PACE can play an important role in blunting the devastation of hurricanes. In Florida, according to the Sun Sentinel, a $275 million investment in hurricane resiliency upgrades made through PACE has avoided losses so far of $500 million in property damage costs and $135 million in temporary relocation costs. According to a recent report from the University of Southern California Schwarzenegger Institute, just 12,000 hurricane-preparedness, PACE-building improvements in Florida — such as storm-proofing windows and doors — over 20 years could save a further $500 million in avoided disaster losses, plus $700 million in future insurance premiums. Read more.
Adam Rose and Dan Wei Study on PACE Financing for Hazard Mitigation Quoted - The Washington Times
Tuesday, October 8, 2019