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Local Option - Special Improvement Districts

Eligibility 
Commercial
Industrial
Local Government
Residential
Schools
Program Info
State 
Georgia
Program Type 
PACE Financing

'''''Note: The Federal Housing Financing Agency (FHFA) issued a [http://www.fhfa.gov/webfiles/15884/PACESTMT7610.pdf statement] in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided. '''''

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Georgia has authorized certain local governments to establish such programs, as described below. (Not all local governments in Georgia offer PACE financing; contact your local government to find out if it has established a PACE financing program.)

Georgia has authorized the expansion of "business improvement districts" to allow county, city, or town development authorities to provide financing for the installation of renewable energy systems, energy efficiency or conservation improvements, and water efficiency or conservation improvements to residential, commercial, industrial or other qualifying property.