1. The Subject Property (“Assessed Property”) must be located in St. Lucie County, including the Cities of Port St. Lucie and Fort Pierce, St. Lucie Village, and the unincorporated County.
2. Ownership must be private or non-profit entities. Public entities are not eligible.
3. The Just Value (i.e., “market value”) of the Assessed Property, as determined by the St. Lucie County Property Appraiser, must exceed the sum of any privately-held mortgages and encumbrances. There must be equity in the property.
4. All property taxes and assessments levied on the Assessed Property must be paid and have no delinquencies for the preceding three (3) years. Only the period of ownership shall apply for current owners.
5. There are no involuntary liens on the Assessed Property, i.e., Federal or State income tax liens, judgment liens, construction liens, or debt on the similar involuntary liens.
6. There are no notices of default or evidence of property-based debt delinquency recorded during the preceding three (3) years. Only the period of ownership shall apply for current owner(s).
7. Property-owner(s) is current on all mortgage debt on the Assessed Property and there have been no notices of default or foreclosure filed due to non-payment of property taxes or mortgage loan payments within the preceding three (3) years. Only the period of ownership shall apply for current owner(s).
8. Property-owner(s) is not in bankruptcy and the Assessed Property has not been an asset in a bankruptcy for the past three (3) years.
9. The PACE program does not apply to new construction. A certificate of occupancy or similar evidence of substantial completion of new construction is required.
10. In the case of energy-related projects, SELF may require an energy evaluation, depending on the size and scope of the project, to demonstrate reasonable benefits.
11. The cost of all Qualified Improvements cannot exceed 20% of the Just Value of the Assessed Property, as determined by the St. Lucie County Property Appraiser.
12. Requested financing amount cannot exceed the Net Equity in the property (i.e., Just Value – Mortgage(s)).
13. The Assessed Property is not the subject of any pending eminent domain action, environmental litigation or other cause of action potentially affecting the value of the Assessed Property.
14. There are no judgments against the Property Owner which could result in a lien against the Assessed Property.
If you need further information on eligibility requirements, please contact SELF at:
Telephone #: (772) 468-1818
Please note that incomplete applications will not be considered until all of the requested information has been provided to SELF.