Hillsborough County Reintroduces PACE Financing for Homeowners
Home Run Financing is back to support homeowners with Property Assessed Clean Energy (PACE) financing, offering vital upgrades such as hurricane hardening, septic-to-sewer conversions, and energy efficiency improvements.
Benefits of PACE Financing
PACEs home improvement financing option offers substantial benefits to property owners. It assists in hardening homes against storms, improving energy efficiency, and facilitating flood protection measures. With these upgrades, homeowners not only enhance their properties but also contribute to reducing community-wide risks related to severe weather events.
Community Impact
Robert Giles, the CEO of Home Run Financing, highlighted the positive impact this initiative brings to the community, stating, "Homeowners have access to crucial financing options that improve overall resilience and benefit the entire community." Such community-focused initiatives reflect the commitment to building a safer environment for all residents.
Study Highlights
A recent study by academic institutions revealed that PACE financing democratizes access to credit for homeowners, especially in underprivileged groups. This accessibility can significantly aid middle- and moderate-income families in achieving necessary home upgrades that they might otherwise be unable to afford.
New Consumer Protections and Legislation
The recent re-adoption of PACE financing aligns with notable changes in legislation in Florida, which emphasizes consumer protections and accountability. These protections include improved payment options and enhanced reporting standards, ensuring a smoother experience for homeowners seeking financing.
Historical Context
PACEs recent implementation in Hillsborough County marks a return to a financing system that previously funded over 1,600 assessments, totaling almost $29 million in investments. Across Florida, the PACE program has financed over 125,000 projects, creating numerous jobs and boosting the economy with nearly $3 billion in private investments.
Expansion Across Florida
Home Run Financing's services now extend to five counties along Florida's west coast, emphasizing their commitment to support homeowners in various communities. Their reach includes Citrus, Levy, Manatee, and Sarasota counties, providing comprehensive financial solutions for home improvements.
Learn More About PACE
To discover more about PACE financing and how it can benefit homeowners, visit Home Run Financing’s official website. They offer bilingual customer support and provide connections to approved contractors, aiding homeowners in making informed improvement choices.
Frequently Asked Questions
What is PACE financing?
PACE financing is a way for homeowners to fund energy-efficient upgrades and other improvements through their property taxes, making it easier to afford necessary home enhancements.
How does PACE financing benefit homeowners?
It provides homeowners with accessible financing options for important upgrades that can improve home resilience and efficiency, leading to potential savings on insurance and utility costs.
What types of improvements can be financed through PACE?
PACE financing can cover hurricane hardening, energy efficiency upgrades, septic-to-sewer conversions, and flood protection improvements.
Who can access PACE financing?
Homeowners in eligible areas, especially those from middle to moderate-income backgrounds, can access PACE financing options.
Is Home Run Financing available in other locations?
Yes, Home Run Financing provides PACE financing in numerous counties across Florida, making it accessible for many homeowners seeking improvements.
