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Posted on: August 1, 2018

PACE renewable energy financing program for residential property owners begins August 4

Midtown and Downtown Aerial

FORT MYERS, FL (August 1, 2018) – The property assessed clean energy (PACE) residential program for eligible property owners within the City of Fort Myers begins on August 4, 2018. The residential program provides property owners an opportunity for voluntary financing of energy efficiency improvements, renewable energy initiatives and other eligible improvements.

Through taking advantage of this opportunity, property owners can make energy efficiency improvements without a large upfront cash payment. Property owners voluntarily choosing to participate in the PACE program repay the improvement costs over a set period of time through property assessments, which are secured by the property itself and paid as an addition to the owner’s property tax bill. The program also helps some property owners deduct payments from their income tax liability.

A PACE assessment is a debt of property, meaning the debt is tied to the property as opposed to the property owner(s). This key component allows property owners to make improvements regardless if they think they may not stay in the property long enough to realize enough savings to cover the upfront costs.

Earlier this year, the city entered into agreements with Florida Green Finance Authority; Green Corridor Property Assessed Clean Energy District; Florida Resiliency and Energy District; and the Florida PACE Funding Agency as a means of implementing the program. This residential component of the PACE program complements the existing PACE commercial program currently in effect in the City of Fort Myers.

 For more information, please contact Stephanie Schaffer at 239-321-7157 or sschaffer@cityftmyers.com.