Agenda Item # 11.a.
City Commission Regular Meeting
- Meeting Date:
- 09/15/2014
- Re
- SELF Presentation
- Submitted For:
- Robert Bradshaw
SUBJECT:
Presentation by Doug Coward, Executive Director, Solar and Energy Loan Fund (SELF) on a new program called Property Assessed Clean Energy (PACE).
SUMMARY:
SELF is officially the Administrator of a new County program called Property Assessed Clean Energy (PACE) and their investor started them with $1,000,000.00 as program seed money for the launch.
The money can be used to retrofit existing buildings in regards to: energy efficiency, renewable energy, wind mitigation, and water conservation. The program allows SELF to pay local contractors to do projects in these categories, and help property owners improve their buildings by either bringing it up to code or improve their value and performance. Property owners can enroll in the program and it is 100% optional and is done by individual property. The investment is backed by the property equity, which is also the investment amount.
This program will boost reinvestment in the City of Fort Pierce. SELF looks forward to collaborating with the City in regards to promoting this money and program.
The money can be used to retrofit existing buildings in regards to: energy efficiency, renewable energy, wind mitigation, and water conservation. The program allows SELF to pay local contractors to do projects in these categories, and help property owners improve their buildings by either bringing it up to code or improve their value and performance. Property owners can enroll in the program and it is 100% optional and is done by individual property. The investment is backed by the property equity, which is also the investment amount.
This program will boost reinvestment in the City of Fort Pierce. SELF looks forward to collaborating with the City in regards to promoting this money and program.
RECOMMENDATION:
Staff recommends collaborating with SELF to promote this new program.
ALTERNATIVES:
Staff will proceed as directed by City Commission.
RESPONSIBLE STAFF:
Robert J. Bradshaw, City Manager
COORDINATED WITH:
Doug Coward, Executive Director, SELF
Fiscal Impact
- Budgeted Y/N:
- Fiscal Year:
- Account:
- Amount:
OTHER INFORMATION:
No fiscal impact.