Reso 2022-3348 - Laserfiche WebLink

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OF WA h�y� City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 (305) 947-0606 City Hall (305) 949-3113 Fax MEMORANDUM TO: Honorable Mayor and City Commissioners FROM: Stan Morris, City Manager DATE: May 19, 2022 RE: Approval of Agreements for PACE RECOMMENDATION: Staff recommends approval of this Resolution. REASONS: On November 15, 2018, the City adopted Ordinance No. 2018-533, establishing a Property Assesse( Clean Energy Program in the City ("PACE Program"), which is codified in Chapter 2S1 of the City's Cod of Ordinances ("Code"). The stated purpose of the City's PACE Program is to allow a property owner t( voluntarily finance energy efficient, renewable energy, or wind resistant improvements through a non - ad valorem assessment implemented and managed by a PACE Local Government and repaid througf the annual tax bill. The Florida PACE Funding Agency ("FPFA") is a separate legal entity and unit of local governmen established pursuant to Section 163.01(7)(8), Florida Statutes, which qualifies as a "PACE Loca Government" under Chapter 251 of the City's Code. FPFA wishes to operate within the City, ani pursuant to Chapter 251 of the City's Code, in order to do so, is required to enter into an interloca agreement with the City. The Subscription Agreement for the Commission's consideration will serve as an interlocal agreement, permitting FPFA to administer a PACE Program within the City. Notably, this is a non-exclusivE agreement, therefore, should another PACE Local Government Agency wish to operate within the City it may do so, provided it also enters into an agreement with the City. Additionally, North Bridge ESG, LLC ("NB") is a third party administrator of FPFA, and will be operatir on behalf of FPFA within the City for the sole purpose of providing C -PACE, which is limited tc Item Number: 10.AB 709