|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - May 22, 2018|
Agenda Item #22
Non-Exclusive Interlocal Agreement Relating to the Funding and Financing of Qualifying Improvements by PACE Programs (Green Corridor)
Contact and/or Presenter Information
Jan Brewer, Director, Financial Management Department, Ext. 3726
Move to adopt Resolution R-18-073 authorizing PACE funding programs in unincorporated Manatee County and approving an interlocal agreement with Green Corridor.
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 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). On December 7, 2017, the Board adopted Resolution No. R-17-131 approving an interlocal agreement with Florida PACE Funding Agency, the first agreement to be recommended to the Board for approval. On March 6, 2018, the Board adopted Resolution No. R-18-008 approving an interlocal agreement with Florida Green Finance Authority and Florida Resiliency and Energy District. The last provider to come before the board, Green Corridor PACE (Ygrene), has negotiated an acceptable interlocal agreement with the County. Resolution R-18-073 approves this interlocal agreement, allowing the provider to offer PACE programs in the County.
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
Other (Requires explanation in field below)
Explanation of Other
Bill Clague, Assistant County Attorney, reviewed the agreements and prepared Resolution R-18-073.
Instructions to Board Records
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: ILA for PACE Program -- Green Corridor (final).pdf
Attachment: Resolution R-18-073 Amending PACE Program.pdf