HomeMy WebLinkAboutResolution of Intent - Idaho CPACE
RESOLUTION NO. ____
BY THE [CITY][COUNTY] COUNCIL OF [LOCAL GOVERNMENT]:
A RESOLUTION EXPRESSING AN INTENT TO ESTABLISH A COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE PROGRAM AND ACTIONS RELATED THERETO.
WHEREAS, the Commercial Property Assessed Capital Expenditure Act, Chapter 38 of Title 67, Idaho Code, as amended (the “Act”) authorizes municipalities, counties and other political
subdivisions of the State of Idaho to establish a commercial property assessed capital expenditure program (a “C-PACE Program”) to assist in financing the costs of certain renewable
energy, energy and water efficiency and resiliency improvements (the “Qualified Improvements”) owned by certain commercial, industrial, agricultural or multifamily housing property owners
through the levy of special assessments;
WHEREAS, the financing of Qualified Improvements through special assessments is a valid public purpose;
WHEREAS, the [City][County] desires to establish a C-PACE Program pursuant to the Act;
NOW, THEREFORE, BE IT RESOLVED BY THE [CITY][COUNTY] COUNCIL OF [LOCAL GOVERNMENT], AS FOLLOWS:
The terms defined or described in the recitals hereto shall have the same meanings when used in the body of this Resolution. All other capitalized terms used herein and not otherwise
defined shall have the meaning given such terms in the Act.<
Pursuant to the Act, the [City][County] hereby expresses its intent to authorize direct financing between Property Owners and Capital Providers as the means to finance Qualified Projects
and to authorize Special Assessments, entered into voluntarily by a Property Owner with the [City][County] by means of an Assessment Agreement for C-PACE Financing, to repay the financing
for Qualified Projects available to Property Owners.
Pursuant to the Act, it is intended that projects involving the installation or modification of a Qualified Improvement, including, but not limited to, new construction or the adaptive
reuse of property with a Qualified Improvement may qualify for financing under the C-PACE Program through the levy of special assessments. In addition, it is also intended that Qualified
Improvements which are installed and operational no more than three (3) years prior to the date when a C-PACE financing application is submitted to the [City][County] may qualify for
financing under the C-PACE Program.
The [City][County] intends that the C-PACE Program shall be available to all Property Owners of Commercial Property within the boundaries of the [City][County] in accordance with the
Act.
Pursuant to the Act and in accordance with Section 67-3806(4) of the Act, the [City][County] proposes to designate [__________] as the administrator of the C-PACE Program (the “Program
Administrator”). The Program Administrator shall adopt a Program Guidebook describing the program and its requirements, review and approve applications for C-PACE financing, provide
notice of approval or disapproval of such applications and collect any fees.
The [City][County] shall hold a public hearing on [_________] at the hour of [____] to receive input from the public with respect to the proposed C-PACE Program as outlined in this Resolution.
[__________] is hereby authorized to administer the C-PACE Program and to execute all documents and take such action as [she][he] may deem necessary or advisable in order to impose voluntary
assessments on properties approved for financing under the C-PACE Program and carry out and perform the purpose of this Resolution.
The sections, paragraphs, sentences, clauses and phrases of this Resolution shall be severable. In the event that any such section, paragraph, sentence, clause or phrase of this Resolution
is found by a court of competent jurisdiction to be invalid, the remaining portions of this Resolution are valid, unless the court finds the valid portions of the Resolution are so essential
to and inseparably connected with and dependent upon the void portion that it cannot be presumed that the Authority has enacted the valid portions without the void ones, or unless the
court finds that the valid portions, standing alone, are incomplete and are incapable of being executed in accordance with the legislative intent.
This Resolution shall take effect immediately upon its approval and adoption.
PASSED this [______________]
[LOCAL GOVERNMENT]
By:
Chair
(SEAL)
ATTEST:
By:
Secretary
CERTIFICATE OF THE AUTHORITY SECRETARY
I DO HEREBY CERTIFY that I am the duly chosen, qualified and acting Secretary of the [City][County] of [___________], Idaho, (the “[City][County]”), and keeper of the records of the
[City][County] Council of the Authority (the “Council”); and HEREBY CERTIFY:
1.That the attached is a true and correct copy of Resolution No. _____ of the [City][County] (the “Resolution”), as adopted at a meeting of the Council held on _______________, and duly
recorded in my office.
2.That said meeting was duly convened and held in all respects in accordance with law, and to the extent required by law, due and proper notice of such meeting was given; that a quorum
was present throughout the meeting and a legally sufficient number of members of the Council voted in the proper manner for the passage of the Resolution; that all other requirements
and proceedings incident to the proper passage of the Resolution have been duly fulfilled, carried out and otherwise observed, and that I am authorized to execute this certificate.
IN WITNESS WHEREOF, I have hereunto set my hand ______________.
[LOCAL GOVERNMENT]
By:
Secretary
(SEAL)
CERTIFICATE OF SECRETARY RE: RESOLUTION AND MEETING
EXHIBITS