Approval of PACE Energy Efficiency Financing Program in Unincorporated Miami-Dade

Original title: RESOLUTION APPROVING AGREEMENT BETWEEN MIAMI-DADE COUNTY AND GREEN CORRIDOR PROPERTY ASSESSMENT CLEAN ENERGY DISTRICT FOR PROPERTY ASSESSED CLEAN ENERGY (PACE) WITHIN THE UNINCORPORATED AREA; APPROVING INDEMNIFICATION AGREEMENT BETWEEN MIAMI-DADE COUNTY AND YGRENE ENERGY FUND FLORIDA LLC FOR THE BENEFIT OF MIAMI-DADE COUNTY; AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE THESE AGREEMENTS, EXECUTE INDEMNIFICATION AGREEMENTS WITH FUTURE ADMINISTRATORS OF GREEN CORRIDOR PROPERTY ASSESSMENT CLEAN ENERGY DISTRICT FOR THE BENEFIT OF MIAMI-DADE COUNTY, AND EXERCISE CERTAIN PROVISIONS IN THE AGREEMENTS (Regulatory and Economic Resources)

Record date · May 8, 2018

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What This Bill Does

This resolution authorizes Miami-Dade County to enter into an agreement with the Green Corridor Property Assessment Clean Energy () District to offer energy efficiency financing to property owners in s. It also approves an with Ygrene Energy Fund Florida LLC to protect the county from legal liability related to the program.

Why it matters

Property owners in unincorporated Miami-Dade County gain access to financing, which allows them to fund energy-efficient home improvements through a voluntary assessment added to their property tax bills.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Property owners in unincorporated Miami-Dade

They gain the option to participate in the PACE financing program for property improvements.

Directly affected

Ygrene Energy Fund Florida LLC

They are authorized to act as an administrator for the PACE program under an indemnification agreement with the county.

Directly affected

Miami-Dade County government

The county assumes the responsibility of executing and managing the agreements with the PACE district and its administrators.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is PACE financing?

stands for Property Assessed Clean Energy. It is a financing mechanism that allows property owners to fund energy efficiency, renewable energy, or wind resistance improvements and pay the costs back over time through a voluntary assessment on their property tax bill.

Does this affect all Miami-Dade residents?

No, this resolution specifically applies to properties located within the s of Miami-Dade County.

What is the purpose of the indemnification agreement?

The is designed to protect Miami-Dade County from legal or financial liability that may arise from the administration of the program by Ygrene Energy Fund Florida LLC.

What else do you want to know?