Reference No. CB-029-2018    Draft No.
Type: Council Bill Status: Enacted
Meeting Body County Council
Meeting Date 7/24/2018
Introduced Date 7/2/2018 Public Hearing Date 7/24/2018 @ 10:00 a.m.
Effective date: 9/24/2018    
Title: AN ACT CONCERNING COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY PROGRAM for the purpose of establishing the Commercial Property Assessed Clean Energy Program (C-PACE) to allow commercial property owners to access financing for qualifying energy efficiency and clean energy improvements for their buildings through loans from participating lenders.
Proposers/Sponsors: County Executive, Derrick Leon Davis, Dannielle M. Glaros, Todd M. Turner, Deni L. Taveras, Mel Franklin, Obie Patterson
Code sections: 10-317 - , 10-318 - , 10-319 - , 10-320 - , 10-321 -
Attachments: 1. B2018029, 2. CB-29-2018 AIS, 3. CB-29-2018 Report, 4. CB-29-2018 Transmittal
Contact: Dinora Hernandez, Office of Law

Title

AN ACT CONCERNING COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY PROGRAM for the purpose of establishing the Commercial Property Assessed Clean Energy Program (C-PACE) to allow commercial property owners to access financing for qualifying energy efficiency and clean energy improvements for their buildings through loans from participating lenders.

 

Background

This legislation will authorize the implementation of a Commercial Property Assessed Clean Energy (C-PACE) program.  The program would facilitate energy efficiency improvements and renewable energy projects by owners of commercial property in Prince George’s County through loans provided by private lenders.  The property owner would agree to pay a surcharge on their real property tax bill to cover the property owner’s debt payments on the private loan.

 

The County would not have any financial obligation under the C-PACE program.

 

FSC First would serve as the C-PACE program manager.

 

Preference would be provided to County-based lenders, and borrowers would be required to utilize “best efforts” to spend 35% of the total costs incurred on the energy efficiency and clean energy improvements on contracts with County-based MBEs, County-based small businesses, County-based businesses, and minority business enterprise (MBE) firms.  The property owner shall also submit a Local Spending Plan to the program manager for approval, subject to the satisfaction of the program manager.  The Local Spending Plan shall demonstrate the manner in which the property owner will satisfy its commitment to meet the spending goal set forth in this paragraph.

 

7/24/2018:  CB-29-2018 was amended on the floor as follows:

 

1.  On page 2, line 9 delete “through a competitive process to offer financing, and if offered and accepted by the County”

 

2.  On page 2, line 10 add "or Program Manager to" and after “provide” delete “s, related” and after "funding for" delete “administrative services for”

 

3.  On page 5, lines 9 through 11, after guidelines, delete “demonstrating that the energy savings projected to be obtained from the improvements over the life of the loan equal or exceed the principal and aggregate interest to be paid over the term of the loan”.

 

4.  On page 5, line 12, add “or its Program Manager”

 

CB-29-2018 (DR-2) was subsequently enacted.

 



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