55E - RESO - YGRENE WORKS - Laserfiche WebLink

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• • CITY COUNCIL MEETING DATE: AUGUST 4, 2016 TITLE: RECOMMENDED ACTION CLERK OF COUNCIL USE ONLY: _-Wc• ❑ As Recommended ❑ As Amended ❑ Ordinance on 1if Reading ❑ Ordinance on god Reading ❑ Implementing Resolution ❑ Sot Public Hearing For CONTINUED TO FILE NUMBER 1. Adopt a resolution consenting to the inclusion of properties within the City's jurisdiction in the California Home Finance Authority Program to finance renewable energy generation, energy and water efficiency Improvements, and electric vehicle charging infrastructure; and 2. Adopt a resolution consenting to the inclusion of properties within the City's jurisdiction in the California Home Finance Authority Community Facilities District No. 2014 -1 (Clean Energy) to finance renewable energy improvements, energy efficiency and water conservation improvements, and electric vehicle charging infrastructure; and 3, Approve Associate Membership in the California Home Finance Joint Exercise of Powers of Authority and authorize the appropriate City officials to execute any necessary documents to effectuate such membership to assist property owners within the incorporated area of the City in financing the cost of Installing authorized improvements. This action will establish the City's association with the California Home Finance Authority (CHF) and Ygrene Energy Fund CA LLC (Ygrene) and make the Ygrene Works for California Property Assessed Clean Energy (PACE) financing available to property owners in Santa Ana, The Ygrene Works financing provides a mechanism by which all eligible property owners, both residential and nonresidential, can install renewable energy systems and energy- and water - efficient improvements and repay the financing through a voluntary annual amount added to their property tax bill. There are no hard costs and no dedicated staff resources required for the City to participate in this program. The California legislature has established two separate PACE laws. Assembly Bills 811 (signed into law on July 21, 2008) and 474 (effective January 1, 2010) amended Chapter 29 of Part 3 of Division 7 of the California Streets 6 Highways Code, Senate Bill 555 (signed into law on October 5, 2011) amended the Mello -Roos Community Facilities Act set forth in sections 53311 through 53388.3 of the California Government Code. Both AS 811 and BE 555 authorize a legislative body to designate an area within which public entities and property owners may enter into voluntary assessments and /or special tax levies to finance the installation of certain renewable energy sources, energy efficiency, and /or water efficiency 55E -1