HomeMy WebLinkAboutCity Council Resolution 10-043RESOLUTION NO. 10 - 043
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
IN SUPPORT OF CONGRESSIONAL ACTION
REGARDING PROPERTY ASSESSED
CLEAN ENERGY (PACE) PROGRAMS
WHEREAS, residential and commercial buildings consume nearly 40% of all electricity and are
responsible for 40% of U.S. annual carbon dioxide emissions; and
WHEREAS, investing in cost - effective energy efficiency and renewable energy improvements to
homes and businesses can save energy, cut utility bills, create thousands of local jobs, reduce reliance on fossil
fuels, and dramatically reduce greenhouse gas emissions; and
WHEREAS, the upfront cost of investing in energy efficiency and potentially long payback periods
prevent property owners from making otherwise cost - effective clean energy improvements; and
WHEREAS, Property Assessed Clean Energy (PACE) financing programs are an innovative local
government solution to help property owners finance energy efficiency and renewable energy improvements —
such as energy efficient boilers, upgraded insulation, new windows, solar installations, etc. — to their homes and
businesses; and
WHEREAS, twenty -two states have passed laws enabling local governments to develop PACE
programs; and
WHEREAS, the White House and the U.S. Department of Energy strongly support PACE, have
dedicated 150 million to develop local PACE programs and issued guidelines to ensure that PACE programs
meet safety soundness requirements and adequately protect both bond buyers and property owners; and
WHEREAS, despite PACE's great promise, the Federal Housing Finance Agency (FHFA) and the
Office of the Comptroller of the Currency (OCC) on July 6 issued statements that immediately forced existing
PACE programs to halt operations and froze the development of dozens of PACE programs nationwide.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of Saratoga urges the California
congressional delegation to support legislation that clearly guarantees local governments the right to assess
special taxes for clean energy programs and restore the promise of PACE.
The above and foregoing resolution was passed and adopted at a regular meeting of the Saratoga City Council
held on the 21 day of July 2010 by the following vote:
AYES: Councilmember Manny Cappello, Chuck Page, Howard Miller, Vice Mayor Jill Hunter,
Mayor Kathleen King
NOES: None
ABSENT: None
1
ATTEST:
Ann u Ivan, City Clerk
Date: 7 2
Kat ‘
leen M. King, Mayor