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File #: 19-0398    Version: 1
Type: Agenda Item Status: Approved
File created: 3/6/2019 In control: Board of Supervisors
On agenda: 3/19/2019 Final action: 3/19/2019
Title: Chief Administrative Office recommending the Board: 1) Receive a presentation from two Property Assessed Clean Energy (PACE) programs: a) California Enterprise Development Authority (Dividend Finance - Figtree); and b) California Municipal Finance Authority (Energy Efficient Equity - E3); and 2) Provide staff direction on proceeding with preparing resolutions for Board consideration to allow the operation of these programs in El Dorado County. (Est. Time: 20 Min.) FUNDING: N/A
Attachments: 1. A - PACE Presentation
Related files: 15-1089, 18-0171, 19-1745
Title
Chief Administrative Office recommending the Board:
1) Receive a presentation from two Property Assessed Clean Energy (PACE) programs:
a) California Enterprise Development Authority (Dividend Finance - Figtree); and
b) California Municipal Finance Authority (Energy Efficient Equity - E3); and
2) Provide staff direction on proceeding with preparing resolutions for Board consideration to allow the operation of these programs in El Dorado County. (Est. Time: 20 Min.)

FUNDING: N/A
Body
DISCUSSION / BACKGROUND
Property Assessed Clean Energy financing programs, or PACE, provide 100% upfront financing 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 repayment is made through a property assessment which is collected along with an owner’s property taxes with repayment terms ranging from 5 to 30 years. Under these financing programs, property owners repay the contractual assessment or special tax through their property tax bill that functions as a senior lien on the property.

State law (AB 811 and SB 555) enables counties to establish PACE programs. The Improvement Act of 1911 (Division 7 of the California Highways Code), as amended by AB 811, allows for property owners to enter into voluntary contractual agreements with special districts to finance permanent energy efficiency improvements offered through statewide Joint Powers Authorities. The Mello-Roos Community Facilities Act, as amended by SB 555, allows for PACE programs via the establishment of Community Facilities Districts (CFDs).

The County currently participates in several PACE programs, including the Golden State Finance Authority (GSFA) Joint Powers Authority/Ygrene County Clean Energy CFD (Mello-Roos) ...

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