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File Number: 16-252 <br />·Spruce Finance was added to CSCDA’s Open PACE network in April 2016 and is a <br />technology-enabled finance company serving the residential solar, energy and water <br />efficiency markets in the United States. Spruce was created via the combination of <br />Clean Power Finance ("CPF"), a solar financing market place, and Kilowatt Financial <br />("Kilowatt"), an investor in solar and energy efficiency financing for consumers. <br />Spruce’s mission is to provide financing that empowers consumers to improve their <br />environment. <br />In California, 98 cities and counties have approved the Open PACE suite of programs, <br />including Alameda County, Albany, Berkeley, El Cerrito, Hayward, Oakland, Piedmont, and <br />Union City. <br />ABAG Regional Collaborative Services Agreement <br />The PACE provider’s primary relationship is with the JPA partner (who issues bonds or related <br />financial instruments to PACE providers, and provides oversight of the financing and <br />administrative activities). As such, cities have limited control over local PACE activities. In <br />order to safeguard consumer interests and promote program success, ABAG and the Bay <br />Area Regional Energy Network developed the “Regional Collaborative Services Agreement” <br />(RCSA), which establishes the terms, conditions and roles each residential PACE provider will <br />follow when operating in ABAG territory (the RCSA does not apply to commercial PACE <br />programs). While the Agreement is between ABAG and PACE providers, the language of the <br />agreement states that it also applies to actions of the PACE provider in participating cities and <br />towns that choose to authorize PACE programs. <br />Features of the ABAG agreement include: <br />·Designates ABAG as the liaison to the residential PACE providers locally; <br />·Requires all residential PACE providers to have clearly visible disclosures regarding the <br />FHFA’s policies on residential PACE programs <br />·Requires all residential PACE providers to participate in the state’s PACE Loss <br />Reserve program; <br />·Limits claims that residential PACE providers (or their designated contractors) can <br />make to applicants regarding the tax deductibility of PACE assessments; <br />·Requires data sharing between the residential PACE providers and participating cities <br />to monitor program performance locally and report out to local stakeholders; and <br />·Requires residential PACE providers to accept responsibility for negligence in <br />administering PACE programs. <br />At this time, the following residential PACE providers have signed on to the RCSA with ABAG: <br />·Western Riverside Council of Governments (California HERO Program); <br />·Figtree Financing (Figtree PACE Program); <br />·Ygrene Energy Fund California LLC (Ygrene PACE Program); <br />·CounterPointe Energy Solutions (CA) LLC (AllianceNRG Program); and <br />·PACE Funding Group LLC. <br />Staff has attached a blank “Acknowledgement Addendum to the Association of Bay Area <br />Page 6 City of San Leandro Printed on 6/1/2016