6.
City Council Joint Work Session
- Meeting Date:
- 11/06/2017
- From:
- Caleb Blaschke, Assistant to the City Manager
- Department:
Co-Submitter:
James Jayne, Director of Special Initiatives, Coconino County
Information
TITLE:
Legislative Issues Including Joint Resolution of Support for Commercial Property Assessed Clean Energy (CPACE).
DESIRED OUTCOME:
Staff recommends that the City of Flagstaff and Coconino County create a joint resolution of support for CPACE.
EXECUTIVE SUMMARY:
Commercial Property Assessed Clean Energy (CPACE) is an economic development financing tool that is driven by local governments collaborating with commercial property owners and lenders to upgrade properties, create local jobs and revitalize neighborhood commercial centers. These upgrades consist of new windows, roofs, insulation, lighting, HVAC systems, water saving fixtures, and other clean energy improvements.
As an economic development tool, CPACE creates local jobs, increases property values and revitalizes neighborhoods. In addition, CPACE helps the City and County improve sustainability through the clean energy improvements.
In order for CPACE to be available to Coconino County and Flagstaff residents, the state of Arizona must pass a bill that authorizes contractual assessment-based financing. The County would then opt into the program that allows property owners to secure the private financing through the lien process. Rick Moore, Clean Energy and Efficiency Director, with the Grand Canyon Trust is working with the City and County on advancing state legislation that allows for CPACE. Mr. Moore will provide a presentation at the joint work session on November 6, 2017.
As an economic development tool, CPACE creates local jobs, increases property values and revitalizes neighborhoods. In addition, CPACE helps the City and County improve sustainability through the clean energy improvements.
In order for CPACE to be available to Coconino County and Flagstaff residents, the state of Arizona must pass a bill that authorizes contractual assessment-based financing. The County would then opt into the program that allows property owners to secure the private financing through the lien process. Rick Moore, Clean Energy and Efficiency Director, with the Grand Canyon Trust is working with the City and County on advancing state legislation that allows for CPACE. Mr. Moore will provide a presentation at the joint work session on November 6, 2017.
INFORMATION:
Council Goals:
Economic Development.
Economic Development.
Attachments
No file(s) attached.