FLORIDA GREEN FINANCE AUTHORITY

Regular Board Meeting June 27, 2025
2:00 P.M.

AGENDA
FLORIDA GREEN FINANCE AUTHORITY
Town of Mangonia Park Municipal Center
1755 East Tiffany Drive Mangonia Park, FL 33407
1-800-743-4099 Access 9363638 REGULAR BOARD MEETING June 27, 2025
2:00 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
March 13, 2025 Regular Board Meeting	Page 4
Status/Program Update – Information Report…	Page 9
Residential
Commercial
Old Business
Update Regarding Ongoing PACE Litigation in Florida
New Business
Consider Resolution No. 2025-02 – Adopting a Fiscal Year 2025/2026 Proposed Budget	Page 17
Consider Resolution No. 2025-03 – Approving and Establishing the Applicable Maximum Rates, Fees and Other Charges Imposed on Property Owners in Connection with the Renewpace
Program; Providing an Effective Date and for Other Purposes…	Page 26
Consider Resolution No. 2025-04 – Approving and Establishing the Applicable Maximum Rates, Fees and Other Charges Imposed on Property Owners in Connection with the Petros
C-Pace Program	Page 29
Administrative Matters
Discussion Regarding Conference Stipend
Board Member Comments
Adjourn

Publication Date 2025-06-17

Subcategory Miscellaneous Notices

NOTICE OF REGULAR BOARD MEETING OF FLORIDA GREEN FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Supervisors (Board) of the Florida Green Finance Authority (Authority) will hold a Regular Board Meeting on June 27, 2025, at 2:00 P.M. (EST) at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407.
The purpose of this meeting is to conduct any business coming before the Board. The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Agenda for this meeting may be obtained from the Authoritys website or by contacting the Authority Manager at 561-630- 4922 and/or toll free at 1-877-737-4922 prior to the meeting.
Such meeting will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting from the Actual Meeting Location, as well as Remote Meeting Locations. Said locations where members of the public may attend and participate are as follows:
Palm Beach County, FL: Town of Mangonia Park Municipal Center (Actual Meeting Location)
1755 East Tiffany Drive Mangonia Park, FL 33407
Sarasota County, FL: City of North Port (Remote Meeting Location)
1100 North Chamberlain Boulevard North Port, FL 34286
Escambia County, FL: Whibbs Conference Room (Remote Meeting Location)
City of Pensacola City Hall, 1st Floor 222 West Main Street Pensacola, FL 32502
(2:00 P.M. Eastern/1:00 P.M. Central)
If any person decides to appeal any decision made with respect to any matter considered at this meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at this meeting should contact the Authority Manager at 561- 630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the meeting.
Meetings may be cancelled from time to time without advertised notice. FLORIDA GREEN FINANCE AUTHORITY
www.flgfa.org 6/17/25 #11398476

Publication Date 2025-06-17

Subcategory Miscellaneous Notices

NOTICE OF REGULAR BOARD MEETING OF FLORIDA GREEN FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Supervisors (Board) of the Florida Green Finance Authority (Authority) will hold a Regular Board Meeting on June 27, 2025, at 2:00 P.M. (EST) at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407.
The purpose of this meeting is to conduct any business coming before the Board. The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Agenda for this meeting may be obtained from the Authoritys website or by contacting the Authority Manager at 561-630- 4922 and/or toll free at 1-877-737-4922 prior to the meeting.
Such meeting will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting from the Actual Meeting Location, as well as Remote Meeting Locations. Said locations where members of the public may attend and participate are as follows:
Palm Beach County, FL: Town of Mangonia Park Municipal Center (Actual Meeting Location)
1755 East Tiffany Drive Mangonia Park, FL 33407
Sarasota County, FL: City of North Port (Remote Meeting Location)
1100 North Chamberlain Boulevard North Port, FL 34286
Escambia County, FL: Whibbs Conference Room (Remote Meeting Location)
City of Pensacola City Hall, 1st Floor 222 West Main Street Pensacola, FL 32502
(2:00 P.M. Eastern/1:00 P.M. Central)
If any person decides to appeal any decision made with respect to any matter considered at this meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at this meeting should contact the Authority Manager at 561- 630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the meeting.
Meetings may be cancelled from time to time without advertised notice. FLORIDA GREEN FINANCE AUTHORITY
www.flgfa.org 6/17/25 #11398556

Publication Date 2025-06-17

Subcategory Miscellaneous Notices

NOTICE OF REGULAR BOARD MEETING OF FLORIDA GREEN FINANCE AUTHORITY
NOTICE IS HEREBY GIVEN that the Board of Supervisors (Board) of the Florida Green Finance Authority (Authority) will hold a Regular Board Meeting on June 27, 2025, at 2:00 P.M. (EST) at the Town of Mangonia Park Municipal Center located at 1755 East Tiffany Drive, Mangonia Park, Florida 33407.
The purpose of this meeting is to conduct any business coming before the Board. The meeting is open to the public and will be conducted in accordance with the provisions of Florida law. A copy of the Agenda for this meeting may be obtained from the Authoritys website or by contacting the Authority Manager at 561-630- 4922 and/or toll free at 1-877-737-4922 prior to the meeting.
Such meeting will involve the use of Communications Media Technology. Members of the public may attend and participate in the meeting from the Actual Meeting Location, as well as Remote Meeting Locations. Said locations where members of the public may attend and participate are as follows:
Palm Beach County, FL: Town of Mangonia Park Municipal Center (Actual Meeting Location) 1755 East Tiffany Drive
Mangonia Park, FL 33407
Sarasota County, FL: City of North Port (Remote Meeting Location) 1100 North Chamberlain Boulevard
North Port, FL 34286
Escambia County, FL: Whibbs Conference Room (Remote Meeting Location) City of Pensacola
City Hall, 1st Floor 222 West Main Street Pensacola, FL 32502
(2:00 P.M. Eastern/1:00 P.M. Central)
If any person decides to appeal any decision made with respect to any matter considered at this meeting, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at this meeting should contact the Authority Manager at 561- 630-4922 and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the meeting.
Meetings may be cancelled from time to time without advertised notice. FLORIDA GREEN FINANCE AUTHORITY

MINUTES
FLORIDA GREEN FINANCE AUTHORITY REGULAR BOARD MEETING AND PUBLIC HEARING
MARCH 13, 2025

Call to Order
District Manager Andrew Karmeris called the March 13, 2025, Regular Board Meeting of the Florida Green Finance Authority to order at 2:03 p.m. at the Town of Lantana located at 500 Greynolds Circle, Lantana, Florida 33462.

Proof of Publication
Proof of publication was presented showing that notice of the Regular Board Meeting been published in the Palm Beach Post, Sarasota Herald Tribune, and Pensacola News Journal on March 4, 2025, as legally required.

Establish Quorum
A quorum was established with the following Supervisors present:

Supervisor	Jurisdiction		
Chairperson Nicole Dritz	Town of Lantana	Present	
Alternate Darrion Scott	Town of Mangonia Park	Present	
Dave Robau	City of Pensacola	Present (via telephone)	
Nancy Gallinaro	City of North Port	Present (via telephone)	

Others present at the meeting included:

Staff Member	Company/Agency	
Andrew Karmeris	Special District Services	
Mitty Barnard	Davis & Associates, P.A.	

Others appearing by phone included:

Staff Member	Company/Agency	
Erin Deady	Erin L. Deady, P.A.	
Bill Capko	Lewis, Longman & Walker	
Matthew Choy	Renew Financial	
Laura Bravo	Renew Financial	
James Candela	Special District Services	

Additions or Deletions to Agenda

There were no additions or deletions to the agenda.

Comments from the Public for Items Not on the Agenda

There we no comments from the Public.

Approval of Minutes

September 12, 2024 Regular Board Meeting & PH Minutes

There was a motion made by Alternate Scott, seconded by Chairperson Dritz, to approve the minutes of the September 12, 2024 Regular Board Meeting & Public Hearing, as presented. The Board was polled:

Supervisor	Jurisdiction	Vote	
Chairperson Nicole Dritz	Town of Lantana	Yes	
Alternate Darrion Scott	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Nancy Gallinaro	City of North Port	Yes	

The motion carried 4-0.

Status/Program Update – Information Report

Residential
Ms. Laura Bravo provided a program update by reviewing the materials in the agenda package.

Mr. Matthew Choy provided information regarding expansion in Florida and state legislation updates.

Commercial
Ms. Erin Deady also provided an update on State and Federal legislation and fielded questions from the Board.

Old Business

1. Update Regarding Ongoing PACE Litigation in Florida
Ms. Erin Deady provided an update and mentioned the changes to the interlocal agreement for Broward County.

New Business

Consider Approval of Addendum #2 to the Second Amended and Restated RenewPACE Administration Services Agreement.

Counsel Mitty Barnard presented this Addendum and explained the language changes required by Broward County.

Chairperson Dritz asked if staff has any issues getting records from program providers? Mr. Karmeris said no.

A motion made by Alternate Scott, seconded by Chairperson Dritz to approve the Addendum #2 to the Second Amended and Restated RenewPACE Administration Services Agreement, as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chairperson Nicole Dritz	Town of Lantana	Yes	
Alternate Darrion Scott	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Nancy Gallinaro	City of North Port	Yes	

The motion carried 4-0.

Consider Third Amendment to Commercial PACE Program Administration Services Agreement by and Between the Florida Green Finance Authority and Petros PACE Administrator, LLC.

Counsel Mitty Barnard presented this Amendment and informed the board that is almost the same as the previous item but for the commercial PACE agreement.

A motion made by Alternate Scott, seconded by Chairperson Dritz to approve the Third Amendment to Commercial PACE Program Administration Services Agreement by and Between the Florida Green Finance Authority and Petros PACE Administrator, LLC., as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chairperson Nicole Dritz	Town of Lantana	Yes	
Alternate Darrion Scott	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	

Nancy Gallinaro	City of North Port	Yes	

The motion carried 4-0.

Consider Resolution No. 2025-01 – Adopting a FY2023-2024 Amended Final Budget
Mr. Karmeris presented Resolution No. 2025-01 – Adopting a FY2023-2024 Amended Final Budget. There were no questions from the Board.

A motion made by Supervisor Scott, seconded by Chairperson Dritz to approve Resolution No. 2025-01 – Adopting a FY2023-2024 Amended Final Budget, as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chairperson Nicole Dritz	Town of Lantana	Yes	
Alternate Darrion Scott	Town of Mangonia Park	Yes	
Dave Robau	City of Pensacola	Yes	
Nancy Gallinaro	City of North Port	Yes	

The motion carried 4-0.

Administrative Matters

Ms. Barnard thanked the Board for accommodating the change in meeting date.

Board Member Comments

There were no Board member comments.

Adjournment

A motion made by Supervisor Scott, seconded by Chairperson Dritz to adjourn the meeting at 2:19 p.m., as presented.

The Board was polled:

Supervisor	Jurisdiction	Vote	
Chairperson Nicole Dritz	Town of Lantana	Yes	
Alternate Darrion Scott	Town of Mangonia Park	Yes	

Dave Robau	City of Pensacola	Yes	
Nancy Gallinaro	City of North Port	Yes	

The motion carried 4-0.

Chairman/Vice Chair	Secretary/Asst. Secretary

Information Report

DATE:	JUNE 5, 2025 (RESCHEDULED)
FGFA PROGRAM:	RENEWPACE – PROPERTY ASSESSED CLEAN ENERGY PROGRAM
PURPOSE:
Update on renewPACE Residential Program
Update on Marketing Efforts
UPDATE ON STATE AND FEDERAL LEGISLATION
Update on RPACE enrolled jurisdictions
Update on Tax Collector Agreements

BOARD MEMBERS:
Chair Nicole Dritz, Town of Lantana
Vice Chair Ken Metcalf, Town of Mangonia Park Dave Robau, City of Pensacola
Wayne Messam, City of Miramar Nancy Gallinaro, City of North Port

Background:

RenewPACE is a Program of the Florida Green Finance Authority (the “Authority”) designed to offer communities, property owners and capital providers a multitude of options for investing in community improvements that save both energy and money. The Authority Board of Supervisors (“Board”) is being asked to hear or consider several items for the RenewPACE residential program, as well as administrative items related to the management of the Authority:

Discussion:

UPDATE ON RENEWPACE RESIDENTIAL PROGRAM

Program Application Statistics (as of 6/5/2025)
The program is contributing to the local goals of creating jobs and saving energy.
Jobs created: 15,729

1

Utility bill savings electricity (lifetime): $ 269,680,679
Utility bill savings natural gas (lifetime): $38,318,394
Lifetime energy generation & savings:
Renewable energy generated (kWh): 952,527,993
Energy saved (kWh): 417,292,714
Therms saved: 30,411,424
Green House Gas Reductions: 544,937 metric tons Below is a summary of program application statistics.
As of 6/5/2025	11/9/2023	02/12/202
4	6/11/2024	8/21/2024	11/19/202
4	3/4/2025	6/5/2025	
# Applications	97,512	101,360	104,278	109,230	115,201	120,881	127,533	
Total App Value	$2,687,976, 472	$2,858,991, 723	$2,954,903, 381	$3,140,514, 156	$3,346,745, 619	$3,545,750, 301	$3,761,125, 412	
Average Assessment
Value	$26,418	$26,869	$27,172	$27,405	$27,661	$28,028	$28,329	
Notice to Proceed (#/$)*	38,768 /
$1,080,768, 080	40,250 /
$1,130,154, 333	42,858 /
$1,220,626, 621	44,562 /
$1,278,446, 082	46,557 /
$1,346,320, 609	48,477 /
$1,412,412, 298	50,956 /
$1,495,670, 091	
Funded (#/$)	27,074 /
$715,592,3 13	28,112 /
$752,654,9 33	29,881 /
$811,935,7 78	30,990 /
$849,284,8 41	32,493 /
$898,772,8 58	34,339 /
$962,442,4 05	36,188 /
$1,025,182, 746	
# Active
Contractors	759	725	726	741	754	802	886	
# Counties Approved
(RPACE)	25	24	24	24	24	25	25	
*Inclusive of funded projects

*Q2 2025 up to 6/5/2025

As of 6/5/2025	# of Applications	Total Application Value	NTP # / $*	Funded (#/$)	
Town of Lantana	258	$7,662,509	114 / $3,270,098	78 / $2,176,649	
Town of Mangonia Park	35	$1,119,407	20 / $676,076	11 / $254,935	
City of Pensacola	100	$3,077,987	6 / $154,709	2 / $49,031	
City of Miramar	3,745	$124,224,036	1,594/ $57,483,888	1041 / $35,944,015	
City of North Port	724	$16,240,185	320 / $5,813,688	261 / $4,550,767	
*Inclusive of funded projects

Applications have been submitted for a range of products including air source heat pumps, insulation, duct replacement, water heaters, windows, wind-resistant shingles, storm windows, storm shutters, doors, central air conditioners, solar, and roofs.

Renewable Energy Project %	Energy Efficiency Project %	Safety & Resilience Project %	
16%	19%	65%	

Program Policy Updates

Per Resolution 2016-03 (Section 9), the Board authorized the Program Administrator to amend the Residential Handbook from time to time. Per Exhibit A of the Third-Party Administration Services Agreement Section I.3.a.iv, Renew Financial is responsible for maintaining “Program Application & Funding Request Forms”. The following is a brief summary of the updates. Renew Financial has provided an opportunity for review of the policy details to the standard working group that includes Special District Services, legal counsels, and key partners prior to implementing any new policy.

Consumer Complaints

Renew Financial tracks consumer complaints. There are currently 63 unresolved complaints. Complaints are addressed through outreach to the property owner(s) and contractor (if applicable). Complaints were resolved in an average of 68 calendar days. Renew Financial makes every effort to address and resolve issues quickly. Delays in resolution may occur depending on availability of the parties and degree of the complaint. Resolution resulted in a variety of actions including, but not limited to, additional training of contractor, confirmation of key terms with property owner, withdraw of application at request of property owner, and refund of a portion of the cost to the property owner by the contractor.

Below is a brief summary of complaints (as of 6/5/2025):
Number of complaints received and resolved since program launch in 2016: 1,497
Complaint Rate: 4.2%
Contractor related complaints: 1338
Most common categories of complaints: Workmanship; Delayed/Incomplete Projects
Update on Marketing efforts

Any updates will be provided at the Authority Board meeting.

UPDATE ON STATE AND FEDERAL LEGISLATION

Any updates will be provided at the Authority Board meeting.

UPDATE ON ENROLLED JURISDICTIONS (see list on the following pages)

Map of Residential Opt-Ins:

BREVARD
Cape Canaveral
Indian Harbour Beach
Satellite Beach

BROWARD
Coconut Creek*
Cooper City*
Coral Springs*
Dania Beach*
Davie*
Deerfield Beach*
Fort Lauderdale
Hallandale Beach*
Hillsboro Beach*
Hollywood*
Lauderdale-by-the-Sea*
Lauderdale Lakes*
Lauderhill*
Lazy Lake*
Lighthouse Point*
Margate
Miramar
North Lauderdale*
Oakland Park*
Parkland*
Pembroke Park*
Pembroke Pines
Plantation*
Pompano Beach
Sea Ranch Lakes*
Southwest Ranches*
Sunrise*
Tamarac*
Weston*
West Park*
Wilton Manors*
Unincorporated County*
CHARLOTTE (CPACE)
Punta Gorda
Unincorporated County

CITRUS
Inverness*
Crystal River*
Unincorporated County

COLLIER
Naples
Unincorporated County (CPACE)

COLUMBIA
Unincorporated County (CPACE)

ESCAMBIA
Century (CPACE)
Pensacola
Unincorporated County (CPACE)
HILLSBOROUGH
Unincorporated County
HIGHLANDS
Sebring (CPACE)
Lake Placid (CPACE)
Avon Park (CPACE)
Unincorporated County (CPACE)
Indian River
Fellsmere
Sebastian
Unincorporated County (CPACE)

JEFFERSON
Monticello*
Unincorporated County

LAKE
Eustis (CPACE)
Leesburg
Mount Dora

LEE
Bonita Springs
Cape Coral
Estero
Fort Myers

LEVY
Williston
Unincorporated County

MANATEE
Bradenton*
Bradenton Beach*
Palmetto*
Unincorporated County

MARION
Unincorporated County
MARTIN
Sewall’s Point
Stuart
Unincorporated County
MIAMI-DADE
Aventura
Biscayne Park
Coral Gables

OSCEOLA
Kissimmee*
St. Cloud*
Unincorporated County

PALM BEACH
Atlantis*
Belle Glade*
Boca Raton*
Boynton Beach
Briny Breezes*
Cloud Lake*
Delray Beach
Glen Ridge*
Golf
Greenacres*
Gulfstream*
Haverhill*
Highland Beach*
Hypoluxo*
Juno Beach*
Jupiter*
Jupiter Inlet Colony*
Lake Clarke Shores*
Lake Park*
Lake Worth
Lantana
Loxahatchee Groves*
Manalapan*
Mangonia Park
North Palm Beach
Ocean Ridge*
Pahokee*
Palm Beach*
Palm Beach Gardens*
Palm Beach Shores
Palm Springs*
Riviera Beach*
Royal Palm Beach*
South Bay*
South Palm Beach*
Tequesta
Wellington*
West Lake*
West Palm Beach
Unincorporated County
PASCO
Port Richey
Zephyrhills
Unincorporated County
PINELLAS
Gulfport (CPACE)

SARASOTA
North Port*

DUVAL
Jacksonville (CPACE)

Cutler Bay
Doral
El Poral
Hialeah
Hialeah Gardens
Homestead
Key Biscayne
Medley
Miami
Miami Beach
Miami Gardens
Miami Lakes
Miami Shores Village
Miami Springs
North Bay Village
North Miami
North Miami Beach
Opa-Locka
Palmetto Bay
Pinecrest
South Miami
Surfside
Sweetwater
Virginia Gardens
West Miami
Unincorporated County

MONROE
Islamorada*
Key Colony Beach*
Key West*
Layton*
Marathon*
Unincorporated County
NASSAU
Fernandina Beach

ORANGE
Apopka
Belle Isle
Ocoee (CPACE)
Orlando
Winter Garden (CPACE)
Winter Haven (CPACE)
Winter Park
Unincorporated County (CPACE)

Sarasota*
Venice*
Unincorporated County
SEMINOLE
Longwood
Oviedo
Sanford

ST. JOHNS
Unincorporated County (CPACE)

SUWANNEE
Branford
Live Oak
Unincorporated County

VOLUSIA
Edgewater
Orange City
Port Orange
Unincorporated County (CPACE)

Those jurisdictions denoted with an asterisk became Parties to the Authority through the County’s Interlocal Agreement.

2 Please note that with regard to Sebastian that while it had signed onto the Original ILA, we are currently in extended discussions with this jurisdiction about signing onto to the updated Second Amended and Restated ILA. Until we finalize these discussions we have verbally agreed not to activate residential PACE in the jurisdiction until those discussions have concluded.

UPDATE ON TAX COLLECTOR AGREEMENTS

Uniform Collection Agreements are currently in place with the following county Tax Collector’s offices: Alachua, Brevard, Broward, Charlotte, Citrus, Collier, Duval, Escambia, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Levy, Manatee, Marion (re-executed), Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Sarasota, Seminole, St. Johns, Suwannee, and Volusia.

RESOLUTION NO. 2025-02

A RESOLUTION OF THE FLORIDA GREEN FINANCE AUTHORITY, ADOPTING A PROPOSED BUDGET FOR FISCAL YEAR 2025/2026 AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Florida Green Finance Authority is required to approve a Proposed Budget for each fiscal year; and

WHEREAS, the Proposed Budget including the Assessments for Fiscal Year 2025/2026 has been prepared and considered by the Board.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY THAT:

Section 1.	The Proposed Budget including the Assessments for Fiscal Year 2025/2026 attached hereto as Exhibit “A” is approved and adopted.

Section 2.	A Public Hearing is hereby scheduled for 	, 2025 at 2:00 p.m. located at 		
	, for the purpose of receiving public comments on the Proposed Fiscal Year 2025/2026 Budget.

PASSED AND ADOPTED this 27th day of June, 2025.

ATTEST:	FLORIDA GREEN FINANCE AUTHORITY

Secretary	Chairman

APPROVED FOR FORM AND LEGAL SUFFICIENCY

Attorney

Florida Green Finance Authority

Proposed Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

COMMERCIAL BUDGET

RESIDENTIAL BUDGET
PARTICIPANTS

COMMERCIAL BONDS

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Combined Commercial and Residential)

FISCAL YEAR 2025/2026
BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	270,000	
O & M Assessments (Commercial)	0	
Loan Revenues (Residential)	20,136,371	
Loan Revenues (Commercial)	0	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	167,600	
Interest Income	300	
TOTAL REVENUES	$	20,684,271	
		
VARIABLE EXPENDITURES		
Assessment Roll	291,071	
Miscellaneous	10,000	
TOTAL VARIABLE EXPENDITURES	$	301,071	
		
FIXED EXPENDITURES		
Management	48,000	
Legal	90,000	
Audit Fees	16,500	
Insurance	15,000	
Legal Advertisements	9,000	
Travel/Conference	15,000	
New County Set-up Fee	1,000	
Dues & Subscriptions	1,200	
Trustee Fees	4,000	
Website Management	2,000	
Miscellaneous - postage, office supplies, etc.	1,500	
Commercial Closing Fee	60,000	
Palm Beach County Pace Project Fees	20,000	
Financial Advisory Fees	10,000	
TOTAL FIXED EXPENDITURES	$	293,200	
		
TOTAL EXPENDITURES	$	594,271	
		
REVENUES LESS EXPENDITURES	$	20,090,000	
		
Loan Payments (Residential)	(19,700,000)	
Loan Payments (Commercial)	0	
		
BALANCE	$	390,000	
		
Fees (Residential)	(280,000)	
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	110,000	
		
Program Reinvestment (Residential)	(100,000)	
Program Reinvestment (Commercial)	(10,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll). Approx. Additions For 2025/2026 (before any prepayments): 6,356

DETAILED PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Combined Commercial and Residential)

FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
					
REVENUES					
Projected Carry Forward Surplus	0	100,000	100,000		
O & M Funding Contributions	187,470	270,000	270,000	No Change From 2024/2025 Budget	
O & M Assessments (Commercial)	0	0	0	BrandsMart Has Paid Off 2015-1 Bond	
Loan Revenues (Residential)	43,799,364	20,025,905	20,136,371	Loan Revenues (Residential)	
Loan Revenues (Commercial)	500	0	0	Loan Revenues (Commercial)	
Other Revenue - Commercial Closing Fees	2,500	10,000	10,000		
Other Revenue - Administrator Cost Sharing	151,105	87,050	167,600		
Interest Income	38,427	300	300	Interest Estimated At $25 Per Month	
TOTAL REVENUES	$ 44,179,366	$ 20,493,255	$  20,684,271		
					
VARIABLE EXPENDITURES					
Assessment Roll	243,088	221,155	291,071	26,461 X $11 - Based On Approximate Participants	
Miscellaneous	0	10,000	10,000	Miscellaneous	
TOTAL VARIABLE EXPENDITURES	$	243,088	$	231,155	$	301,071		
					
FIXED EXPENDITURES					
Management	43,910	48,000	48,000	No Change From 2024/2025 Budget	
Legal	101,773	75,000	90,000	$15,000 Increase From 2024/2025 Budget	
Audit Fees	0	16,500	16,500	Per Contract	
Insurance	3,956	3,900	15,000	Insurance Estimate	
Legal Advertisements	3,123	9,000	9,000	No Change From 2024/2025 Budget	
Travel/Conference	0	0	15,000	New Budget Item	
New County Set-up Fee	0	1,000	1,000	Estimated At One New County	
Dues & Subscriptions	815	1,200	1,200	No Change From 2024/2025 Budget	
Trustee Fees	0	4,000	4,000	No Change From 2024/2025 Budget	
Website Management	1,500	2,000	2,000	No Change From 2024/2025 Budget	
Miscellaneous - postage, office supplies, etc.	2,724	1,500	1,500	No Change From 2024/2025 Budget	
Commercial Closing Fee	60,485	0	60,000	New Budget Item	
Palm Beach County Pace Project Fees	19,124	0	20,000	New Budget Item	
Financial Advisory Fees	0	10,000	10,000	Financial Advisory Fees	
TOTAL FIXED EXPENDITURES	$	237,410	$	172,100	$	293,200		
					
TOTAL EXPENDITURES	$	480,498	$	403,255	$	594,271		
					
REVENUES LESS EXPENDITURES	$ 43,698,868	$ 20,090,000	$  20,090,000		
					
Loan Payments (Residential)	(43,284,422)	(19,700,000)	(19,700,000)	Loan Payments (Residential)	
Loan Payments (Commercial)	(485)	0	0	Loan Payments (Commercial)	
					
BALANCE	$	413,961	$	390,000	$	390,000		
					
Fees (Residential)	(476,378)	(280,000)	(280,000)	Fees (Residential)	
Fees (Commercial)	(15)	0	0	Fees (Commercial)	
					
Excess/ (Shortfall)	$	(62,432)	$	110,000	$	110,000		
					
Program Reinvestment (Residential)	0	(100,000)	(100,000)	Program Reinvestment (Residential)	
Program Reinvestment (Commercial)	0	(10,000)	(10,000)	Program Reinvestment (Commercial)	
					
Net Excess/ (Shortfall)	$	(62,432)	$	-	$	-		
					
Projected Fiscal Year-End Fund Balance	0	100,000	100,000		

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before any prepayments): 6,356

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Commercial Only)

FISCAL YEAR 2025/2026
COMMERCIAL BUDGET	
		
REVENUES		
O & M Assessments (Commercial)	0	
Bond/Loan Revenues (Commercial)	See Commercial Bond Page	
Other Revenue - Commercial Closing Fees	10,000	
Other Revenue - Administrator Cost Sharing	167,600	
Other Revenue - Buy In	0	
TOTAL REVENUES	$	177,600	
		
VARIABLE EXPENDITURES		
Miscellaneous	1,000	
TOTAL VARIABLE EXPENDITURES	$	1,000	
		
FIXED EXPENDITURES		
Management	24,000	
Legal	45,000	
Audit Fees	8,250	
Insurance	7,500	
Legal Advertisements	4,500	
Travel/Conference	7,500	
New County Set-up Fee	500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Miscellaneous - postage, office supplies, etc.	750	
Commercial Closing Fee	60,000	
Palm Beach County Pace Project Fees	0	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	166,600	
		
TOTAL EXPENDITURES	$	167,600	
		
REVENUES LESS EXPENDITURES	$	10,000	
		
Bond/Loan Payments (Commercial)	0	
		
BALANCE	$	10,000	
		
Fees (Commercial)	0	
		
Excess/ (Shortfall)	$	10,000	
		
Program Reinvestment/Carryover Credit	(10,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	$	-	
NOTE: A separate spreadsheet is kept to track provider specific carryover credit that can be applied to quarterly invoices.
6/20/2025 10:16 AM	III

PROPOSED BUDGET
FLORIDA GREEN FINANCE AUTHORITY
FISCAL YEAR 2025/2026 OCTOBER 1, 2025 - SEPTEMBER 30, 2026
(Residential Only)

FISCAL YEAR 2025/2026
RESIDENTIAL BUDGET	
		
REVENUES		
Projected Carry Forward Surplus	100,000	
O & M Funding Contributions	270,000	
Loan Revenues (Residential)	20,136,371	
Interest Income	300	
TOTAL REVENUES	$	20,506,671	
		
VARIABLE EXPENDITURES		
Assessment Roll	291,071	
Miscellaneous	9,000	
TOTAL VARIABLE EXPENDITURES	$	300,071	
		
FIXED EXPENDITURES		
Management	24,000	
Legal	45,000	
Audit Fees	8,250	
Insurance	7,500	
Legal Advertisements	4,500	
Travel/Conference	7,500	
New County Set-up Fee	500	
Dues	600	
Trustee Fees	2,000	
Website Management	1,000	
Miscellaneous - postage, office supplies, etc.	750	
Commercial Closing Fee	0	
Palm Beach County Pace Project Fees	20,000	
Financial Advisory Fees	5,000	
TOTAL FIXED EXPENDITURES	$	126,600	
		
TOTAL EXPENDITURES	$	426,671	
		
REVENUES LESS EXPENDITURES	$	20,080,000	
		
Loan Payments (Residential)	(19,700,000)	
		
BALANCE	$	380,000	
		
Fees (Residential)	(280,000)	
		
Excess/ (Shortfall)	$	100,000	
		
Program Reinvestment (Residential)	(100,000)	
		
Net Excess/ (Shortfall)	$	-	
		
Projected Fiscal Year-End Fund Balance	100,000	

Approx. Participants As Of June 2025: 26,461 (this number will decrease as prepaid & matured loans are removed from the roll).

Approx. Additions For 2025/2026 (before any prepayments): 6,356

FLORIDA GREEN FINANCE AUTHORITY PARTICIPANTS AS OF JUNE 2025

COUNTY	
COMMENCING FISCAL YEAR 2022/2023	
COMMENCING FISCAL YEAR 2023/2024	
COMMENCING FISCAL YEAR 2024/2025	
COMMENCING FISCAL YEAR 2025/2026	

TOTAL*	
						
Alachua	2	0	0	0	49	
Brevard	280	256	8	1	843	
Broward	1,020	2,147	1,736	1,894	10,358	
Charlotte	87	11	0	0	375	
Citrus	66	81	87	94	407	
Collier	0	0	1	0	52	
Escambia	0	1	1	0	3	
Hernando	0	0	0	0	238	
Highlands	0	0	1	0	1	
Hillsborough	0	0	0	42	1,423	
Indian River	1	1	2	0	4	
Jefferson	0	0	0	0	1	
Lake	1	0	3	1	5	
Lee	44	89	83	55	348	
Levy	4	7	2	14	40	
Manatee	90	113	142	94	708	
Marion	60	149	110	214	696	
Martin	19	58	21	24	188	
Miami-Dade	1358	2,253	1,723	2,084	10,000	
Monroe	3	7	7	2	29	
Okeechobee	5	18	3	0	26	
Orange	34	35	71	94	404	
Osceola	101	118	100	129	911	
Palm Beach	580	1,334	1,230	1,321	6,255	
Pasco	110	147	85	167	1,464	
Polk	14	21	17	0	73	
Sarasota	112	142	97	89	712	
Seminole	3	11	16	18	77	
Suwannee	0	1	0	3	4	
Volusia	7	19	22	16	73	
Sub-Total	4,001	7,019	5,568	6,356	35,767	
						
Less Prepayments	1,692	1,692	2,422	0	9,306	
						
Total	2,309	5,327	3,146	6,356	26,461	

Notes:
*Includes totals from years prior to those shown.
Prepayments include matured loans.
2024/2025 numbers are approximates.
2024/2025 prepayment numbers will continue to grow until the start of next year's enrollment.

FLORIDA GREEN FINANCE AUTHORITY COMMERCIAL BONDS AS OF JUNE 2025

BOND ISSUE	

ORIGINAL PAR AMOUNT	

CURRENT PAR AMOUNT	

MATURITY DATE	

ANNUAL ASSESSMENT AMOUNT	
					
Series 2014 Loan (E&M Spirits)	
$46,550.00	
$0.00	
May 2023	
$9,429.07	
Series 2015-1 (Brandsmart Project)	
$2,225,700.00	
$0.00	
Paid off	
$0.00	
Series 2018 (Dadeland Mall Project)	
$2,595,468.73	
$1,212,490.52	
November 2028	
$350,856.55	
Series 2018A (Orlando Outlets Project)	
$5,562,289.94	
$4,215,060.80	
November 2039	
$496,899.34	
Series 2020-A (Avid Viera)	
$3,471,908.43	
$0.00	
Paid off	
$0.00	
Series 2020-B (Home 2-Palm Bay)	
$3,930,000.00	
$3,698,363.22	
November 2046	
$312,209.65	
Series 2020-C (Hyatt-Palm Bay)	
$5,643,500.00	
$5,310,868.39	
November 2046	
$447,438.17	
Series 2020-D (Pruitt Health - Lutz)	
$3,340,018.09	
$3,211,680.59	
November 2047	
$261,701.69	
Series 2021-1 (Le Meridien)	
$37,650,000.00	
$36,047,715.42	
November 2047	
$2,689,983.39	
Series 2021-2 (Sheraton - Palmetto)	
$30,600,000.00	
$30,024,684.65	
November 2048	
$2,418,304.48	
Series 2022-1 (Pruitt Health - Pensacola)	
$5,335,050.00	
$5,235,879.97	
November 2048	
$422,279.36	
Series 2022-2 (Certus Waterford Lakes)	
$7,200,000.00	
$7,069,369.65	
November 2048	
$572,722.58	
Series 2022-3 (Spanish Moss Apartments)	
$3,961,068.11	
$3,961,068.11	
November 2047	
$333,839.33	
Series 2022-4 (Certus Vero Beach)	
$8,640,000.00	
$8,640,000.00	
November 2050	
$684,084.69	
Series 2023 (Proper South Beach)	
$31,569,161.68	
$0.00	
Paid off	
$0.00	
Series 2023 (Marriott Palmetto)	
$14,400,000.00	
$14,400,000.00	
November 2053	
$1,251,355.67	
Series 2024 (Delray Beach Market)	
$14,515,442.07	
$14,515,442.07	
November 2053	
$0.00	
Total	
$180,686,157.05	
$137,542,623.39		
$10,251,103.97	
					
Note:
BrandsMart Paid Off Series 2015-1 Bond In 2021. Avid Viera Paid Off Series 2020-A Bond In 2023.
6/20/2025 10:16 AM	VI

Amity R. Barnard, Esq.
Florida Bar Board Certified Attorney in City, County and Local Government Law LEED Green Associate
Email: mitty@davislawteam.com

June 5, 2025

AGENDA ITEM SUMMARY

To:	 Chair Dritz, Vice Chair Metcalf and Supervisors Messam, Robau and Gallinaro Cc:	Todd Wodraska, Secretary
From: Amity Barnard, General Counsel
Re:  RESOLUTION NO. 2025-03, A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, APPROVING AND ESTABLISHING THE APPLICABLE MAXIMUM RATES, FEES AND OTHER CHARGES IMPOSED ON PROPERTY OWNERS IN CONNECTION WITH THE RENEWPACE PROGRAM; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

The following describes the above-referenced agenda item:
Section 2.3 of the Broward County PACE Amended and Restated Interlocal Agreement with the Florida Green Finance Authority Relating to the Funding and Financing of Qualifying Improvements (“Broward ILA”) requires the Authority to annually establish the applicable maximum rates, fees, and other charges imposed on Property Owners in connection with utilization of the Authority’s PACE Program, including the rates paid by the Property Owner through the Financing Agreement (collectively, “Rates”). Such Rates must be just and equitable at the time of imposition for all Property Owners within Broward County. This section also requires the Authority to provide at least thirty (30) days’ prior written notice to the County of any meeting of its governing body at which will be considered any proposed increase(s) in Rates or any material change to the documentation required to be submitted to County under Section 20-176.133(d) of the Broward PACE Act.

The Board is asked to consider Resolution No. 2025-03 approving the maximum RenewPACE residential rates, fees and other charges as required by the Broward ILA. This will be an annual item for the Board’s consideration. The required notice to Broward County was sent via regular U.S. Mail and e-mail on April 30, 2025.

This is not a budgetary item and there is no fiscal impact for authorizing this resolution. General Counsel recommends that the Board pass the above-referenced resolution.

701 Northpoint Parkway, Suite 205, West Palm Beach, FL 33407 │ p 561-586-7116 www.davislawteam.com

LEADING ATTORNEYS IN LOCAL GOVERNMENT LAW AND ETHICS ♦

RESOLUTION NO. 2025-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, APPROVING AND ESTABLISHING THE APPLICABLE MAXIMUM RATES, FEES AND OTHER CHARGES IMPOSED ON PROPERTY OWNERS IN CONNECTION WITH THE RENEWPACE PROGRAM; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

WHEREAS, Renew Financial is the third-party administrator of the Florida Green Finance Authority’s (“Authority’s”) residential RenewPACE program; and

WHEREAS, Section 2.3 of the Broward County PACE Amended and Restated Interlocal Agreement with the Florida Green Finance Authority Relating to the Funding and Financing of Qualifying Improvements (“Broward ILA”) requires the Authority to annually establish the applicable maximum rates, fees, and other charges imposed on Property Owners in connection with utilization of the Authority’s PACE Program, including the rates paid by the Property Owner through the Financing Agreement (collectively, “Rates”). Such Rates must be just and equitable at the time of imposition for all Property Owners within Broward County; and

WHEREAS, Section 2.3 of the Broward ILA requires the Authority to provide at least thirty (30) days’ prior written notice to the County of any meeting of its governing body at which will be considered any proposed increase(s) in Rates or any material change to the documentation required to be submitted to County under Section 20-176.133(d) of the Broward PACE Act.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY AS FOLLOWS:

The Board of Supervisors of the Florida Green Finance Authority hereby approves and adopts the maximum program fees for the RenewPACE program, attached hereto as Exhibit “A”.

This Resolution shall become effective immediately upon its passage and adoption.
PASSED AND ADOPTED this 27th day of June, 2025.
FLORIDA GREEN FINANCE AUTHORITY

ATTEST:

By: 		 Authority Chair

Andrew Karmeris, Authority Secretary

Approved as to form and legal sufficiency

Amity Barnard, Authority General Counsel

Exhibit “A”
Maximum Program Fees (Residential)

Origination Fees
Program Administrator - an amount equal to the Financed Amount (as defined below) less (i) the Total Products Cost set forth in the Final Payment Summary (as defined in the applicable Financing Agreement), less (ii) Sponsor Origination Fee and the foreclosure expense reserve amount, less (iii) the Other Costs set forth in the Final Payment Summary (as defined in the applicable Financing Agreement), less (iv) the capitalized interest paid by the Property Owner as part of the Financing Amount and set forth in the Final Payment Summary (as defined in the Financing Agreement).

Total Financed Amount: The sum of (i) the Total Products Cost, (ii) the Total Closing Costs (as defined below), and (iii) the amount charged to the Property Owner for Buyer's Points (if applicable).
Total Closing Costs: The sum of $325 and the product of (i) the quotient of (x) the sum of the Total Products Costs and $325 and (y) the difference of I and the Closing Cost Percentage, and (ii) the Closing Cost Percentage.

Closing Cost Percentage: the sum of (i) the product of (A) the quotient of (x) the estimated days of capitalized interest that would be charged if funding occurred the day after the tax roll cut-off elate and
(y) 360 and (B) the interest rate charged to the Property Owner and (ii) 0.5%.
Sponsor - not to exceed 1.5% of the project amount Interest Rate
Not to exceed 15% Administrative Expenses
Program Administrator – annual, not to exceed $45 per year per Assessment

-2-

Amity R. Barnard, Esq.
Florida Bar Board Certified Attorney in City, County and Local Government Law LEED Green Associate
Email: mitty@davislawteam.com

June 5, 2025

AGENDA ITEM SUMMARY

To:	 Chair Dritz, Vice Chair Metcalf and Supervisors Messam, Robau and Gallinaro Cc:	Todd Wodraska, Secretary
From: Amity Barnard, General Counsel
Re:  RESOLUTION NO. 2025-04, A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, APPROVING AND ESTABLISHING THE APPLICABLE MAXIMUM RATES, FEES AND OTHER CHARGES IMPOSED ON PROPERTY OWNERS IN CONNECTION WITH THE PETROS C-PACE PROGRAM; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

The following describes the above-referenced agenda item:
Section 2.3 of the Broward County PACE Amended and Restated Interlocal Agreement with the Florida Green Finance Authority Relating to the Funding and Financing of Qualifying Improvements (“Broward ILA”) requires the Authority to annually establish the applicable maximum rates, fees, and other charges imposed on Property Owners in connection with utilization of the Authority’s PACE Program, including the rates paid by the Property Owner through the Financing Agreement (collectively, “Rates”). Such Rates must be just and equitable at the time of imposition for all Property Owners within Broward County. This section also requires the Authority to provide at least thirty (30) days’ prior written notice to the County of any meeting of its governing body at which will be considered any proposed increase(s) in Rates or any material change to the documentation required to be submitted to County under Section 20-176.133(d) of the Broward PACE Act.

The Board is asked to consider Resolution No. 2025-04 approving the maximum C-PACE rates, fees and other charges as required by the Broward ILA. This will be an annual item for the Board’s consideration. The required notice to Broward County was sent via regular
U.S. Mail and e-mail on April 30, 2025.

This is not a budgetary item and there is no fiscal impact for authorizing this resolution. General Counsel recommends that the Board pass the above-referenced resolution.

701 Northpoint Parkway, Suite 205, West Palm Beach, FL 33407 │ p 561-586-7116 www.davislawteam.com

LEADING ATTORNEYS IN LOCAL GOVERNMENT LAW AND ETHICS ♦

RESOLUTION NO. 2025-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY, APPROVING AND ESTABLISHING THE APPLICABLE MAXIMUM RATES, FEES AND OTHER CHARGES IMPOSED ON PROPERTY OWNERS IN CONNECTION WITH THE PETROS C-PACE PROGRAM; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

WHEREAS, Petros PACE Administrator, LLC (“Petros”) is the third-party administrator of the Florida Green Finance Authority’s (“Authority’s”) Petros C-PACE program; and

WHEREAS, Section 2.3 of the Broward County PACE Amended and Restated Interlocal Agreement with the Florida Green Finance Authority Relating to the Funding and Financing of Qualifying Improvements (“Broward ILA”) requires the Authority to annually establish the applicable maximum rates, fees, and other charges imposed on Property Owners in connection with utilization of the Authority’s PACE Program, including the rates paid by the Property Owner through the Financing Agreement (collectively, “Rates”). Such Rates must be just and equitable at the time of imposition for all Property Owners within Broward County; and

WHEREAS, Section 2.3 of the Broward ILA requires the Authority to provide at least thirty (30) days’ prior written notice to the County of any meeting of its governing body at which will be considered any proposed increase(s) in Rates or any material change to the documentation required to be submitted to County under Section 20-176.133(d) of the Broward PACE Act.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FLORIDA GREEN FINANCE AUTHORITY AS FOLLOWS:

The Board of Supervisors of the Florida Green Finance Authority hereby approves and adopts the maximum program fees for the Petros C-PACE program, attached hereto as Exhibit “A”.

This Resolution shall become effective immediately upon its passage and adoption.
PASSED AND ADOPTED this 27th day of June, 2025.
FLORIDA GREEN FINANCE AUTHORITY

ATTEST:

By: 		 Authority Chair

Andrew Karmeris, Authority Secretary

Approved as to form and legal sufficiency

Amity Barnard, Authority General Counsel

Exhibit “A”
Maximum Program Fees (Commercial)

Fees at Transaction Close	
Services	Provider	Fee	
		Base Program Fees: 1.30% - Below $500,000
1.20% - $500,000 to $999.999.99
1.00% - $1,000,000 or greater	

Program Administration		Asset Servicing (based maturity of asset): 0.3% for 5-year maturity
0.5% for 10-year maturity 0.7% for 15-year maturity 0.8% for 20-year maturity 0.8% for 25-year maturity 1.0% for 30-year maturity	
Asset Servicing Recordation		Recordation Fees:
Between $120-$150 per parcel	
		Petros PACE Administrator may charge additional fees for transaction related support & services, including but not limited to:
Document customization
Underwriting support
Lender consent
Title reports
Secretary of State Certificates	
	
Administrator		
		Fees will be confirmed prior to providing such services.	
		Maximum Interest Rate: The interest rate charged to a commercial property owner should be no more than 400 bps above the 10-year Treasury with the likelihood of being less since the terms of the financing are the product of negotiations with the property owner and its/their representatives, and subject to the consent of all applicable lenders as stated under the Florida PACE Act. The rate could also be more, again subject to the above stipulations.	

-2-

Bond Counsel and Legal Opinion	
Lewis, Longman & Walker	Standard Project Fees:
3.50% on first $100,000 of project amount financed, plus
0.55% on project amount $100,000.01 to
$1,000,000, plus	

		0.25% on amount $1,000,000.01 to
$3,000,000, plus
0.20% on project amount above $3,000,000	
		Customization fees may apply for services beyond the Standard Project Fees such as involving counsel in property owner negotiations, revisions to Program Documents, or drafting/reviewing documents outside the standard closing transcript.	

Authority Counsel Legal Opinion	
Davis & Associates, P.A.	Standard Project Fee:
$7,500.00 per opinion	
		Customization fees may apply for services beyond the Standard Project Fees such as involving counsel in property owner negotiations, revisions to Program Documents, or drafting/reviewing documents outside the standard closing transcript.	

Authority Administration	
Authority	0.375% - Below $500,000
0.25% - $500,000 to $999,999.99
0.19% - $1,000,000 or greater	

Trustee	Wilmington Trust	$2,000 Acceptance Fee
$1,500 Outside Counsel Fee
$4,000 (Advance of first two years of Trustee Annual Administration Fee of
$2,000)
The foregoing fees assume a single bond with a single indenture	
Annual Fees	
Services	Provider	Fee	

Trustee	Wilmington Trust	$2,500 (assumes a single bond with a single indenture)	
Tax Roll Administration	
Authority	
$15 per parcel	

-3-

		Varies by County	
County	Local County	Most counties are expected to charge 1% of the	
Collection Fee	Government	amount to be collected; counties may charge up to	
		4%, per statute.	

-4-