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Commissioners hear CPACE financing presentation and CityWalk housing proposal; decide to defer final action
Summary
After a presentation by the Florida Development Finance Corporation on a commercial PACE program and a developer’s CityWalk rent-to-own proposal, Bradford County commissioners requested more consultation with the city, the tax collector and property appraiser and agreed to defer final action to the Nov. 18 meeting.
Bradford County commissioners spent significant time on Nov. 4 reviewing a commercial PACE (CPACE) financing program presented by the Florida Development Finance Corporation (FDFC) and hearing a developer’s CityWalk housing proposal that could make use of the program.
Ryan Marcus of FDFC explained the program’s mechanics: it is a voluntary commercial program that enables private capital to finance improvements with repayment secured by a special assessment on the property owner’s tax bill. Marcus said FDFC acts as assessment administrator, does not obligate the…
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