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2. Authorize the City Manager to approve and sign the member acknowledgement form of ABAG's Regional Collaborative Services Agreement (RCSA), as executed between ABAG and the following residential PACE providers, as well as any future residential PACE programs: • PACE Funding Group LLC • CounterPointe Energy Solutions (CA) LLC (AllianceNRG Program) • Energy Efficient Equity • Ygrene Energy Fund California LLC (Ygrene PACE Program) • Figtree Financing (Figtree PACE Program) • Western Riverside Council of Governments (California HERO Program) FINANCIAL STATEMENT Adoption of the resolutions and actions contained herein will not result in any costs to the City. All costs of marketing, financing, and program administration are borne by the program administrators and with private capital. BACKGROUND State law authorizes contract assessment districts in charter and general law cities to provide financing for renewable energy, energy efficiency, and water conservation improvements to free and willing property owners. A property owner voluntarily enters into a contractual agreement with one of the JPA assessment districts in which they reside to access financing that is secured by a lien on their property and repaid as a special assessment on their property tax bill. This financing mechanism is referred to as Property Assessed Clean Energy (PACE). CaliforniaFIRST, a program established by the California Statewide Communities Development Agency (CSCDA), is currently the only authorized PACE program in Pleasanton. Through the end of September 2017, 202 projects worth approximately $4.2 million have been funded by CaliforniaFIRST in Pleasanton, which is estimated to have resulted in 24,400 therms of annual natural gas saved, 355,000 kWh of annual electricity saved, 166,000 kWh of annual renewable energy generated, and 150,000 gallons of annual water conserved. These projects were also directly and indirectly responsible for the creation of approximately 64 jobs. In order to promote competition and provide Pleasanton property owners with more options, the City's Committee on Energy and the Environment recommends that Council consider admitting additional PACE providers by adopting resolutions approving additional PACE programs and their associated Joint Powers Agreements to operate in Pleasanton. DISCUSSION PACE financing can be set up and administered under one of two different pieces of legislation, which enable PACE programs in California: Page 2 of 7