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  • What is PACE Program?

    The program provides 100% no money down PACE financing for energy efficiency, renewable energy and hurricane protection improvements for your home or business. Payments are conveniently made with your property taxes. Eligibility is based on the equity in your property (among other factors) and not on your proof of employment, income or financial statements. Payments can be spread out over 20 years, and your first annual payment may be deferred for up to 17 months.* With PACE, you may lower your utility bills and insurance premiums while making your home safer and reducing greenhouse gas emissions in your city.

    While PACE programs are enabled by state legislation and must be approved by your local government, Ygrene Works is not a government program but a funding servicing agent.

     

    What does PACE stand for?

    The Property Assessed Clean Energy (PACE) model is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. PACE programs exist for both residential properties (commonly referred to as residential PACE or R-PACE)

    How can I use the funds?

    Hundreds of eligible improvements qualify, including installation costs. Install those impact windows you’ve always wanted. Replace your roof and air conditioning system. Improve your home with solar panels, a new water heater and insulation.

     

    Is making payments on my property tax bill a good idea?

    PACE financing payments are added to and repaid with your property taxes, a process approved under Florida State Statute 163.08 and secured by a continuing lien on the property. If you sell your property, payments may transfer to the new owner**

    When will I make my first payment?

    Your first payment (and all future payments) will be added to your property taxes, and will appear as a line item on your annual statement delivered by your County Tax Assessors office. The date it will appear on your property tax statement for the first time depends on the date your PACE improvement contract is funded. PACE improvements funded on or before June 30th of this year will appear in this year’s property tax statement. Projects funded after June 30th of this year will appear in next year’s property tax statement.

    What is my payment schedule?

    Your annual PACE assessment will be added to your property taxes as a line item on your annual statement. You can pay in one of two ways:

    1. Pay the property tax bill directly to your tax collector on the due date (lump sum installments paid annually).
    2. Increase the amount contributed to your existing escrow account (or set up a new account) with your mortgage lender or servicer.

    After your project is funded, you will receive a final closing statement from Ygrene the funding agent. If you want to escrow your PACE financing payments through your mortgage escrow account, send the final closing statement to your lender or servicer and ask them about increasing the reserves in your existing escrow account (or set up a new account) based on your estimated annual special assessment amount. For further questions, contact your lender or servicer.

     

    How do I get started?

    Getting started is easy. Simply visit ac-of-florida.com.  Air Conditioning Heating & Services of Tampa Bay is a PACE Certified Contractor,  just call and ask for a  customer service representative at 727-422-5444. One of our representative can answer any question, determine your eligibility and off you a free no obligation quote.  So call today and let’s get started.

    *Subject to underwriting guidelines and approvals; deferral of first payment depends on the date of funding; interest shall accrue during entire deferred payment period.
    **PACE payments repaid with your property taxes and are legally transferable upon sale; however, some mortgage lenders may require full repayment of the special tax upon sale or refinance.