Property Assessed Clean Energy "PACE"
Per Section 163.08(7), the FDFC was given the ability to issue revenue bonds on a state-wide basis. In January 2014, the FDFC Board approved a PACE program with multiple, third-party PACE Program Administrators to provide a higher level of competition and serve as much of the state as possible.
FDFC’s role expands outside the normal parameters of simply the conduit issuer to include all due-diligence on PACE Providers, structuring and creating of the bonds and associated bond documents, oversight of the PACE Providers, consumer protections for the residential PACE program (R-PACE) and reporting. All PACE Program Administrators must go through a multi-step process before actually providing service to a community through the FDFC PACE program.
FDFC Program Administrator Oversight
Perform due diligence on capacity of PACE Providers
Establish eligible products lists
Establish parameters for exorbitant pricing;
Review documents and data associated with the financing agreements
Ensure all steps are completed for FRED membership and community
eligibility for PACE financing;
Work with FRED to place special assessments on annual tax bill;
Perform period compliance and auditing on Program Administrators
Florida Resiliency and Energy District
The Florida Resiliency and Energy District (FRED) is a Chapter 163.01 entity created by Interlocal Agreement between Fernandina Beach and Lake Clarke Shores to levy and collect the voluntary, non-ad valorem special assessment through the local Tax Collector’s office. Click here to view our Active FRED Communities.
Serving the property owners of Florida is important to us. The guidelines established for our program administrators can be found on our Consumer Protections page.