Title
Supervisor Santiago requesting the Board make a final decision regarding the Property Assessed Clean Energy (PACE) program in conjunction with Ygrene Energy Fund. (Cont'd 6/11/13, Item 32)
Body
This program, designed to benefit homeowners' access to environmental improvements, approved and endorsed by the state and adopted by other counties, has come to the El Dorado County Board of Supervisors on several occasions has been endorsed by Chambers of Commerce, has received no conclusive input from the County's Bond Committee, and is prepared to launch upon final Board approval. It would be appropriate, at this time, for the Board of Supervisors to vote to allow this program to move forward on behalf of county constituents who would benefit from the financial alternative designed for home upgrades.
Fiscal Impact/Change to Net County Cost
No fiscal impact or change to net county cost associated with this item.
Background
In October of 2011 Senate Bill 555 was signed into law. SB 555 amended the Mello-Roos Community Facilities Act of 1982 (Government Code sections 53311 and following) to enable public agencies in California to establish voluntary special-tax programs to reduce the upfront costs associated with energy-efficiency, renewable-energy, and water-conservation projects that are affixed to real property and proposed by property owners. Under SB 555, a local agency may create a Community Facilities District that initially contains no parcels of land, but consists only of territory from which parcels may subsequently be annexed to the Community Facilities District with the unanimous approval of parcel owners. Key steps in the formation of the Community Facilities District include:
· Approval of the Boundary Map
· Adoption of a Resolution of Intent to Form the District
· A public hearing
· Adoption of the Resolution of Formation of the District
· Adoption of a Bond Authorization Resolution
· Filing and prosecution of a bond validation suit
Under the...
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