- November 16, 2024
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A little help from PACE
The first Flagler County PACE (Property Assessed Clean Energy) recipient, Jill Trecki is all smiles. Thanks to the new program Jill Trecki of Palm Coast was able to make some much needed repairs to her home.
“The PACE program is truly a blessing in our community,” Trecki said in a press release. “I would not have been able to have the roof and air conditioning replaced without them.”
PACE funding is available to residential and commercial property owners to be used for energy efficient, renewable generation and wind mitigation improvements.
“We are authorized to raise two billion dollars across the state of Florida,” said Mark A. Pierson, outreach manager of the PACE Funding Agency.
Flagler County Commissioner, Charles Ericksen was at Trecki's home for the oversized check passing last week.
“Private investors put money into the fund,” Ericksen said. “The homeowner is obligated to pay back with small interest rate, about 5 percent.”
Bringing this program to Flagler County has taken nearly four years according to Commissioner Barbara Revels.
“This started with our county attorney and county administrator meeting with the PACE people through the Association of Counties and League of Cities,” Revels said. “Flagler and Kissimmee agreed to become incorporated in the program and provide pro bono legal reviewers. “
The money isn't free, it is paid back by the homeowner as an assessment on their property tax.
“It's an assessment against property just like a road paving or water line might be,” Revels said. “Flagler doesn't make any money on this.”
The fund allows homeowners to improve their property at a reduced interest rate.
“It's not for everybody. You have to have equity in your home, be current on your mortgage and tax bill, and have a certain credit rating,” Revels said. “The purpose is for people to have their home more energy efficient and hardened up for storms.”
The task now, is to make homeowners aware of the program.
“We are authorized to raise two billion dollars across the state off Florida,” said Mark A. Pierson, outreach manager with PACE funding agency.
To find out more about the program, residential and commercial property owners can go to the agency's website www.EvestFlroida.com.
