Florida Bankers Association v. Florida Development Finance Corporation

Summary

The court dismissed the Florida Bankers Association's appeal because it lacked standing, affirmed validation of the PACE bonds, and rejected Reynolds's due-process and ripeness challenges. It held that FDFC could not levy the assessments and that PACE assessments could not be collected through judicial foreclosure, but treated those defects as curable through amendment of the bond documents. The case was remanded for those amendments and for approval by FDFC's governing board. Lewis, J., concurring in result only, expressed concern that the program improperly expands special assessments and may impair mortgage holders' property rights.