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Resolution — Consenting to the Inclusion of Santa Ana Properties in the Figtree Program January 20, 2015 Page 2 obligation to the local government or other participating jurisdictions. Property owners who wish to participate in this voluntary program agree to repay the amount borrowed through the contractual assessment collected together with their property taxes. In most cases, when property is sold, the finance amount transitions to the new owner; however, applicants are advised to consult their mortgage company for confirmation. PACE financing is available for eligible improvements on both residential and nonresidential properties. In September 2013, City Council adopted a resolution allowing Santa Ana residential property owners to participate in the California Home Energy Renovation Opportunity Program (California HERO), one of several PACE financing providers. To facilitate implementation of the program within the Santa Ana jurisdiction, the Council action included approval of a Joint Powers Authority (JPA) membership in the Western Riverside Council of Governments. Since the implementation, Santa Ana residential property owners have completed over 106 projects at a cost of $2,165,585, with an additional $20,842,504 of financing in progress. As with the California HERO program, the Figtree Program requires JPA membership to operate the program on behalf of the City. Associate membership in the California Enterprise Development Authority is needed to make financing available to property owners in Santa Ana. By approving the Figtree program, the City will provide Santa Ana residential and commercial property owners with access to competitive financing options for renewable energy, and energy- and water- efficiency improvements citywide. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal #5 Community Health, Livability, Engagement & Sustainability, Objective #2 (expand opportunities for conservation and environmental sustainability). Approval of this item also supports the City's efforts to meet Goal #3 Economic Development, Objective #5 (leverage private investment that results in tax base expansion and job creation citywide), FISCAL IMPACT There is no fiscal impact associated with this recommended action. All Figtree Program administrative costs are covered through an initial administrative fee included in the property owner's voluntary contractual assessment, and an annual administrative fee which is also collected W perty o nye�/r/'s tax bill. 4/ avipo r Executive Director Public Works Agency FM(MM /CK Exhibits; 1. Resolution Associate Membership Agreement Indemnification Agreement 55C-2