title
CC – CONSENT ITEM: Resolution Authorizing the California Statewide Communities Development Agency (CSCDA) Open Property Assessed Clean Energy (PACE) Program for Residential Properties in the City of Culver City.
body
Meeting Date: November 9, 2026
Contact Person/Dept.: Diane Glauber, Director of Housing and Human Services/ Housing and Human Services Department
Phone Number: 310-253-5782
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [X] No []
Public Notification: (E-Mail) Meetings and Agendas – City Council (11/04/2026)
Department Approval: Diane Glauber, Director of Housing and Human Services (10/27/2026)
______________________________________________________________
RECOMMENDATION
Staff recommends the City Council adopt a resolution authorizing the California Statewide Communities Development Agency (CSCDA) Open Property Assessed Clean Energy (PACE) Program to operate within the City of Culver City, making residential PACE financing available to Culver City homeowners.
BACKGROUND
What is PACE. PACE is a financing mechanism, enabled by the California Legislature in 2008, that allows property owners to finance energy efficiency, renewable energy, and water conservation improvements. PACE financing is repaid as a special assessment on the property’s regular property tax bill, in the same way as other local public benefit assessments, such as neighborhood improvement districts.
Need and benefits. PACE addresses a financial market gap for underserved communities. A larger percentage of PACE customers live in low- and moderate-income communities and have few or no other low-cost financing options due to lower credit (FICO) scores. For homeowners, PACE offers eligibility based on equity in the property and ability to repay rather than on FICO score; no upfront costs ($0 down) for eligible improvements; fixed, fully amortized interest rates; repayment through property taxes; and increased home eff...
Click here for full text