The long-term loans have high interest rates and are attached to a property’s tax bill, meaning that if the bill goes unpaid, a super lien – which gives the loan priority over other loans such as a mortgage – can be placed on the property. In Duval County, the loan program is being used primarily by homeowners, with the biggest concentration based in parts of the Northside and Northwest Jacksonville.
 
“I want to thank Council President Salem and the entire City Council for swiftly and unanimously passing this important legislation that will save citizens from financial ruin,” said Mayor Donna Deegan. “I urge everyone in Jacksonville to tell their neighbors about these predatory loans so that another family isn’t hurt by this damaging practice.”
 
“Florida PACE operates a business preying on our residents,” said City Council President Ron Salem. “Their financing options will end with homeowners paying grossly inflated property tax bills which could end in a tax deed sale should the property owner not be able to pay their property taxes. We cannot put our constituents in these types of situations and must protect them from these predatory practices.”

“JALA has been at the forefront of both litigating predatory PACE loans and educating others on the destructive path left by PACE on a community," said James Kowalski, President & CEO, Jacksonville Area Legal Aid. “We are thrilled to see the City, under the leadership of Mayor Deegan and City Council President Salem, pave the way in helping protect our friends and neighbors from these loans, which have destabilized so many other cities across the country.”