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<br />6.3E <br />proposal. The fourteen pilot counties have joined together in a regional proposal that willPage 2 <br />fund initial setup costs, legal validation, a regional website, interest rate buy down, and <br />administrative and marketing duties at the local level. <br /> <br />The one-time setup fee for Redwood City to join CaliforniaFIRST is $15,000. By passing <br />a Resolution to authorize Sacramento County as lead applicant and collaborative entity, <br />Redwood City will enable Sacramento County to distribute funds to San Mateo County <br />to cover Redwood City's full $15,000 startup costs. SEP Grant funds will also include an <br />allocation to San Mateo County of between $350,000- $380,000 for administrative <br />activities, marketing outreach, and homeowner incentives to the benefit of all County <br />residents <br /> <br />AL TERNA TIVES <br />The Council could chose not to authorize the City's participation in the CaliforniaFIRST, <br />clean energy financing program. <br /> <br />FISCAL IMPACT <br />There is no fiscal impact associated with enabling Sacramento County as the lead <br />collaborative entity on San Mateo County and Redwood City's behalf. The grant will pay <br />for Redwood City's initial startup costs of $15,000. The City will also benefit from <br />regional resources such as a regional website and interest rate buy-down for <br />participating homeowners. <br /> <br />~~ <br /> <br />Beth Ross <br /> <br />EnVironmenta~/ <br /> <br />Peter Ingram <br />City Manager <br /> <br /> <br />r <br />f!7 <br /> <br />ATTACHMENTS <br />1. Resolution Authorizing the City of Redwood City to Join the CaliforniaFIRST program <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />1. None <br />