MIAMI, May 15, 2015 /PRNewswire-USNewswire/ -- FAIR, a non-partisan, non-profit educational organization works to educate consumers and insurance industry stake-holders about the effects of insurance public policy. In this role, FAIR members are actively promoting the PACE program throughout Florida. www.floridainsurancereform.org
Older homes with aging roofs or inadequate coverage leave many Florida home owners exposed. When these events happen, people become trapped without affordable options for replacement or repair. Such was the case with Marie Roseme.
"A terrible storm went through the City and I came home to find water all over my floors and the roof leaking. When my insurance company denied my claim to have the roof repaired I turned to the City for grant money; but I was too far down on the list and there were no more funds available," said Tamarac resident Marie Roseme.
"The City of Tamarac and my Homeowners Association were upset that the roof was not repaired because I live on a golf course and the blue tarps were in plain view," said Roseme. "I tried to work with several contractors, but all the available financing was based on credit score and required a lot of equity in my home," she added.
"The City of Tamarac was going to fine me but, fortunately, the City made me aware of the Florida PACE Funding Agency program. The Agency was able to provide me with the financing I needed to replace my roof." Life has returned to normal and Marie Roseme is elated to have the roof leaks behind her. "I am extremely happy that PACE financing was available because I had no other options available. I am so thankful to the Florida PACE Funding Agency and the City of Tamarac staff for all their help," she concluded.
The Florida PACE Funding Agency is a local government formed as a public service to Florida cities and counties. Through its innovative financing program, E|VEST Florida, the Agency is funding eligible projects for residential and commercial property owners in participating Florida cities and counties.
In addition to helping property owners, the E|VEST Florida program helps contractors like Marie's, J&M Contractors of South Florida, grow their businesses. Property owners are attracted to the opportunity for 100%, fixed rate financing with no out-of-pocket costs for smart energy and storm safety improvements. For more information go to the Agency's website, www.EvestFlorida.com,
Cities and counties can make the program available in their jurisdictions by passing a resolution and signing an interlocal agreement with the Agency. There is no cost or liability for local governments plus, the Agency has $200 million of available financing, so cities and counties do not have to issue bonds. Government officials interested in making this program available to their property owners should visit www.FloridaPACE.gov .
SOURCE Florida Association for Insurance Reform (FAIR)