Port St. Lucie council hears presentation on residential PACE financing; no ordinance voted

At a Port St. Lucie City Council meeting, representatives from residential PACE (Property Assessed Clean Energy) companies briefed council members on how PACE financing works, consumer protections enacted in Florida’s SB 770, and local options for oversight and contractor enforcement. Presenters said PACE can finance home improvements such as roofs, impact windows and HVAC systems and that repayments are attached to property tax bills.

The presentation came from Chris Peterson of Fortify Financial, Rachel Hobbs of Home Run Financing, Eddie Metzger of Ygrene and Matthew Choi of Renew Financial. Council members asked detailed questions about contractor vetting, price controls and local oversight; the meeting record shows the item was informational and no ordinance or resolution was adopted.

The presenters said PACE covers 100% of upfront costs for eligible, permanently affixed property improvements and is repaid through an assessment on the tax bill. Chris Peterson described typical PACE work as “roofs, impact windows, HVAC systems” and said the program uses a fixed term and fixed interest rate with an amortization schedule. Presenters emphasized that PACE is equity-based and is available only to property owners…