Hillsborough County Reintroduces PACE Financing for Home Improvements
Industry frontrunner Home Run Financing is set to enhance property values and community resilience in Hillsborough County by reintroducing Property Assessed Clean Energy (PACE) financing. This financing is a vital tool for homeowners looking to make environmentally friendly improvements and essential upgrades to their homes.
Overview of PACE Financing
PACE financing is designed to help homeowners make significant improvements such as:
- Hurricane hardening to protect against severe weather.
- Septic-to-sewer conversions for better sanitation and reduced environmental impact.
- Flood protection enhancements, including seawalls that can potentially lower flood insurance premiums.
- Energy efficiency upgrades that can reduce utility bills and environmental footprints.
Community Benefits
“Hillsborough County homeowners now have additional financing options for crucial home-improvement projects, benefiting the entire community,” stated Robert Giles, CEO of Home Run Financing. This financial support aims to bolster not just individual residences but also the overall strength of the community in facing climate-related challenges.
Insights from Recent Studies
A 2024 study by Yale University and the University of North Carolina found that PACE financing “democratizes access to credit” particularly for middle- and moderate-income households in Florida. This access is crucial for those who may struggle to fund essential home upgrades on their own.
Legislative Background
This move by Hillsborough County aligns with recent legislation in Florida aimed at enhancing consumer protections, which include:
- Improved payment options.
- More rigorous reporting requirements.
- The inclusion of new project categories such as flood mitigation and septic conversions.
- Appointment of the state’s Auditor General as a regulatory authority.
PACE Financing in Action
Previously, PACE financing was active in Hillsborough County, funding over 1,600 assessments amounting to nearly $29 million. Statewide, more than 125,000 PACE projects have been funded, resulting in the creation of over 76,000 jobs and nearly $3 billion invested in the local economy.
Coverage Expansion
With the inclusion of unincorporated Hillsborough County, Home Run Financing now provides services across five counties in West Florida:
- Citrus
- Levy
- Manatee
- Sarasota
Get Involved
For homeowners interested in exploring PACE financing, detailed information is available on the Home Run Financing website. For bilingual support, they offer assistance in English and Spanish.
Official Website: Home Run Financing
Spanish Version: Financiamiento Home Run
Contact Information
For inquiries, you can reach out to:
- Severn Williams
- Phone: 510-336-9566
- Email: [email protected]
Conclusion
The reintroduction of PACE financing in Hillsborough County signifies a progressive step towards enhancing property resilience and accessibility for homeowners. Through this initiative, both the environment and local economies stand to gain significantly, making it a win-win for the community.
For more information about PACE financing and how it can benefit you, visit Home Run Financing today.