MEETING DATE:
November 10, 2014
SUBJECT:
Title
RESOLUTION NO. 2014-7998 - AUTHORIZING CALIFORNIAFIRST, A PROPERTY ASSESSED CLEAN ENERGY PROGRAM, TO OFFER ITS PROGRAM AND LEVY VOLUNTARY ASSESSMENTS THROUGH THE CALIFORNIA STATEWIDE COMMUNITY DEVELOPMENT AUTHORITY
Body
Recommendation
Recommendation
ADOPT a resolution adding CaliforniaFIRST to the roster of approved Property Assessed Clean Energy (PACE) programs offered in the City, and authorize the California Statewide Community Development Authority to accept voluntary applications from San Marcos property owners and levy assessments.
Body
Board or Commission Action
Not applicable
Relevant Council Strategic Theme
Quality of Life
Economic Development
Relevant Department Goal
Not applicable
Introduction
PACE programs allow local governments, via assessment and community financing districts, to offer energy and water sustainability loans to eligible property owners on a voluntary basis. These loans are placed as an assessment on the owner's property tax bill and paid back incrementally with the payment of their property taxes.
In April 2013, the City Council voted to join the California Enterprise Development Authority, a Joint Powers Authority created by the California Association for Local Economic Development, to make available certain PACE programs for City residents. The Council also authorized FIGTREE and HERO as approved PACE programs.
The CaliforniaFIRST program is an authorized PACE provider through the California Statewide Communities Development Authority (CSCDA), of which the City is already a member. The program currently operates in 17 counties and 167 cities in California. It has asked to provide another PACE program in San Marcos.
Discussion
During late 2012 and early 2013, the City reviewed various PACE programs in order to decide whether it wanted to make the financing available to property owners in San Marcos. In April 2013, the City Coun...
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