FDFC PACE Program definition
Examples of FDFC PACE Program in a sentence
This Agreement, together with the resolution by the governing board of the City approving this Agreement, shall be considered the Parties' consent to authorize ▇▇▇▇ to exercise its powers pursuant to Section 163.08, Florida States and to provide access for the FDFC PACE Program to operate within the legal boundaries of the City, as required by Section 163.08, Florida Statutes.
For any such bonds, the bond disclosure document, if any, shall include references to the fact that the City is not an obligated party, and also adequately disclose material attendant risks with the FDFC PACE Program.
For the limited purposes of administering the FDFC PACE Program and imposing non-ad valorem special assessments as described in this Agreement, the legal boundaries of ▇▇▇▇ shall include the legal boundaries of the City, which legal boundaries may be limited, expanded, or more specifically designated from time to time by the City.
Notwith- standing termination of this Agreement, however, property owners whose applications were approved prior to the Termination Date, and who received funding through the FDFC PACE Program, shall continue to be a part of ▇▇▇▇, for the sole purpose of ▇▇▇▇ impos- ing assessments for the repayment of such property's outstanding debt, until such time that all outstanding debt has been satisfied.
Within the legal boundaries of the City, improved real property, in- cluding any residential, commercial, agricultural and industrial use may be eligible for par- ticipation in the FDFC PACE Program within the limits otherwise prescribed in Section 163.08, Florida Statutes.
The City hereby finds and acknowledges that access to financing for Qualifying Improvements through the FDFC PACE Program provides a special benefit to real property within its legal boundaries which special benefit is secured by the imposition, levy, apportionment and collection of non-ad valorem special assessments consistent with the common powers provided in this Agree- ment.
The FDFC PACE Program, this Agreement and the Interlocal Agreement are non-exclusive for the City, meaning the City specifically reserves the right to join any other entity providing a similar program under Section 163.08, Florida Statutes, or create its own program under Section 163.08, Florida Statutes.
The purpose of this Agreement is to facilitate the financing of qualifying im- provements through a PACE program, in accordance with Section 163.08, Florida Statutes (the "Qualifying Improvements"), and provide an efficient process for real property owners within the legal boundaries of the City to access the Florida Development Finance Corpo- ration (FDFC) PACE Program (the “FDFC PACE Program”) and permit ▇▇▇▇ to ▇▇▇▇ assessments for the FDFC PACE Program within such legal boundaries.