Are there different ways the conversion of a full neighborhood or city might be financed?
Yes. For cities, FPL recently established, with PSC approval, a mechanism to recover the costs associated with converting from overhead to underground by adding a fee to customer bills. Additionally, Chapters 197 and 170 of the Florida Statutes allow municipalities to fund underground conversion costs by levying special assessments imposed on tax bills. Landowners benefiting from the conversion must be identified and the special assessment may be collected directly from the local government imposing the assessment or through annual property tax bills. Another Florida Statute —125.01(q) — lets counties establish municipal service benefit units and municipal service taxing units in certain areas. These governmental units may levy service charges, special assessments or taxes within these units to fund underground conversion costs.
