- February 4, 2025
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Port Orange City Council approved a financing program within city limits.
Through the Property Assessed Clean Energy program, commercial and residential property owners can finance energy efficient projects, such as adding solar panels, and hardening updates, such as adding hurricane impact windows or shutters.
Port Orange city staff requested on Aug. 7 that City Council adopt a resolution to create the PACE Program. Other cities and counties within Florida have created programs since the Florida Legislature implemented it in 2013. Port Orange staff worked with Edgewater, New Smyrna Beach and Oak Hill to research the project, said assistant city manager Alan Rosen.
The City approved the resolution on Sept. 19. The vote was 4-1.
Councilman Bob Ford voted against implementing the program because the city should not be involved in the banking business. Mayor Don Burnette explained that the city is not in the financing business by supporting the program, but instead giving residents another choice.
Rosen said property owners typically have the option to finance home improvements through bank loans, a home equity line of credit or a lending website. The PACE program is similar.
He said unlike other lenders, PACE does not deny or approve the loan based on the consumer’s credit rating, but other factors, such as the scope of the project, equity on the property and prompt mortgage payments.
Rosen said the program also is a tool property owners can use to protect themselves from severe weather and increase the resiliency of the community.
“The more resilient the homeowners are with their buildings, the quicker we as a community can bounce back,” Rosen said.
Once the program is in place, he said the program also can benefit local contractors, plumbers and carpenters who partner with the program. Contractors who may not offer financing can recommend PACE financing.
If the owner wants to move forward with the work, their information is given to PACE, which will educate them on the program and complete the transaction. The repayment go through their tax bill, which they can continue paying through the life of the loan or attempt to negotiate with their mortgage company to transfer it to new property owners, Rosen said.
The program is under review by the city attorney. Natalie Schneider, program administrator for the Florida Green Finance Authority, anticipates approval within the next month to 6 weeks.
