HomeMy WebLinkAboutMINUTES - 08142012 - C.81RECOMMENDATION(S):
DIRECT the Department of Conservation and Development to present a report to the Internal Operations Committee
concerning the status of PACE financing in Contra Costa County, including options for expanding the availability of
PACE financing for property owners and increasing opportunities for lenders interested in providing capital to
finance energy efficiency improvements, as recommended by Supervisor Mitchoff.
FISCAL IMPACT:
None.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 08/14/2012 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
ABSENT:John Gioia, District I
Supervisor
Contact: Mara Gold, 925-521-7100
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: August 14, 2012
David Twa, County Administrator and Clerk of the Board of Supervisors
By: STACEY M. BOYD, Deputy
cc:
C. 81
To:Board of Supervisors
From:Karen Mitchoff, District IV Supervisor
Date:August 14, 2012
Contra
Costa
County
Subject:Property Assessed Clean Energy (PACE) Financing
BACKGROUND:
PACE financing is authorized in State law pursuant to Chapter 29 of Division 7 of the Streets and Highways Code,
which was amended in 2008 by Assembly Bill 811 and further amended in 2009 by Assembly Bill 474, to allow
financing of renewable energy, energy efficiency and water efficiency improvements on private property. PACE
financing involves a property owner voluntarily agreeing to enter into a contractual assessment with a PACE
financing provider. The PACE program provides capital for construction of energy efficiency improvements on the
property, and a levy is placed on the property whereby the contractual assessment is then repaid in installment
payment placed on the property tax bill and collected by the County through the property tax collection process. As
with other property assessments, the County is able to charge a fee to offset the costs of collection.
On June 22, 2010, the Board of Supervisors adopted Resolution No. 2010/331 authorizing the County to participate
in a PACE financing program known as the CaliforniaFIRST Program. Since that time, State and Federal regulations
related to PACE financing have evolved. In addition, several other PACE financing programs have expressed interest
in providing PACE financing services to property owners in Contra Costa County. Therefore, it is appropriate to
review the current status of PACE financing in Contra Costa County so as to adapt to these changing conditions.
CONSEQUENCE OF NEGATIVE ACTION:
Property owners and lenders will not be able to take advantage of opportunities that may exist for expanding the
availability of financing options for the construction of energy efficiency improvements on private property.
CHILDREN'S IMPACT STATEMENT:
Not applicable.