Print Email Facebook Twitter Financing “climate-proof” housing? The premises and pitfalls of PACE finance in Florida Title Financing “climate-proof” housing? The premises and pitfalls of PACE finance in Florida Author Taylor, Zac (TU Delft Urban Development Management) Knuth, Sarah E. (Durham University) Date 2023 Abstract Amidst growing concerns about climate risks to the U.S. housing markets, strategies to physically retrofit homes are gaining attention—including within debates over how to resolve intersecting crises of housing re/insurability and affordability in highly exposed sites like Florida. We consider an important but under-studied example of this “climate-proofing” strategy unfolding today: Residential Property Assessed Clean Energy (PACE) finance. While PACE has historically financed decarbonization retrofits, it is increasingly being deployed to facilitate hurricane risk reduction in Florida. In this paper, we introduce PACE: its basic characteristics, evolving uses, and controversies. Exploring the Florida case, we examine two deeper but as yet under-examined financial tensions: PACE’s intersections with other forms of property-linked finance (and potential systemic breakdowns) and rising affordability breakpoints as homeowners encounter its new debt amidst other growing and intersecting climate/climate response costs. These issues call for more transformative imaginaries of urban retrofitting and its resourcing. Subject climate riskFinanceFloridahousingretrofitting To reference this document use: http://resolver.tudelft.nl/uuid:9b058c19-55dc-4ac7-9985-8220e3f0530d DOI https://doi.org/10.1080/07352166.2023.2247503 ISSN 0735-2166 Source Journal of Urban Affairs Part of collection Institutional Repository Document type journal article Rights © 2023 Zac Taylor, Sarah E. Knuth Files PDF Financing_climate_proof_h ... lorida.pdf 956.8 KB Close viewer /islandora/object/uuid:9b058c19-55dc-4ac7-9985-8220e3f0530d/datastream/OBJ/view