§ 34-140. Definitions.

Latest version.

(a)

Definitions. For purposes of this article, the following words and phrases shall have the following meanings:

Financing agreement shall mean the financing agreement or the summary memorandum of such agreement required to be recorded in the public records of Palm Beach County in accordance with F.S. § 163.08.

PACE assessment shall mean the non-ad valorem assessment placed on a property owner's tax bill as a result of financing obtained under a PACE program.

PACE program shall mean one or more authorities or programs authorized by the city commission to offer financing of qualifying improvements.

Program administrator shall mean the entity responsible for offering, managing and administrating the specific PACE program.

Qualifying improvement shall include those improvements as defined by F.S. § 163.08, including energy efficiency, renewable energy and wind resistance or as may be amended by law.

(Ord. No. 4669-16, § 1, 12-5-2016)

                    
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