Florida Green Corridor

Florida Clean Energy Green Corridor (CEGC) is a financing program organized by the cities of Miami, Miami Shores, South Miami, Coral Gables, Pinecrest, Palmetto Bay and Cutler Bay to fund energy efficiency improvements and hurricane protection improvements to commercial, industrial, single family and multifamily buildings. Single family properties in the City of Miami and multi-family properties in Coral Gables are not currently eligible for the program.

PACE FINANCING

This is PACE (Property Assessed Clean Energy) financing, which means that the funds are lent to a building rather than the individuals that own it, and the debt becomes part of the future tax liability of the property until it is paid off. The owners of the building don’t owe the debt; the building does. If the building is sold before the loan is repaid, the remaining balance stays with the building as an amortized tax lien. Once the loan is paid off the taxes on the building revert back to standard assessments.

UNIQUE OPPORTUNITY FOR FLORIDA PROPERTY OWNERS

CEGC is an outstanding way for Florida property owners to pay for energy and hurricane protection improvements that they might otherwise not be able to afford. Never before has this much money been so easy to get.

Borrowing requirements are easy and simple: a property owner has to be current on tax and mortgage payments for 3 years and the building can have no bankruptcy within the last 3 years. Provided those conditions are met, owners can borrow up to 20% of the building’s value with nothing down, at favorable interest rates, and with terms up to 20 years.

NET POSITIVE CASH FLOW

A Sustainable Environments improvement package is designed to create a net positive cash flow: where yearly savings exceed yearly costs. It can become cheaper to do this than not do it.

The reason for this is that investments in high efficiency energy improvements cost money, but save money too. The challenge is to find a combination of improvements that provide the maximum savings for the least investment. Sustainable Environments uses years of experience coupled with computer modeling to focus in on this maximum benefit point.

If done properly, you get a safer, more comfortable and more valuable building;
a better building for less money than you currently pay to own the current one.

CAPITAL IMPROVEMENTS

Many property owners are facing the prospect of needing to replace roofs, heating and air conditioning equipment, windows, pool heaters, and other energy associated building components, and are stressed to find the capital to make the improvements.

Although it may not provide a net positive cash flow, a CEGC PACE loan can sometimes be a source of funds to do these projects as well, especially if significantly increased efficiencies in other building components are included in the plan.

Call us and find out how we can make this work for you. 305-359-5323