Florida Expands C-PACE: Eliminates Lookback Period, Broadens Qualifying Improvements for Hotel Resilience Financing
💸 Florida, 2024: Senate Bill 770 expanded C-PACE, enhancing hotel financing flexibility. It now includes flood and water damage mitigation, wastewater conversions, storm-hardening, and wind-resistance. Past C-PACE retroactivity limit of 3.5 years is removed. Hotels can refinance past upgrades as far as 15 years back. C-PACE allows 100% financing for improvements, with fixed-rate terms up to 30 years, potentially priced around 7%. This gives hotel owners a strategic liquidity advantage.
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