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Commercial PACE (C-PACE) – Property Assessed Clean Energy
Florida — state program100% Funding for Retrofits; Typically 15-25% of total project costs for New Construction; Qualified improvements installed within the past 36 months eligible for Refinancing
The Florida Development Finance Corporation (FDFC) provides long-term, low-cost financing for energy efficiency, renewable energy, resiliency, and water conservation improvements on commercial, industrial, multifamily, and nonprofit properties. Financing is repaid through a voluntary Non-Ad Valorem special assessment on the property's tax bill, administered through the Florida Resiliency and Energy District (FRED). The financing term may extend up to 30 years depending on the useful life of the improvements.
Program details
- Type
- loan
- Amount
- 100% Funding for Retrofits; Typically 15-25% of total project costs for New Construction; Qualified improvements installed within the past 36 months eligible for Refinancing
- Eligibility
- Commercial property owners located in a C-PACE enabled Florida community within the Florida Resiliency and Energy District (FRED); all property taxes and assessments must be current; no involuntary liens greater than $5,000; no notices of default or evidence of property-based debt delinquency recorded in the preceding 3 years or owner's period of ownership (whichever is less); owner must be current on all mortgage debt; owner must not be subject to a bankruptcy proceeding.
- Status
- open
- Administrator
- Florida Development Finance Corporation (FDFC) / Florida Resiliency and Energy District (FRED)
- More Info
- https://www.fdfcbonds.com/cpace
Source: Florida — state program. Confirm current terms with the administering agency before applying.