Laserfiche WebLink
12 <br /> THE CITY OF <br /> - # CITY COUNCIL AGENDA REPORT <br /> PL•EASANTON. <br /> January 16, 2018 <br /> Operations Services <br /> TITLE: ADOPT RESOLUTIONS TO EXPAND THE CITY'S EXISTING PROPERTY <br /> ASSESSED CLEAN ENERGY (PACE) FINANCING PROGRAM TO ADMIT <br /> NEW PACE PROVIDERS AND APPROVE REGIONAL COLLABORATIVE <br /> SERVICES AGREEMENTS <br /> SUMMARY <br /> Property Assessed Clean Energy (PACE) is a mechanism for local residential and <br /> business property owners to finance renewable energy, energy efficiency, and water <br /> conservation improvements to their properties. Property owners borrow funds from a <br /> PACE provider sponsored by a joint powers authority (JPA) and repay the loan via a <br /> special voluntary property tax assessment. <br /> To help cities evaluate the various providers and promote overall PACE program <br /> success, the Association of Bay Area Governments (ABAG) worked with the residential <br /> PACE providers to develop and agree to best practices to strengthen consumer <br /> protection and ensure the programs adhere to sound operating and reporting standards. <br /> Two bills (Assembly Bill 1284 and Senate Bill 242) were signed into law in September <br /> 2017 to further enhance consumer protection measures and best practices in PACE <br /> financing. <br /> Currently, there is only one PACE program, CaliforniaFIRST, authorized to operate in <br /> the City of Pleasanton. In order to promote competition and provide Pleasanton property <br /> owners with more options, the City's Committee on Energy and the Environment is <br /> recommending that Council take a series of actions outlined in this report to allow <br /> several new commercial and residential PACE programs to operate in Pleasanton. <br /> RECOMMENDATION <br /> 1. Adopt resolutions approving the following PACE programs and the associated <br /> Joint Powers Agreements: <br /> • California Statewide Communities Development Agency (CSCDA) Open <br /> PACE (already a JPA member) <br /> • California Municipal Finance Authority (CMFA) Open PACE <br /> • Ygrene PACE Program <br /> • Figtree PACE Program <br /> • California HERO Program <br />