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Expanding Pleasanton's PACE availability by including more providers will likely create a competitive marketplace that provides more financing options with more favorable terms to home and business owners. Doing so would also incentivize more property owners to undertake improvements, resulting in the creation of more renewable energy and local jobs, and reduction in energy use, greenhouse gas emissions, and water consumption. PACE programs can quantify reductions in community energy and water usage and greenhouse gas emissions, which serves to implement the City's Climate Action Plan (CAP). The CAP has also identified establishing and promoting financing and financial incentive programs to support energy efficiency and conservation as a goal. CSCDA Open PACE CSCDA Open Pace is an umbrella for AllianceNRG, PACE Funding, Clean Fund Commercial PACE Capital, and Spruce Finance. It launched in 2015 and operates under AB 811. It is sponsored by the California Statewide Communities Development Authority (CSCDA), a JPA of which Pleasanton is already a member. CSCDA Open PACE's goal is to create a platform to vet and pre-qualify PACE administrators so that local governments only need to pass a single resolution to authorize multiple administrators. Any additional PACE program administrators that are qualified under Open PACE after the adoption of the CSCDA Open PACE resolution by the City will be automatically authorized to operate within Pleasanton. Local cities that have joined CSCDA Open PACE Program include Fremont, Hayward, Walnut Creek, Danville, and Lafayette. A Council resolution will be needed to join CSCDA Open PACE. CSDA Open Pace member highlights include: • AllianceNRG: Established in 2015, serves residential and commercial projects through a collaboration with Leidos Engineering and CounterPointe Energy Solutions. • PACE Funding: Joined CSCDA Open PACE in September 2015. PACE Funding is the first private PACE program manager to partner with a US consumer lending bank. The program currently serves the residential market and is anticipating expanding to the commercial sector. • Clean Fund Commercial PACE Capital: Joined CSCDA Open PACE in 2016 and provides long-term financing to commercial properties. • Spruce Finance: Spruce has more than 20 years of experience in solar and energy efficiency lending and focuses on the residential sector. However, since Spruce Finance is a residential PACE provider, staff recommends allowing it to operate within Pleasanton only after it has signed a Regional Collaborative Services Agreement (RCSA) with ABAG as described below. Page 5 of 7