PACE providers tell Pinellas commissioners homeowners risk liens after prolonged legal fight

Two representatives for PACE (Property Assessed Clean Energy) financing providers warned the Pinellas County Board of County Commissioners that homeowners who used PACE loans to hurricane-harden their homes could face unresolved liens and refinancing problems unless local tax collectors place the assessments on the tax roll.

Chris Peterson of Fortify Financial told the board the Florida PACE Funding Agency (FPFA) issue has been litigated multiple times and that, in his account, a high court ruling and state legislation (SB 770) have supported the legality of many assessments. Peterson said counties and tax collectors must still agree to local interlocal arrangements in order for providers to operate in a county under SB 770.

Chris Nard, president of 4 to 5 Financial, described nearly three years of legal battles and said the litigation has cost PACE providers “millions of dollars.” He said the firm performed roughly 173 assessments in Pinellas County and that about half of those were billed directly rather than appearing on the tax roll. "If these things don't get on the tax roll in March by March 31, these people could go 3 years behind," Nard warned, saying unpaid assessments complicate refinancing for homeowners with moderate FICO scores.

Why it matters: PACE assessments create liens on properties that typically are collected through tax rolls; if assessments are billed or enforced outside the tax roll, homeowners can become delinquent and face financial and refinancing consequences. The providers urged the county to work toward resolution so homeowners are not left holding uncollectible or confusing debts.

What commissioners heard: Staff did not propose a new policy at the meeting; commissioners received the update during the public comment period. Providers offered to share supporting paperwork and meet with county staff to clarify file details.

Quoted: Chris Peterson and Chris Nard provided the substantive warnings to the board and offered follow-up documentation to staff and commissioners.