Rep. Randy Fine Files Bill to Provide New Financing Options for Indian River Lagoon Conservation
By Space Coast Daily // January 22, 2021
would allow property owners to obtain a “Property Assessed Clean Energy” financing
BREVARD COUNTY, FLORIDA – Representative Randy Fine (R-Palm Bay) filed HB 387, which would create a new financing option for property owners seeking to make environmental improvements to their properties that will protect the Indian River Lagoon.
HB 387 will allow property owners to obtain a “Property Assessed Clean Energy” financing (PACE) for environmental mitigation projects like septic-to-sewer conversions and the installation of advanced onsite wastewater treatment systems (new generation of septic tanks that remove substantially more pollutants than traditional tanks.)
“Everyone in Brevard County wants a clean Indian River Lagoon, but for years, my constituents have told me they don’t simply have thousands of dollars laying around to connect their home to a sewer line or upgrade their septic tank,” said Representative Fine.
“HB 387 will allow those consumers to obtain special, secured loans, often at discounted interest rates, to help them finance these critical projects, which will benefit every one of us.
“During my four years in the legislature, I have brought home millions in state funding for lagoon improvements, freed up tens of millions of dollars in available local financing, and dramatically increased the penalties on local politicians who dump millions of gallons of raw sewage into our waterways. This bill represents the next step in that journey to save our precious lagoon by making it easier and cheaper for property owners who want to do the right thing.”
HB 387 also introduces a bevy of new consumer protections for both existing and new PACE financing, ensuring the integrity of the program and the security of consumers that take advantage of it.
A Senate companion bill is expected to be filed in the next several days.
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