HomeMy WebLinkAbout7353 RESOLUTION NO. 7353
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ARCADIA CONSENTING TO
THE INCLUSION OF PROPERTIES WITHIN THE TERRITORY OF THE CITY IN THE
CSCDA OPEN PACE PROGRAMS; AUTHORIZING THE CALIFORNIA STATEWIDE
COMMUNITIES DEVELOPMENT AUTHORITY TO ACCEPT APPLICATIONS FROM
PROPERTY OWNERS, CONDUCT CONTRACTUAL ASSESSMENT PROCEEDINGS
AND LEVY CONTRACTUAL ASSESSMENTS WITHIN THE TERRITORY OF THE CITY;
AND AUTHORIZING RELATED ACTIONS
WHEREAS, the California Statewide Communities Development Authority (the
"Authority") is a joint exercise of powers authority, the members of which include
numerous cities and counties in the State of California, including the City of Arcadia (the
"City"); and
WHEREAS, Chapter 29 of Division 7 of the Streets & Highways Code ("Chapter
29") authorizes the Authority to establish voluntary contractual assessment programs to
finance or refinance renewable energy, energy efficiency, water efficiency and seismic
strengthening improvements, electric vehicle charging infrastructure and such other
improvements, infrastructure or other work as may be authorized by law from time to time
(collectively, the "Improvements") through the levy of contractual assessments within
counties and cities throughout the State of California that consent to the participation of
properties within their respective territories and the issuance of bonds from time to time;
and
WHEREAS, for the purpose of providing financing and refinancing for the
Improvements, the Authority has established two CSCDA Open PACE Programs (the
"Programs"): (i) the CaliforniaFIRST Program and (ii) the CSCDA Open PACE Program;
and
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WHEREAS, the Authority has designated multiple third-party program
administrators to administer the Programs; the current program administrators are the
AllianceNRG Program (CounterPointe Energy Solutions (CA) LLC), PACE Funding
Group LLC, Renew Financial Group LLC, CleanFund Commercial PACE Capital, Fortifi,
Greenworks Lending, White Oak Advisors, Stonehill PACE, LLC, LordCap PACE, Green
PACE Capital, Poppy Bank, PACE Loan Group, Petros PACE Finance, and Bayview
Asset Management. The Authority will notify the City of any additions or changes; and
WHEREAS, the Authority may also administer certain projects itself, working
directly with third-party capital providers; and
WHEREAS, Chapter 29 provides that assessments may be levied under its
provisions only with the free and willing consent of the owner or owners of each lot or
parcel on which an assessment is levied at the time the assessment is levied; and
WHEREAS, the City desires to allow the owners of property ("Participating
Property Owners") within its territory to participate in the Programs and to allow the
Authority to conduct assessment proceedings under Chapter 29 within its territory and to
issue bonds to finance or refinance Improvements; and
WHEREAS, the territory within which assessments may be levied for the
Programs shall include all of the territory within the City's official boundaries; and
WHEREAS, the Authority will conduct all assessment proceedings under
Chapter 29 for the Programs and issue any bonds issued in connection with the
Programs; and
WHEREAS, the City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case of
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delinquencies in such assessment payments; or the issuance, sale or administration of
any bonds issued in connection with the Programs;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ARCADIA,
CALIFORNIA, DOES FIND, DETERMINE AND RESOLVE AS FOLLOWS:
SECTION 1. This City Council hereby finds and declares that
properties in the territory of the City will benefit from the availability of the Program within
the territory of the City and, pursuant thereto, the conduct of special assessment
proceedings by the Authority pursuant to Chapter 29 and the issuance of bonds to finance
or refinance Improvements.
SECTION 2. In connection with the Programs, the City hereby
consents to the conduct of special assessment proceedings by the Authority pursuant to
Chapter 29 on any property within the territory of the City and the issuance of bonds to
finance or refinance Improvements; provided, that
(1) The Participating Property Owners, who shall be the legal owners of
such property, execute a contract pursuant to Chapter 29 and comply with other
applicable provisions of California law in order to accomplish the valid levy of
assessments; and
(2) The City will not be responsible for the conduct of any assessment
proceedings; the levy of assessments; any required remedial action in the case of
delinquencies in such assessment payments; or the issuance, sale or
administration of any bonds issued in connection with the Programs.
SECTION 3. The appropriate officials and staff of the City are hereby
authorized and directed to make applications for the Programs available to all property
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owners who wish to finance or refinance Improvements; provided, that the Authority shall
be responsible for providing such applications and related materials at its own expense.
SECTION 4. The Development Services Director, or designee, is hereby
authorized and directed to execute and deliver such certificates, requisitions, agreements,
and related documents as are reasonably required by the Authority to implement the
Programs.
SECTION 5. The City Council hereby finds that adoption of this
Resolution is not a "project" under the California Environmental Quality Act, because the
Resolution does not involve any commitment to a specific project which may result in a
potentially significant physical impact on the environment, as contemplated by Title 14,
California Code of Regulations, Section 15378(b)(4).
SECTION 6. This Resolution shall take effect immediately upon its
adoption. The City Clerk is hereby authorized and directed to transmit a certified copy of
this Resolution to the Secretary of the Authority at: Secretary of the Board, California
Statewide Communities Development Authority, 1400 K Street, Sacramento, CA 95814.
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Passed, approved and adopted this 2nd day of March, 2021.
,AZe-Je
Mayor c 'the City of Arcadia
ATTEST:
-4frte-/ ,‘"te
City Clerk
APPROVED AS TO FORM:
Stephen P. Deitsch
City Attorney
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STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) SS:
CITY OF ARCADIA )
I, GENE GLASCO, City Clerk of the City of Arcadia, hereby certifies that the
foregoing Resolution No. 7353 was passed and adopted by the City Council of the City of
Arcadia, signed by the Mayor and attested to by the City Clerk at a regular meeting of said
Council held on the 2nd day of March, 2021 and that said Resolution was adopted by the
following vote, to wit:
AYES: Beck, Cheng, Verlato, Tay, and Chandler
NOES: None
ABSENT: None
tity Clerk of the City of Arcadia
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