17 - Establishing City of Paris Texas PACE - Property Assessed Clean Energy Program

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Phase I — Establishing the framework for a local PACE Program Phase 1 includes four primary statutory requirements for a local county or municipality to establish the framework for a PACE program within its jurisdiction. The Texas statute code requires a report to be published for the public and posted on the municipality's website. This report outlines the primary facets of the local program, application process, financing guidelines, and other big -picture and administrative items pertinent to running a PACE program. Next, the statute requires two resolutions to be adopted by the local county or municipality, including a resolution of intent to create a PACE program, and a resolution to establish the PACE program. After the resolution of intent is adopted, the statute requires the governmental body to hold a public hearing on the proposed program and report. After the public hearing, the governmental body passes the second resolution, the resolution to establish the PACE Program. 1. Public PACE Report (Required by Section 399.009) — Report by local government describing the PACE program once structure has been decided. This report must be made available for public inspection on the local government's website and at the office of designated official. 2. Resolution of Intent to Create PACE Program (Required by Section 399.008(a)(1)) — Include finding that projects will serve a valid purpose, local government intends to make contractual assessments to repay financings, description of project and map boundaries, reference to the Public PACE Report, statement of the time and place for a public hearing. 3. Public Hearing (Required by Section 399.008(a)(2)) — Public may comment on proposed program and report. 4. Resolution to Establish Program (Required by Section 399.008(a)(3)) — This resolution should include each item in the Public PACE Report required by statute, or it may incorporate the Report by reference; this resolution should also include a description of each aspect of the program that may be amended only after another public hearing is held. STATUS OF ISSUE: The city has been approached by representatives of the developers of Paris Lakes about establishing a PACE program to help finance PACE eligible improvements to an addition they hope to construct to the now freestanding ER on their property. I made a presentation to City Council regarding PACE financing at the February 8, 2021 council meeting. At that time, I was instructed to bring back a PACE program for Council approval, and in particular to do what was necessary to expedite the Paris Lakes project (the "Pilot Project") while laying a groundwork for rapid expansion of the program city-wide. On February 22°d , Council accomplished steps one and 2 of Phase 1, receipt of the Report and passage of the resolution of intent. On April 22, Council will conduct the public hearing and consider and possibly pass the resolution to establish the