|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - November 7, 2017|
Agenda Item #59
Non-Exclusive Interlocal Agreement Relating to the Funding and Financing of Qualifying Improvements by the Florida PACE Funding Agency
Contact and/or Presenter Information
Jan Brewer, Director, Financial Management Department, Ext. 3726
I move to adopt Resolution R-17-131 authorizing PACE funding programs in unincorporated Manatee County and approving an interlocal agreement with Florida PACE Funding Agency.
Florida Statute 168.03(2)(a)
On June 20, 2017, the Board of County Commissioners approved the County to a) move forward with the Property Assessed Clean Energy ("PACE") Program to operate in the unincorporated areas of Manatee County and b) return to the Board with the implementing documents and Resolution for approval.
Four (4) providers have expressed interest in establishing programs in Manatee County: namely, (i) Florida PACE Funding Agency, (ii) Florida Green Finance Authority (Renew Financial Group), (iii) Green Corridor PACE (Ygrene) and (iv) Florida Resiliency and Energy District ("FRED") (Renovate America). The Florida PACE Funding Agency is the first agreement to be recommended to the Board for approval. The other providers will have the opportunity to receive approval by supplemental resolution, subject to negotiation of a legally acceptable interlocal agreement.
The PACE Program provides financing for property owners to make qualifying improvements to their businesses or homes. Improvements may be made in the form of energy efficiency, renewable energy, and/or wind resistance.
Property owners voluntarily opt into a non-ad valorem assessment program to finance these improvements. Repayments of the improvements are paid annually through the property tax bill. The value of the improvement and the obligation to repay the annual assessment lies within the property so if the property changes ownership the obligation stays with the property.
Florida Statute 163.08 authorizes local governments to create PACE programs and provides the overall framework within which to administer the program. Under this statute, the County may (1) establish a self-funded and/or self-administered PACE program or (2) enter into an agreement with one or more local governments for the purpose of providing and financing qualifying improvements. In addition, the County may elect to use a third-party PACE program provider for the administration of the program. Third party providers offer multiple services such as determination of loan eligibility, loan application processing, underwriting, and contractor selection.
County Attorney Review
Formal Written Review (Opinion memo must be attached)
Explanation of Other
Instructions to Board Records
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: Legal Opinion for Florida Pace.pdf
Attachment: Resolution R-17-131 PACE Program.pdf
Attachment: Florida PACE Interlocal.pdf