Title
Resolution to Support Community Energy Efficiency Investments and Property Assessed Clean Energy (PACE) Program
Memorandum
This resolution recognizes the role of the city in supporting community energy efficiency including the City of Ann Arbor's Property Assessed Clean Energy (PACE) program.
The City has consistently provided support for advancing energy efficiency and the use of renewable sources of energy in government operations, businesses and residences.
This PACE program continues City support and encouragement for the community to become more energy efficient by offering special assessments on commercial and industrial properties for certain energy projects.
Previously, the City has acted to support state enabling PACE legislation (Resolution R-10-321), authorized grant funds to be used for program development (Resolution R-09-501), and established a loan loss reserve fund to leverage private funding for PACE projects at a lower interest rate (R-11-085). The projects may be financed over a longer term, up to 10 years, than typical bank financing.
The resolution of intent approved by City Council on September 19, 2011 found that financing of energy projects is a valid public purpose because it furthers essential public and governmental purposes, including, but not limited to, reduced energy costs, reduced greenhouse gas emissions, economic stimulation and development, improved property valuation, and increased employment.
This resolution authorizes use of the City Energy Fund established in 1998 to support community energy efficiency projects in addition to the historic use for municipal energy efficiency projects, energy audits and demonstration projects.
Staff
Prepared by: Matt Naud, Environmental Coordinator
Sponsored by: Mayor Hieftje
Body
Whereas, The City is committed to preserving and improving the City's natural and built environment, protecting the health of its residents and visitors, and fostering its economy;
Whereas, Loc...
Click here for full text