Laserfiche WebLink
Board of County Commissioners Meeting Minutes - Final <br />July 11, 2023 <br />staff is directed to make final payment and release any retainage to Kimley-Horn and <br />Associates, Inc., after review and approval by the Purchasing Manager and the <br />County Attorney's Office <br />Attachments: Staff Report <br />Work Order #1 <br />Approved staff's recommendation <br />9. CONSTITUTIONAL OFFICERS and GOVERNMENTAL AGENCIES <br />9.A. 23-0603 IRC Tax Collector Carole Jean Jordan re: PACE Loans <br />Attachments: Memorandum from IRC Tax Collector <br />Carole Jean Jordan, Indian River County Tax Collector, stated this Item was brought <br />before the Board to address the Property Assessed Clean Energy (PACE) program <br />and to specifically warn County citizens of predatory lenders in Indian River County. <br />Ms. Jordan had shared her concern with elected officials, including Senator Erin Grall, <br />Representative Robert Brackett, and County Attorney Dylan Reingold. She stated <br />that Director of Taxes and Licensing Jordan Abbey and the Attorney for the Tax <br />Collectors office, Robert Nall, had invested countless hours conducting research <br />across the State of Florida regarding the PACE program. <br />Mr. Abbey explained the PACE program and why it was being presented to the <br />Board. He used a PowerPoint presentation to illustrate his points. PACE financing <br />allowed property owners to fund energy-efficient, renewable energy, or wind -resistant <br />improvements with little to no upfront costs. However, the homeowner must enter into <br />an agreement with a participating agency to obtain the financing, which would be paid <br />off through their tax bill. Mr. Abbey raised concerns, including that PACE providers <br />were exempt from the Truth -in -Lending Act, making it different from conventional <br />loans. Additionally, homes with PACE loans were ineligible for financing from the <br />Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac. The length of <br />the loans could exceed the useful life of the improvements, and some contractors and <br />funding agencies were selling the programs as government or county programs, which <br />they were not. Finally, low-income, elderly, and non-English speaking residents were <br />often targeted, with contracts being signed on mobile devices, making it difficult to <br />review the terms and understand the document they were signing. <br />Mr. Abbey stated that the Board had previously voted against allowing PACE <br />agencies to operate in the Unincorporated County. Currently, the Florida Green <br />Finance Authority (FLGFA) had an agreement with the City of Fellsmere to offer <br />Indian River County Florida Page 13 <br />