REPORT TO SUSTAINABILITY COMMISSION
SUBJECT
Title
Adopt Resolutions Authorizing the Operation of Property Assessed Clean Energy (PACE) Financing Programs Within the City of Sunnyvale, Authorize the City Manager to Execute Agreements and Other Documents Necessary to Implement the Same, and Find that the Actions are Exempt from Environmental Review under CEQA Guidelines Section 15378(b)(4)
Report
REPORT IN BRIEF
Property Assessed Clean Energy (PACE) financing programs are an emerging lending mechanism that property owners can use to finance certain home improvement investments such as energy or water efficiency, renewable energy, or seismic retrofits. In California, PACE programs are enabled through two different laws, AB 811 and SB 555, with additional laws clarifying and expanding program parameters. Authorization by the City Council is necessary for the programs to conduct business in the City, per the requirements of AB 811 and SB 555. Encouraging installations of energy efficiency improvements through PACE financing is a component of the City's Climate Action Plan.
Several PACE providers have expressed an interest in offering their programs in Sunnyvale. In order to bring additional PACE programs to Sunnyvale, the City Council must adopt a resolution to sponsor the program and join the associated Joint Powers Authority.
Staff has evaluated the PACE program market, reviewed various program and JPA documents, and coordinated with neighboring communities, which are also reviewing opportunities to sponsor additional PACE programs. Additionally, staff has reviewed recent efforts by the Association of Bay Area Governments (ABAG) to facilitate a more level playing field among PACE programs and ensure key consumer protections are in place and that local governments have access to local program performance data. These critical terms and conditions form the basis of ABAG's Regional Collaborative Services Agreement.
PACE Program assessments are a new financial m...
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