Resolution 15465CITY OF ALAMEDA RESOLUTION NO. 15465
JOINING THE FIGTREE PACE PROGRAM; AUTHORIZING THE
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY TO
CONDUCT CONTRACTUAL ASSESSMENT PROCEEDINGS AND
LEVY CONTRACTUAL ASSESSMENTS WITHIN THE TERRITORY
OF THE CITY OF ALAMEDA; AND AUTHORIZING RELATED
ACTIONS
WHEREAS, the California Enterprise Development Authority ("CEDA") has
adopted the Figtree Property Assessed Clean Energy (PACE) and Job Creation Program
(the "Program" or "Figtree PACE"), to allow the financing of certain renewable energy,
energy efficiency, seismic retrofits, electric vehicle charging infrastructure, and water
efficiency improvements (the "Improvements") through the levy of contractual
assessments pursuant to Chapter 29 of Division 7 of the Streets & Highways Code
("Chapter 29"), and the issuance of improvement bonds or other evidences of
indebtedness (the "Bonds") under the Improvement Bond Act of 1915 (Streets and
Highways Code Sections 8500 et seq.) (the "1915 Act") upon the security of the unpaid
contractual assessments; and
WHEREAS, Chapter 29 provides that assessments may be levied under its
provisions only with the free and willing consent of the owner 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 Parcel")
within its jurisdiction ("Participating Property Owners") to participate in Figtree PACE, and
to allow CEDA to conduct assessment proceedings under Chapter 29 and to issue Bonds
under the 1915 Act to finance the Improvements; and
WHEREAS, CEDA will conduct assessment proceedings under Chapter 29 to
establish an assessment district (the "District") and issue Bonds under the 1915 Act to
finance Improvements; and
WHEREAS, there has been presented to this meeting a proposed form of
Resolution of Intention to be adopted by CEDA in connection with such assessment
proceedings (the "ROI"), a copy of which is attached hereto as Exhibit A; and
WHEREAS, said ROI sets forth the territory within which assessments may be
levied for Figtree PACE which territory shall be coterminous with the City's official
boundaries of record at the time of adoption of the ROI (the "Boundaries"); and
WHEREAS, pursuant to Chapter 29, the City authorizes CEDA to conduct
assessment proceedings, levy assessments, pursue remedies in the event of
delinquencies, and issue bonds or other forms of indebtedness to finance the
Improvements in connection with Figtree PACE; 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
delinquencies, the issuance, sale or administration of the bonds or other indebtedness
issued in connection with Figtree PACE.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Alameda, as follows:
Section 1. Good Standing. The City is either a municipal corporation or other public
body and a member of CEDA in good standing.
Section 2. Public Benefits. On the date hereof, the City Council hereby finds and
determines that the Program and issuance of Bonds by CEDA in connection with Figtree
PACE will provide significant public benefits, including without limitation, savings in
effective interest rates, bond preparation, bond underwriting and bond issuance costs and
reductions in effective user charges levied by water and electricity providers within the
boundaries of the City.
Section 3. Appointment of CEDA. The City hereby appoints CEDA as its
representative to (i) record the assessment against the Participating Parcels, (ii)
administer the District in accordance with the Improvement Act of 1915 (Chapter 29 Part
1 of Division 1 0 of the California Streets and Highways Code (commencing with Section
8500 et seq.) (the "Law"), (iii) prepare program guidelines for the operations of the
Program and (iv) proceed with any claims, proceedings or legal actions as shall be
necessary to collect past due assessments on the properties within the District in
accordance with the Law and Section 6509.6 of the California Government Code. The
City is not and will not be deemed to be an agent of Dividend or CEDA as a result of this
Resolution.
Section 4. Assessment Proceedings. In connection with Figtree PACE, the City
hereby consents to the special assessment proceedings by CEDA pursuant to Chapter
29 on any property within the Boundaries and the issuance of Bonds under the 1915 Act,
provided that:
(1) Such proceedings are conducted pursuant to one or more Resolutions of
Intention in substantially the form of the ROI;
(2) The Participating Property Owners, who shall be the legal owners of such
property, voluntarily 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
(3) 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 the Bonds in connection with Figtree PACE.
Section 5. Program Report. The City Council hereby acknowledges that
pursuant to the requirements of Chapter 29, CEDA has prepared and will update from
time to time the "Program Report" for Figtree PACE (the "Program Report") and
associated documents, and CEDA will undertake assessment proceedings and the
financing of Improvements as set forth in the Program Report.
Section 6. Foreclosure. The City Council hereby acknowledges that the Law
permits foreclosure in the event that there is a default in the payment of assessments due
on a property. The City Council hereby designates CEDA as its representative to proceed
with collection and foreclosure of the liens on the defaulting properties within the District,
including accelerated foreclosure pursuant to the Program Report.
Section 7. City Contact Designation. The appropriate officials and staff of the City
are hereby authorized and directed to make applications for Figtree PACE available to all
property owners who wish to finance Improvements. The following staff persons, together
with any other staff designated by the City Manager from time to time, are hereby
designated as the contact persons for CEDA in connection with Figtree PACE: Assistant
City Manager, 510-747-4741.
Section 8. City Execution of Documents. The appropriate officials and staff of the
City are hereby authorized and directed to execute and deliver such closing certificates,
requisitions, agreements and related documents as are reasonably required by CEDA in
accordance with the Program Report to implement Figtree PACE for Participating
Property Owners.
Section 9. CEQA. The City Council hereby finds that adoption of this Resolution
is not a "project" under the California Environmental Quality Act ("CEQA"), 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 10. Effective Date. 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 Dividend.
Section 11 . Costs. Services related to the formation and administration of the
assessment district will be provided by CEDA at no cost to the City.
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I, the undersigned, hereby certify that the foregoing Resolution was duly and
regularly adopted and passed by the Council of the City of Alameda in a regular meeting
assembled on the 18th day of December, 2018, by the following vote to wit:
AYES: Councilmembers Ezzy Ashcraft, Matarrese, Oddie, Vella and
Mayor Spencer-5.
NOES: None.
ABSENT: None.
ABSTENTIONS: None.
IN WITNESS, WHEREOF, I have hereunto set my hand and affixed the seal of
said City this 19th day of December, 2018.
Approved as to Form:
fv\:t Ct"-lfJ_l H l&~~t,~
Michael H. Roush
Interim City Attorney
City of Alameda