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6.3.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> April 25, 2016 <br /> SUBJECT <br /> Resolutions Authorizing Participation in the California Home Finance Authority (CHF) <br /> Property Assessed Clean Energy (PACE) and California Statewide Communities <br /> Development Authority (CSCDA) Open PACE Programs <br /> RECOMMENDATION <br /> 1. Adopt a resolution of the City Council of the City of Redwood City consenting to the <br /> inclusion of properties within the City's jurisdiction in the California Home Finance <br /> Authority Community Facilities District No. 2014-1 (Clean Energy) to finance renewable <br /> energy generation, energy efficiency and water conservation improvements, and electric <br /> vehicle charging infrastructure and approving associate membership in the Joint <br /> Exercise of Powers Authority related thereto <br /> 2. Adopt a resolution of the City Council of the City of Redwood City consenting to <br /> inclusion of properties within the City's jurisdiction in the California Home Finance <br /> Authority, program to finance renewable energy generation, energy and water efficiency <br /> improvements and electric vehicle charging infrastructure and approve associate <br /> membership in the Joint Exercise of Powers Authority related thereto <br /> 3. Adopt a resolution of the City Council of the City of Redwood City consenting to the <br /> inclusion of properties within the territory of the City in the California Statewide <br /> Communities Development Agreement (CSCDA) Open PACE Programs; authorizing <br /> the CSCDA to accept applications from property owners, conduct contractual <br /> assessment proceedings and levy contractual assessments within the territory of the <br /> City of Redwood City; and authorize related actions <br /> BACKGROUND <br /> Property Assessed Clean Energy (PACE) is a financing program for property owners to <br /> fund energy efficiency, water efficiency, and renewable energy projects on existing <br /> residential and commercial structures. It works by enabling property owners to pay for <br /> the cost of the financing by voluntarily placing an assessment on their property tax bill. <br /> This allows them to finance these kinds of improvements over time without a large, <br /> upfront investment. Because the loan stays with the property in the event of sale, <br /> property owners may find it more feasible to invest in improvements with a longer-term <br /> payback period. <br /> Local governments like Redwood City are permitted to participate in PACE programs <br /> under state law (AB 811 and SB 555). Currently, three PACE programs have been <br /> authorized by City Council action to operate in Redwood City: Western Riverside <br /> Council of Governments (WRCOG) - California HERO Program; California Economic <br />