- Executive Summary
- Intro Policy Outreach
- Focus Areas Recommendations
- Implementation Strategy
PACE is available in Monroe County
The County’s commitment to climate resilience and sustainability includes making important tools available to constituents to help them meet their own sustainability goals. Property assessed clean energy, or PACE, financing allows property owners to fund energy efficiency, renewable energy, and wind mitigation projects with little or no up-front costs. With PACE, residential and commercial property owners living within a participating district can finance up to 100% of their project and pay it back over time as a voluntary non-ad valorem assessment on the annual property tax bill.
There may be other types of financing available to property owners and Monroe County does not guarantee the PACE program is the best financing option. Just as with any financial decision, property owners should consider seeking professional assistance in selecting the option most appropriate for their particular financial situation.
This is an assessment on your property; it is not a loan, grant, nor a Monroe of County Commissioners Program
Under Florida law, property taxes stay with the property when it is sold and the same holds true for assessments. However, the seller’s lender or the buyer’s lender (i.e. the mortgage company) may require the seller to pay off the remaining outstanding balance of the assessment before the property owner sells or refinances the property. Check with your mortgage lender if this may be the case for you. In addition, by law, property owners must provide notice of the assessment to the buyer prior to sale of the property.
Failure to pay the PACE assessment could trigger foreclosure and property loss even if the property owner is current on other mortgage lien(s).
What’s involved in applying?
Each provider will be slightly different with their own program guidelines; however, the basic steps are:
I want to learn more, who do I talk to?
County-approved PACE Providers operate in unincorporated Monroe County cities and towns that do not already have a program, and in cities and towns that have a program but have also taken appropriate legislative action to participate in the County PACE program. We recommend that you reach out to individual PACE providers for specific information on qualifying improvements, financing terms, and their list of contractors. The PACE providers approved under the Monroe County PACE program are:
Monroe County municipalities with their own PACE programs are listed below with associated links. Please check with your city for information regarding municipality-specific PACE programs and whether or not your city also participates in the Monroe County PACE program:
I need more information on PACE
Monroe County PACE Ordinance