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LAUDERDALE LAKES- The City of Lauderdale Lakes Commission voted in favor of supporting the Property Assessed Clean Energy (PACE) program that would assist Lauderdale Lakes property owners with financing for energy efficiency and renewable energy upgrades to their homes.
PACE programs allow a property owner to make certain improvements to their property and finance the costs by placing them on the property tax roll as a special assessment for that property. The property owner then pays off the special assessment over time, together with the property taxes. “This is an awesome program for our residents,” said City Manager Kelvin L. Baker, Sr. “The Mayor and Commission along with staff is constantly searching for innovative ways to assist the residents of Lauderdale Lakes and upgrade the community as a whole. This will definitely assist with that ongoing project.”
With PACE programs, property owners have the opportunity to make improvements such as replacing an old roof, installing solar panels, installing tankless water heaters, installing wind proof windows or making any other storm safety repairs or improvements to their homes without having to pay for the repairs up-front. PACE financing helps property owners overcome the barrier of high up-front costs, and thus encourage the installation of renewable-energy equipment and other improvements that would increase energy efficiency. There are many U.S. cities that participate in the PACE program that report positive feedback. Lauderdale Lakes should prove to be no different from the other benefiting cities.
For more information or to request a tour of the City, please contact the Public Information Office at 954.535.2838.