud to have sponsored the legislation that enables Miramar residents and business property owners the ability to participate in the PACE Program. Providing creative and accessible funding solutions that help make property more ENERGY efficient and safe is another advantage of being in our wonderful city,” stated Mayor Wayne M. Messam.
It is with important programs like these that the City of Miramar Commission reminds businesses and residents why It’s Right Here in Miramar® For more information about PACE programs log on to https://www.floridapace.gov/participating-communities or contact 866.558.3180.
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