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Board of County Commissioners Meeting Minutes - Final August 16, 2022 <br />C. Commissioner Susan Adams <br />U.C.I. 22-0673 Commercial PACE in Indian River County <br />Recommended Action: Request discussion and support <br />Attachments: Commissioners Memo <br />[Clerks note: discussion continued from Item 10.B.1] <br />Commissioner Susan Adams stated the C -PACE program was a tool in the <br />toolbox for economic development and for businesses if they want to take <br />advantage of it. She specified this was a funding option for commercial buildings <br />to use to retrofit for lighting or for large pieces of equipment such as air <br />conditioning units which can be very expensive. Commissioner Adams <br />commented she did not understand why the Board would have to approve this; <br />however, if businesses continued to come to the Board asking for the opportunity <br />to participate in programs such as this, then it was incumbent upon us to allow <br />them to do that. <br />Chairman Peter O'Bryan stated he had been a proponent of the PACE program, <br />and noted some of the local banks' concerns over the PACE loans having a lower <br />underwriting cost than a commercial bank, since the PACE loan was <br />automatically secured through the property assessment. He stated he was fully <br />supportive as long as the Florida Green Finance Authority was willing to include <br />the lender consent clause. He further stated he would be comfortable starting with <br />the current single application to see how it works, then open it up to other <br />applicants. <br />Vice Chairman Earman concurred with the comments of both Commissioner <br />Adams and Chairman O'Bryan and suggested giving staff direction and bring it <br />back to the Board in September. <br />Commissioner Joe Flescher was not supportive as he did not believe the Board <br />should be involved with the banking processes and there were sufficient tools <br />already available. <br />County Attorney Dylan Reingold stated he would bring back the Resolution for <br />the September 13th meeting. <br />A motion was made by Commissioner Adams, seconded by Chairman <br />O'Bryan, to direct staff to bring back a Resolution incorporating the language <br />discussed. The motion carried by the following vote: <br />Indian River County Florida Page 29 <br />