HomeMy WebLinkAboutReso 2022-3348RESOLUTION NO. 2022 -
A RESOLUTION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, APPROVING AN
INTERLOCAL AGREEMENT WITH THE FLORIDA PACE FUNDING AGENCY, AND AN
INDEMNIFICATION AGREEMENT WITH ITS THIRD -PARTY ADMINISTRATOR, NORTH
BRIDGE ESG, LLC.; AUTHORIZING THE CITY MANAGER AND CITYATTORNEYTO DO
ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, Section 163.08, Florida Statutes (the "Supplemental Act"), authorizes counties,
municipalities and certain separate local government entities to establish and administer financing
programs pursuant to which owners of real property may obtain funding for energy conservation
and efficiency, renewable energy and wind resistance improvements (as referred to therein, the
"Qualifying Improvements"), and repay such funding through voluntary special assessments,
sometimes referred to as non -ad valorem assessments ("Special Assessments"), levied upon the
improved property pursuant to financing agreements between the owner thereof and the local
government (the "Financing Agreements"); and
WHEREAS, the Florida PACE Funding Agency ("FPFA") is one such separate unit of local
government within the State of Florida which was established forthe express purpose of providing
uniform platform to facilitate the financing of Qualifying Improvements throughout the State of
Florida; and
WHEREAS, pursuant to the Supplemental Act or as otherwise provided by law, local
governments may enter into a partnership with other local governments for the purpose of
providing and financing Qualifying Improvements, and a Qualifying Improvement Program may be
administered by a third party for-profit entity or a not for profit organization on behalf of or at the
discretion of the local government; and
WHEREAS, the installation of Qualifying Improvements may increase energy efficiency and
improve the wind resistance of existing structures within the City of Sunny Isles Beach ("City")
thereby reducing the burdens from fossil fuel energy production and contributing to the local
economy by cost savings to property owners, enhancing property values and increasing job
opportunities; and
WHEREAS, the upfront costs of Qualifying Improvements impede installation and existing
financing options may be insufficient for property owners to access cost-effective financing for
energy-saving or wind -resistance property improvements due to requirements associated with
traditional debt or equity financing options; and
WHEREAS, pursuant to the aforementioned Supplemental Act, on November 15, 2018, the
City adopted Ordinance No. 2018-533, establishing a Property Assessed Clean Energy Program in
the City ("PACE Program"), which is codified in Chapter 251 of the City's Code of Ordinances
("Code"); and
@BCL@780B01D9.doc Page 1 of 3 711
WHEREAS, FPFA wishes to operate within the City pursuant to the City's PACE Program, and
utilizes North Bridge ESG, LLC, as a third -party administrator for their PACE Program
("Administrator"); and
WHEREAS, the FPFA has already created the financing, levy and collection process to
implement PACE Programs through local government partners without cost to or assumption of
liability by, or demand upon the credit of the City; and
WHEREAS, the Administrator has agreed to indemnify the City for acts during the
administration of the PACE Programs for which it is a party; and
WHEREAS, the City Commission deems it to be in the best interest and welfare of the
residents of the City to enter into an interlocal agreement with FPFA, and an indemnification
agreement with its third -party administrator North Bridge ESG, LLC, both of which are attached
hereto as Exhibit "A".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recital paragraphs are hereby ratified and
confirmed as being true and the same are hereby made part of this Resolution.
Section 2. Approval of Agreements and Authorization to Execute. The City Commission
hereby approves the Interlocal Agreement with The Florida PACE Funding Agency and the
Indemnification Agreement with its third party administrator, North Bridge ESG, LLC, both of which
are attached hereto as Exhibit "A".
Section 3. Authorization of City Manager and City Attorney. The City Manager and the City
Attorney are hereby authorized to do all things necessary to execute agreements.
Section 4. Effective Date. This Resolution shall become effective immediately upon its
passage and adoption.
PASSED AND ADOPTED this 191h day of May 2022.
Dana Robin Goldman, Mayor
@BCL@780B01D9.doc Page 2 of 3 712
ATTEST:' `
A
Mauricb Betancuk CMC, City Clerk
APPROVED AS TO FORM
AND LEGA UFFICIENCY:
Edward A. Dion, City Attorney
Moved by:L�. /� �(� " Seconded by: CL S,,/'
Vote:
Mayor Goldman
7/ (Yes)
(No)
Vice Mayor Viscarra
7(Yes)
(No)
Commissioner Joseph
!' (Yes)
(No)
Commissioner Lama
Yes)
(No)
Commissioner Stuyvesant
(Yes)
(No)
@BCL@780B01D9.doc Page 3 of 3 713
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
commercial properties ("C -PACE Program").
In exchange for allowing NB to operate within the City, the City is requiring that NB provide the Cit
with a separate indemnification agreement for the benefit of the City, which is attached to the
Resolution as well.
ATTACHMENTS:
Resolution
Item Number: 10.AB
710