On 7/3/12 the City Commission voted unanimously for the City to become a member of the Florida Green Energy Works Property Assessed Clean Energy (PACE) program. Becoming an active member in this new PACE program will further the efforts of the City’s Economic Development Program and Climate Action Plan. The City's voluntary PACE program gives commercial property owners, within the City, the opportunity to repay energy efficiency and water conservation improvement expenditures through a non ad-valorem assessment that will be included on their annual property tax bill. This program will enable existing, new and expanding businesses to make environmental and energy efficiency improvements that will lead to lower monthly operating costs as well as contribute to their efforts to go green and implement more sustainable operating practices. There are a number of additional expected benefits to the City.
Florida Green Energy Works
Property Assessed Clean
Energy (PACE) Financing
As part of our long-standing commitment to supporting environmentally sound practices that save money, energy and resources, in 2012 the City of Boynton Beach became one of the first municipalities in Florida to offer PACE financing for commercial properties through the Florida Green Energy Works Program.
Owners of eligible commercial property may finance energy efficiency, renewable energy and wind resistance improvements to their property with little or no upfront cost, and then repay the financed amount over a term of up to 20 years as a non ad valorem assessment on the annual property tax bill.
What?s involved. An energy review by a qualified reviewer must confirm that a proposed project makes economic sense ? that the savings justify the investment. Once a suitable project is identified, Florida Green Energy Works will match each owner with interested capital providers who finance the project, which could include the owner?s existing lender.
Eligible projects. Only commercial property is eligible for the program at this time, such as offices, retail, hotels, restaurants, warehouses, churches and private schools. The maximum financing amount is 100% of available equity in the property.
Bottom line savings. The goal of the program is to reduce energy consumption of participating buildings by 20%. This typically ensures that the savings in utility expenses are more than sufficient to pay the annual assessment on the property.
Contractors welcome. Contractors who regularly work on energy-consuming building systems such as HVAC, plumbing, roofing and lighting are encouraged to register with the program to make financing available to their customers.
Program contacts. Click on the links above to access more information and take action on the Florida Green Energy Works program.
Questions? Boynton commercial businesses are welcome to contact Chris Mitchell by telephone at (561) 742-6067 or by email at email@example.com.