Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JANUARY 20, 2015 <br />TITLE: <br />RESOLUTION— CONSENTING TO <br />THE INCLUSION OF SANTA ANA <br />PROPERTIES IN THE FIGTREE <br />(PACE) PROGRAM <br />{STRATA PLAN NOS. 5, 2&3,5z-( <br />CITY MANAG <br />RECOMMENDED ACTION <br />Adopt a resolution which: <br />CLERK OF COUNCIL USE ONLY: <br />FTITJ 0_: nowl, <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 15' Reading <br />❑ Ordinance on 2 "d Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />1) Consents to the inclusion of properties within the City's jurisdiction in the Figtree Program to <br />finance renewable energy, and energy- and water - efficiency improvements; <br />2) Approves associate membership in the California Enterprise Development Authority; and <br />3) Approves an indemnification agreement with Figtree Company, Inc., related to the Figtree <br />Property Assessed Clean Energy and Job Creation Program. <br />DISCUSSION <br />This action will establish the City's association with Figtree <br />California Enterprise Development Authority. The program <br />mechanism by which residential and commercial property ow <br />systems, and energy- and water - efficient improvements tha <br />assessment on their property tax bill. There is no hard cost <br />required for the City to participate in this program. <br />Company, Inc. ( Figtree), and the <br />offered by Figtree provides a <br />iers can install renewable energy <br />t are financed through a special <br />and no dedicated staff resources <br />Assembly Bills 811 (signed into law on July 21, 2008) and 474 (effective January 1, 2010) <br />amended Chapter 29 of Part 3 of Division 7 of the California Streets & Highways Code. The bills <br />authorize a legislative body to designate an area within which public entities and property owners <br />may enter into voluntary contractual assessments to finance the installation of certain renewable <br />energy sources, energy efficiency, and /or water efficiency improvements that are permanently fixed <br />to real property. The financing for these improvements has come to be known as PACE — Property <br />Assessed Clean Energy. <br />The PACE financing program allows property owners in participating cities and counties to finance <br />approved energy- saving improvements on their property. If a property owner chooses to <br />participate, the installed improvements would be financed through the issuance of bonds. The <br />bonds are secured by a voluntary contractual assessment levied on such owner's property, with no <br />55C -1 <br />