Expand PACE to protect Florida families

Florida is once again facing a challenge: We must rebuild from Hurricane Irma while also strengthening our communities to prepare for the next storm. When I served as majority leader in the Florida House of Representatives, we understood the importance of creating common sense solutions to challenges like this and I’m confident our current leaders are prepared do the same.

There will continue to be endless conversation and political debate about how to deal with hurricanes and severe storms. But one thing is certain: Florida leaders must empower our residents by providing options to affordably rebuild and strengthen their homes and businesses. Policymakers can do this by continuing to protect consumer choice and expanding access to Property Assessed Clean Energy (PACE) financing.

PACE is voluntary, privately-funded financing that serves the public without spending any taxpayer dollars. A private PACE financing provider pays 100 percent of the upfront project costs and then the homeowner simply pays for the upgrades through a line item on their property tax bill. Interest rates are fixed and repayment periods can be up to 30 years, making PACE an attractive and affordable option.

Although I championed Florida’s original PACE law back in 2010, PACE financing has grown and gained attention more recently. Within the past year, an increasing number of municipalities throughout Florida have chosen to offer PACE financing to homeowners and businesses looking to make critical upgrades to their properties. Thousands have used PACE financing in Florida and that number is growing, here and across the country. Nationwide, more than 150,000 American homes and businesses have already used PACE to strengthen their properties.

PACE places control locally, and ultimately in the hands of each property owner. The program is voluntary, and it is within each individual’s property rights to choose if PACE is right for their home and their family. At the same time, PACE is managed by local governments, allowing local communities to have more control over how they rebuild and improve their communities.

A bulk of PACE financing projects in Florida are geared toward improvements that help protect properties from severe storms and hurricanes. Wind mitigation upgrades and other hurricane preparedness measures will continue to be in high demand for decades to come both in coastal communities and across the state. By strengthening our communities against powerful storms, PACE financing gives power to Florida residents to make important improvements that protect their families and assets.

PACE financing is backed by strong bipartisan support. PACE is about creating resilient communities as much as it is about personal liberty. The people of Florida deserve more consumer choice when it comes to protecting their homes and businesses and PACE provides that solution.

Our elected leaders are responsible for providing as many tools as possible for home and business owners looking to protect what matters most to them. That means continuing to support and expand access to PACE financing in our state. Florida homeowners have the right to choose how they finance improvements on their own property — including the right to choose PACE.

Adam Hasner is the former Republican Majority Leader of the Florida House of Representatives and represented the coastal communities of southern Palm Beach County and northern Broward County in the Florida House of Representatives from 2002-2010. He authored and sponsored Florida’s original PACE law in 2010.