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CC - CONSENT ITEM: Adoption of a Resolution Authorizing the California Statewide Communities Development Authority to Offer Property Assessed Clean Energy Financing to the Property Owner at 12402 Washington Place.
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Meeting Date: January 27, 2025
Contact Person/Dept: Elaine Warner/Office of Economic and Cultural Development
Phone Number: (310) 253-5777
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [X] No []
Public Notification: (E-Mail) Meetings and Agendas - City Council (01/22/2025); Dan Levin, Property Owner (01/08/2025) James Hamill, Managing Director of the California Statewide Communities Development Authority (01/08/2025)
Department Approval: Jesse Mays, Assistant City Manager (01/07/2025)
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RECOMMENDATION
Staff recommends the City Council adopt a Resolution to authorize the California Statewide Communities Development Authority (CSCDA) to offer their Property Assessed Clean Energy (“Open PACE”) program financing to the current property owner of 12402 Washington Place (Participating Property).
BACKGROUND
CSCDA, the largest joint powers authority in California, was founded and sponsored by the League of California Cities and the California State Association of Counties. CSCDA has implemented Property Assessed Clean Energy (“PACE”) under the provisions of Chapter 29 of Division 7 of the Streets & Highways Code (“Chapter 29”) on behalf of its member counties and cities. Chapter 29 authorizes a legislative body to designate an area within which a public agency (including a joint powers authority like CSCDA) and property owners may enter into voluntary contractual assessments to finance and refinance the installation on real property of distributed generation renewable energy, energy efficiency, water efficiency and seismic strengthening improvements, electric vehicle charging infrastructure and such other improvements, infrastructure or work as may be authorized by law from time to time (collectively, the “Improvements”).
PACE has been approved and is available in over 460 cities and counties throughout the State.
CSCDA has established the CSCDA Open PACE Program to provide financing for Improvements under Chapter 29 and designated multiple third-party program administrators to offer CSCDA’s members turn-key PACE solutions.
DISCUSSION
CSCDA contacted staff regarding a request for financing from the ownership of the property at 12402 Washington Place. The owner, Mr. Levin, has asked PACE Equity to provide financing through the CSCDA Open PACE Program for the installation of electric car charging infrastructure. The proposed project will be the first fully solar and battery generated EV station in the region and will have the capability of charging eight cars simultaneously with a direct current speed of approximately 15 minutes. The property site was previously a gas station, and the proposed use is allowable subject to all applicable Zoning Code standards.
Similar to the financing approved for Southern California Hospital in 2019 and RedCar Properties in 2024, the CSCDA is requesting the City Council consider the proposed resolution to allow Commercial PACE financing for this forthcoming project (Attachment 1). The resolution is to approve only the property noted, and no other projects in the City.
The CSCDA requires the City to adopt a Resolution to allow Mr. Levin to execute the loan agreement. The Resolution does not permit CSCDA to offer their Open PACE program to other property owners in the City.
FISCAL ANALYSIS
There is no direct fiscal impact to the City by adopting the proposed Resolution.
ATTACHMENT
1. Proposed Resolution to Authorize the CSCDA Open PACE Program for the property located at 12402 Washington Place.
MOTION
That the City Council:
Adopt a Resolution authorizing the California Statewide Communities Development Authority to offer their Property Assessed Clean Energy program financing to the Property Owner of 12402 Washington Place.