The first Marion County PACE (Property Assessed Clean Energy) project has been funded by the Florida PACE Funding Agency (Agency) through its innovative financing program, E|VEST Florida. Contractors and property owners are excited about the possibilities the Program holds for the region.
On Friday, Feb. 13, Betty and James Bonnet had their old roof replaced with an architectural shingle roof, providing code-compliant protection for their home and discounts on their property insurance. The work was completed by Central State Construction of Ocala and financed through the E|VEST Florida program.
“We were very satisfied with the work of Central State Construction on the installation of our new roof and appreciated working with Agency representatives who helped make this all a smooth process,” said James Bonnet.
The E|VEST Florida program provides financing for residential and commercial property owners to make clean energy and storm safety repairs or improvements to their homes and businesses, including air conditioning, water heaters, windows, doors, efficient lighting, solar, roofs and more. In addition, the E|VEST Florida program helps local contractors close more business.
“Initially, I was a little skeptical about PACE financing, but I followed the process and submitted my paperwork,” said Edwin Griffis, a contractor with Central State Construction. “The following Friday, the money was in my account, just like they promised!”
“PACE financing is an excellent means to create more local jobs and provide a safer, more sustainable future for our communities,” said Program Manager Jonathan Schaefer.
Subscription to the Agency’s E|VEST Florida program is initiated by a simple resolution and interlocal agreement between the local government and the Agency. There is no cost or liability for local governments who subscribe. Plus, the Agency has $200 million of immediately available financing, so cities and counties do not have to issue bonds. Local government officials interested in subscribing may visit www.FloridaPACE.gov for more information. Interested contractors and property owners may visit the Agency’s program website, www.EvestFlorida.com, to find out how to apply to the E|VEST Florida program, how it works, and where it is available.
About the Florida PACE Funding Agency
The Florida PACE Funding Agency is a special purpose local government formed by the collaborative efforts of Flagler County and the City of Kissimmee, Florida as a public service to every city and county in Florida. The Agency boasts an innovative financing program for wind resistance, energy efficiency and renewable generation improvements benefiting property owners and increasing construction jobs statewide. The program is administered for the Agency by Leidos Engineering. For more information, visit www.EvestFlorida.com.