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Supervisor Ranalli recommending the Board:
1) Direct the Chief Administrative Officer to work in coordination with the Treasurer/Tax-Collector, Assessor, District Attorney, the Health & Human Services Agency's Adult Protective Services and Senior Legal Division and other appropriate departments as determined by the CAO to provide the Board with a report relative to the Property Assessed Clean Energy (PACE) financing programs that were approved by the Board on September 15, 2015, and September 22, 2015;
2) Direct that this report include the number of program participants; benefits and any unanticipated risks/consequences of the programs; and
3) Return to the Board for discussion of the matter within 120 days.
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DISCUSSION / BACKGROUND
The office of Supervisor Ranalli has recently received inquiries regarding the existence of adequate safeguards in the PACE Programs with respect to senior citizens. While the PACE Program is not managed or administered by the County, if these programs are resulting in harm to any of our county residents the Board should be aware of those concerns, as well as any possible safeguards that could be considered to mitigate those issues.
On September 15, 2015, the Board approved Resolutions 156-2015, 157-2015, and 158-2015, to make Property Assessed Clean Energy financing programs, or PACE, available to property owners in the unincorporated area of the county. Approval authorized PACE providers working with the Golden State Finance Authority JPA (Ygrene) and the California Statewide Communities Development Authority JPA (CaliforniaFIRST/Open PACE) to provide financing options to residential, commercial, industrial and agricultural property owners who voluntarily enter into financing agreements for a wide range of eligible property improvements, such as energy efficiency projects, water conservation improvements, electric vehicle charging stations and renewable electricity generation installations (i.e., solar). Loan repaym...
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