Title
Joint resolution to declare intent to create a "Property Assessed Clean Energy" (PACE) Program for Lake County.
Staff Summary
* The Energy and Environment (E&E) Committee directed staff to research the creation of a PACE Program as part of their work plan for Fiscal Year 2020.
* Staff conducted research on the PACE Program, discussed implementation with other counties who have established the program, and have held meetings with leadership of County departments involved in a potential implementation within Lake County including Finance, Clerk, Assessor, and Treasurer.
* At the Committee's August meeting, the Sustainability Team provided an overview and received direction from the Committee to draft a resolution to declare the County's intent to establish a PACE program, and to begin the process to request proposals for a program administrator.
Body
RESOLUTION
WHEREAS, "Property Assessed Clean Energy" is a financing tool that helps accelerate private investments in commercial properties, and local adopted programs have already brought billions of private investment dollars to communities across the U.S. since the first "Property Assessed Clean Energy" program launched in 2008; and
WHEREAS, "Property Assessed Clean Energy" enabling legislation is active in 33 states plus Washington, D.C., and locally adopted programs are currently active (launched and operating) in 20 states plus D.C., allowing owners of existing buildings to finance up to 100 percent of the cost of efficiency-enhancing projects, including renewable energy projects; and
WHEREAS, the "Property Assessed Clean Energy" Act 50 ILCS 50/1 et seq. states that local units of government, including counties, may establish a "Property Assessed Clean Energy" program; and
WHEREAS, the Lake County Board has previously adopted its Strategic Plan which includes a goal to promote a sustainable environment by, in part, adopting ordinances that promote sustainable environmental practices, such as ...
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