2021-007 - Evidencing the City's Intent to Establish a PACE Program

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RESOLUTION NO. 2021-007 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS EVIDENCING THE CITY'S INTENT TO ESTABLISH A PACE PROGRAM. FOR THE CITY, MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, The 83rd Regular Session of the Texas Legislature enacted the Property Assessed Clean Energy Act, Texas Local Government Code Chapter 399 (the "PACE Act'j, which allows the governing body of a local government, including City of Paris, Texas (the "City"), to designate an area of the territory of the local government as a region within which an authorized representative of the local government ("Authorized Representative") and the record owners of commercial, industrial, and large multifamily residential (5 or more dwelling units) real property may enter into written contracts to impose assessments on the property to repay the financing by the owners of permanent improvements fixed to the property intended to decrease water or energy consumption or demand; and WHEREAS, the installation or modification by property owners of qualified energy or water saving improvements to commercial, industrial, agricultural, and large multifamily residential real property in the City will further the goals of energy and water conservation without cost to the public; and WHEREAS, the City Council finds that financing energy and water conserving projects through contractual assessments (`PACE frnancing'3 furthers essential government purposes, including but not limited to, economic development, reducing energy consumption and costs, and conserving water resources; and WHEREAS, the City Council, subject to the public hearing scheduled as provided below, at which the public may comment on the proposed program and the report issued contemporaneously with this resolution, finds that it is convenient and advantageous to (i) establish a pilot program under the PACE Act in connection with the Paris Lakes Medical Center ("Pilot Project") and (ii) expand the program beyond the Pilot Project whereby the Authorized Representative and the record owners of qualified real property may enter into PACE financing arrangements: THEREFORE, be it resolved by the City Council of the City of Paris, Texas that: Section 1. The Recitals to this Resolution are true and correct and are incorporated into this Order for all purposes. Section 2. City hereby adopts this Resolution of Intent and finds that financing qualified projects through contractual assessments pursuant to the PACE Act is a valid public purpose.