Lake County, IL
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File #: 19-1398    Version: 1 Name: Joint Resolution to Declare Intent to Create a “Property Assessed Clean Energy” (PACE) Program for Lake County
Type: resolution Status: Passed
File created: 8/19/2019 In control: Energy & Environment Committee
On agenda: Final action: 10/8/2019
Title: Joint resolution to declare intent to create a "Property Assessed Clean Energy" (PACE) Program for Lake County.

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 the reduction of the County’s carbon footprint, the encouragement of renewable energy technologies, and clean air regulations; and

 

WHEREAS, “Property Assessed Clean Energy” is an economic development initiative with environmental benefits that lower the cost of doing business, encourages new and existing business owners to invest locally, and creates jobs using the local workforce, and that projects also have a positive impact on air quality, creating healthier, more livable neighborhoods; and

 

WHEREAS, making financing available to businesses in all of Lake County (incorporated and unincorporated) will reduce energy consumption by improving energy efficiency, allow for installation of wind and solar equipment, and reduce operating costs; and

 

WHEREAS, Lake County may issue bonds under the “Property Assessed Clean Energy Act” to finance energy projects under a Property Assessed Clean Energy program; and

 

WHEREAS, bonds issued by Lake County shall not be general obligations of the local unit of government, but shall be secured by payments of assessments on benefitted properties; and

 

WHEREAS, the “Property Assessed Clean Energy Act,” has specific requirements for creating, adopting, and administering a program; and

 

WHEREAS, the “Property Assessed Clean Energy Act” states a program may be administered by a program administrator or the local unit of government with associated fees making the program no cost to the County or general public; and

 

WHEREAS, Lake County does not have staff experiences in the creation and administration of a property assessed clean energy program in compliance with the “Property Assessed Clean Energy Act”; and

 

WHEREAS, the Lake County Board desires to create and adopt a program and make financing available to businesses in Lake County expeditiously and with no cost to the County or general public; and

 

WHEREAS, the commonly used acronym for “Property Assessed Clean Energy” (PACE) may be confusing locally as PACE is also the name for the region’s suburban bus transportation system. Lake County reserves the right to amend the name of its program in the future to avoid confusion.

 

NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that they hereby declare their intent to create a “Property Assessed Clean Energy Program” for all of Lake County with no cost to the County or general public, and that Lake County Board desires to request proposals from for-profit and non-profit entities to be the program administrator.

 

DATED at Waukegan, Illinois, on October 8, 2019.