Lauderhill homeowners may get a healthy green boost, as the city launches their residential energy loan program.
Originally restricted to commercial properties, the initiative now offers low-interest financing on energy-saving retrofits such as green-friendly hurricane windows, water heaters and solar panels and is offered in Florida by the Florida PACE Funding Agency. The financing program is called Evest Florida.
Unlike traditional loans, PACE funding is not based on credit scores. The program pays for the total cost of the project, with the money being repaid over a period of time as an assessment that is added to the property tax bill.
In 2010, Florida approved the program, which is quite popular in states such as California, Connecticut, Texas, New York and Ohio. Tamarac was the first city in the county to offer the program to its residents.