Title
Resolution to Support Federal, State and Local Legislation Enabling the Creation of Property Assessed Clean Energy (PACE) Financing Districts
Memorandum
The attached resolution declares the Ann Arbor Energy Commission's support of enabling and creating Property Assessed Clean Energy (PACE) Financing Districts and recommends that City Council also support PACE.
Staff
Prepared By: Andrew Brix, Energy Programs Manager
Body
Whereas, The City’s Energy Challenge sets forth renewable energy use goals of 30% in municipal operations by 2010 and 20% city-wide by 2015;
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 promoting economic development;
Whereas, Energy efficiency and renewable energy technologies provide residents and businesses with reliable, sustainable and clean energy, which helps the community benefit financially, while reducing greenhouse gas emissions and local reliance on imported energy;
Whereas, Existing state and federal incentives for renewable energy and energy efficiency improvements to private property do not fully finance the cost of such improvements;
Whereas, The US Department of Energy’s eligible measures for the City’s Energy Efficiency and Conservation Block Grant include establishing a Property Assessed Clean Energy (PACE) Financing District, a form of Sustainable Energy Financing;
Whereas, Other cities in the United States have successfully created Sustainable Energy Financing Districts which encourage their residents to install energy efficiency and renewable energy improvements;
Whereas, The US Department of Energy and the University of California Renewable and Appropriate Energy Laboratory has provided the City with extensive background materials on the benefits and process of establishing a PACE Financing District; and
Whereas, The Energy Commission recommends establishing a PACE Financing District in the City...
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