Miami-Dade County - Green Corridor Property Assessed Clean Energy District

Program Miami-Dade County - Green Corridor Property Assessed Clean Energy District
Category Financial Incentive
Implementing sector Local
Last Update
State Florida
Administrator Miami-Dade County
Technologies Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Photovoltaics, Daylighting
Sectors Residential

Note: In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENow for more information about PACE financing, and for a comprehensive list of all PACE programs across the country.

In November 2010, the Miami-Dade County Board of County Commissioners adopted Ordinance No. 10-78, creating the Voluntary Energy Efficiency and Renewable Energy Program, which could be adopted by municipalities within the County. In July 2016, the Board approved Resolution R-734-16, which extended PACE to the unincorporated areas of the County. 

The 2016 Resolution also approved agreements between the County and Green Corridor Property Assessment Clean Energy District (Green Corridor) and its administrator, Ygrene Energy Fund Florida. Per the terms of the agreement, Ygrene will administer the County's PACE program on its behalf and with participation from the County. 

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