Did you know that PACE is available in Palm Beach County?
Palm Beach 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 Palm Beach County does not guarantee the PACE program is the best financing option. Just as with any financial decision, property owners should review and understand all of their financing options, including obtaining multiple quotes, before selecting the option most appropriate for their particular financial situation.
This is an assessment on your property; it is not a loan, grant, nor Palm Beach County Board 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 (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 WITH APPLYING?
Each PACE provider will be slightly different with their own program guidelines; however, the basic steps are:
- ONLINE ELIGIBILITY CONFIRMATION
- ENERGY REVIEW
- CHOOSE PROJECT & FINANCING ALTERNATIVES
- COMPLETE PROJECT, DISBURSE FUNDS AND START SAVING MONEY ON UTILITIES
- PAY ANNUAL ASSESSMENT ON TAX BILL
WHO DO I TALK TO IF I WANT TO LEARN MORE ABOUT PACE?
PACE is available now! The PACE Providers will operate in unincorporated Palm Beach County, as well as those cities and towns that do not already have a program. Because the Town of Lake Park does not have a stand-alone program, you may directly contact one of the PACE Providers for more details on their program, including a list of the approved Contractors.
FOR DETAILS, INCLUDING A LIST OF THE APPROVED CONTRACTORS, CONTACT ONE OF THE FOLLOWING PACE PROVIDERS:
RESIDENTIAL & COMMERCIAL (866)634-1358
CONDO OR COMMERCIAL (855)431-4400
RESIDENTIAL & COMMERCIAL (877)747-4889
RESIDENTAL & COMMERCIAL (844)736-3934
FOR ADDITIONAL INFORMATION ABOUT THE PACE PROGRAM, INCLUDING FREQUENTLY ASKED QUESTIONS AND WHAT’S INVOLVED IN APPLYING, PLEASE VISIT PALM BEACH COUNTY’S WEBSITE, OFFICE OF RESILIENCE, PROPERTY ASSESSED CLEAN ENERGY (PACE) PROGRAM at http://discover.pbcgov.org/