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City of San Leandro <br />Meeting Date: June 6, 2016 <br />Staff Report <br />Agenda Section:File Number:16-252 CONSENT CALENDAR <br />Agenda Number:8.M. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:Staff Report for Property Assessed Clean Energy (PACE) Financing Programs <br />- Adoption of Resolutions Authorizing Membership in Five (5) PACE Programs <br />and Approval of Association of Bay Area Governments (ABAG) Regional <br />Collaborative Services Agreement (RCSA) with Residential PACE Providers <br />SUMMARY AND RECOMMENDATIONS <br />Property Assessed Clean Energy (PACE) is a mechanism for local home and business <br />owners to finance the upfront cost of energy efficiency, water conservation, and renewable <br />energy improvements to their properties. Property owners borrow funds for the improvements <br />and repay the loan via a special voluntary property tax assessment. <br />There is currently one PACE program, CaliforniaFIRST, operating in the City of San Leandro. <br />Several additional PACE lenders have approached the City in recent months requesting that <br />the City take the necessary actions to allow them to also offer PACE loans in San Leandro, <br />including joining in three Joint Powers Authority (JPAs). JPA-sponsored PACE programs offer <br />little risk to local jurisdictions because the JPA assumes the legal liability. Any bonds issued to <br />finance projects are issued by the JPA. <br />To help San Leandro and other cities evaluate the PACE requests, the Association of Bay <br />Area Governments (ABAG) worked with the PACE providers to develop and agree to follow a <br />set of best practices that will ensure that the programs meet certain basic quality and <br />reporting standards. On behalf of its member jurisdictions (including San Leandro), ABAG <br />developed a Regional Collaborative Services Agreement (RCSA) to ensure these best <br />practices. <br />In order to provide property owners with more options, staff recommends that the City Council <br />take a series of actions outlined in this report that will allow several new PACE programs (all <br />of which have signed on to the ABAG RSCA) to operate in San Leandro. Staff recommends <br />that the City Council: <br />Page 1 City of San Leandro Printed on 6/1/2016