Miami in the Green Pathway

The Miami Herald

As the nation’s largest Hispanic construction association in the United States, the LBA is very much aware of the  effects that the economy has had on the construction and real estate industry throughout our country and our  community. Since 1971, our association has worked tirelessly at promoting and supporting ideas, initiatives and  individuals with the vision of transforming Miami into a world class city and helping our community lead the way in  sustainable economic growth; and it is our position that the Property Assessed Clean Energy (PACE) program is  a groundbreaking and viable initiative that not only advances our community by promoting clean technologies and  improving property values, but does so by creating construction and building jobs, at a time when they are most  needed. 

In the coming days, the City of Miami Commission has an opportunity to once again lead our community by voting  to become the largest member city of the Green Corridor, a group of South Florida cities that includes South  Miami, Pinecrest, Cutler Bay and Palmetto Bay, and make the PACE program available to its property owners,  while also creating thousands of jobs. The PACE program will allow property owners to finance energy  improvements and wind hardening projects repayable on their property tax bills and employ local building and  trade contractors to make those improvements. This program will require no public money since it draws on  private investment and will train and certify small local contractors, many of whom are LBA members.  

The appeal of the Green Corridor is that it allows property owners to take immediate advantage of energy  efficiency and wind hardening improvement upgrades though this city sponsored program with little-to-no out of  pocket costs. Instead, these upgrades are tied to the value of your property and can be averaged into your annual  tax bill over the long term. The money saved from the slashed utility bills coupled with the increase in property  value and higher lease rates as a result of energy-efficient buildings is what makes the PACE program such an  attractive option to traditional financing tools. The administrator of the program, Ygrene Energy Fund-Florida,  offers a comprehensive energy efficiency and wind hardening funding solution based on the aforementioned  model and provides certification and training – at no cost – for local contractors who will perform the work.  Ygrene’s management of the program will also alleviate the administrative burdens from the City, while bringing  into our community millions of dollars in private capital needed to make this program successful.  

By being part of the Green Corridor District, the City of Miami will be a positive source of job creation, our  buildings will be green and we can take pride in the knowledge that we are moving forward again. Please contact  your city commission representative today to ensure we seize this opportunity.

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