City Council
MEETING DATE: 6/29/2016
TITLE:
Title
Resolution Consenting to the Inclusion of Properties within the City's Jurisdiction in the CaliforniaFIRST Program
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FROM:
Tracey R. Martinez, CMC
Deputy City Clerk
RECOMMENDATION:
Recommendation
Staff recommends the City Council adopt a Resolution Consenting to the Inclusion of Properties within the City's Jurisdiction in the CaliforniaFIRST Program to Finance Distributed Generation Renewable Energy Sources, Energy and Water Efficiency Improvements and Electric Vehicle Charging Infrastructure.
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BACKGROUND:
Assembly Bill (AB) 811 was signed into law on July 21, 2008, and AB 474, effective January 1, 2010, amended Chapter 29 of Part 3 of Division 7 of the Streets & Highways Code of the State of California ("Chapter 29") and authorizes a legislative body to designate an area within which authorized public officials and free and willing property owners may enter into voluntary contractual assessments to finance the installation of distributed generation renewable energy sources, energy efficiency, and/or water conservation improvements that are permanently fixed to real property, as specified. The financing for these improvements has come to be known as PACE, which stands for Property Assessed Clean Energy.
On January 25, the CVAG Executive Committee approved implementation of new PACE programs regionally, with CVAG oversight and similar policies and procedures that have been incorporated into the HERO and Ygrene programs. CVAG staff has developed a consistent process for vetting potential PACE programs, described below. CaliforniaFIRST has approached CVAG about implementing their program on a regional scale.
CaliforniaFIRST is a public/private financing PACE program administered by Renew Financial, an Oakland-based clean energy finance company that specializes in affordable financing for renewable energy and energy efficiency projects in almost 300 cities and counties. CaliforniaFIRST ...
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