Citrus County hears PACE program update and SB 770 consumer protections

Commissioner Rebecca Bays and the Citrus County Board of County Commissioners on March 25 heard a detailed presentation about Property Assessed Clean Energy, or PACE, financing and how recent state law changes affect how companies offer assessments tied to property tax bills.

The presentation explained that PACE is a voluntary financing option for property owners to fund home improvements such as roofing, impact windows and doors, and high-efficiency HVAC systems. Ryan (HomeRun), a HomeRun representative, and Chris (Fortify), a Fortify representative, and other PACE providers told the board the program attaches a fixed, amortizing special assessment to the tax bill and that the assessment is tied to the property rather than the owner's credit.

Why it matters: PACE financing has been offered in Florida and other states for years, but SB 770 and related changes have added underwriting and consumer-protection requirements that local governments and financers must follow. Commissioners asked about contractor oversight, pricing, income verification and how assessments affect future refinances or sales.

Officials said the major consumer-protection changes set by SB 770 include a 20-year maximum term…