HomeMy WebLinkAboutItem No. 09 Resolution & Agreements California Enterprise Development Authority (CEDA) and CleanFund Property Assessed Clean Energy (PACE) or Commercial Properies9)California Enterprise Development Authority (CEDA) and CleanFund Property
Assessed Clean Energy Program (PACE) for Commercial Properties
1.Adopt a Resolution to become an Associate Member of the California Enterprise
Development Authority (CEDA), and to authorize CEDA, through CleanFund
(Commercial Program Administrator), to offer its Commercial Pace (C-PACE)
program and levy assessments within the City of Lake Elsinore commercial
properties; and
2.Approve and authorize the City Manager, or his designee, to execute the Associate
Membership Agreement with CEDA in substantially the form attached and in such final
form as approved by the City Attorney; and
3.Approve and authorize the City Manager, or his designee, to execute the
Indemnification Agreement with CleanFund, the commercial program administrator
through CEDA in substantially the form attached and in such final form as approved by
the City Attorney.
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REPORT TO CITY COUNCIL
To:Honorable Mayor and Members of the City Council
From:Jason Simpson, City Manager
Prepared by:Gina Gonzalez, Director of Economic Development and Legislative Affairs
Date:January 14, 2025
Subject: California Enterprise Development Authority (CEDA) and CleanFund
Property Assessed Clean Energy Program (PACE) for Commercial
Properties
Recommendation
1. Adopt a Resolution to become an Associate Member of the California Enterprise Development
Authority (CEDA), and to authorize CEDA, through CleanFund (Commercial Program
Administrator), to offer its Commercial Pace (C-PACE) program and levy assessments
within the City of Lake Elsinore commercial properties; and
2. Approve and authorize the City Manager, or his designee, to execute the Associate
Membership Agreement with CEDA in substantially the form attached and in such final form
as approved by the City Attorney; and
3. Approve and authorize the City Manager, or his designee, to execute the
Indemnification Agreement with CleanFund, the commercial program administrator through
CEDA in substantially the form attached and in such final form as approved by the City
Attorney.
Background
Under Assembly Bill (AB) 811, California property owners in special assessment districts may
enter voluntary contractual assessments to finance a range of authorized energy and water
efficiency products and improvements. The primary goals of the bill are environmental – to lower
greenhouse gas levels and to reduce energy and water consumption. Additionally, this
mechanism, called Property Assessed Clean Energy (PACE) financing, is viewed by cities and
counties as a stimulus program that spurs economic growth and creates new local jobs.
In accordance with Senate Bill (SB) 100, the 100 Percent Clean Energy Act of 2018, requires that
California power be carbon neutral (i.e. Zero Net Energy) by 2045, and PACE assists commercial
(C-PACE PROGRAM)
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property owners with these requirements. AB 802, passed October 2015, authorized the
California Utilities Commission to collect energy usage data on 50,000+ square foot commercial
and multifamily properties, providing a public comparative dashboard of buildings’ energy
efficiency relative to their peers. The premise is that more energy efficient buildings will have lower
operating expenses and be more attractive to businesses looking to occupy commercial space
within a specified jurisdiction. PACE financing can be the capital source for building owners to
improve their properties to peak efficiency levels.
Discussion
The City of Lake Elsinore is a member of the Western Riverside Council of Government (WRCOG)
Joint Powers Authority (JPA). The City is currently a part of the WRCOG’s Residential PACE
program (R[1]PACE) and the WRCOG Commercial PACE program, but not part of CEDA’s.
WRCOG currently provides its Commercial PACE Program to certain jurisdictions, the majority of
which are from outside of the WRCOG Subregion as shown in the attached WRCOG Commercial
Jurisdictions attachment.
Commercial Pace (C-PACE) Program Benefits
C-PACE programs offer benefits to commercial property owners such as:
•Funding for up to 20% of the construction costs;
•Financing tied to the property;
•Applicable measures are eligible for up to 30-year financing terms at a fixed interest rate;
•Refinancing look back option;
•ACE can be used to refinance previously installed eligible products, going back three
years;
•On average, lower interest rate than other mezzanine financing;
•No upfront costs;
•Frees up equity for working capital reinvestment.
Property owners completing PACE-qualifying projects benefit from higher real estate values,
potentially large tax incentives from credits and accelerated depreciation, state cash rebates,
diminished monthly energy costs, and hedging against escalating energy prices. PACE imposes
no encumbrance on personal or business credit since financing is based on assessed property
values. And PACE assessments freely transfer to subsequent property owners.
C-PACE Eligible Projects:
•Clean energy, through the installation of solar PV panels and other non-fossil-fuel
consuming mechanisms;
•Building energy efficiency;
•Water conservation and efficiency;
•Seismic strengthening; Electric Vehicle (EV) charging infrastructure;
•Wildfire suppression and safety improvements.
The California Association for Local Economic Development (CALED) established CEDA- JPA.
Over 250 municipalities and counties throughout California have already joined the CEDA,
(C-PACE PROGRAM)
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including five Riverside County cities: City of Beaumont, City of Indian Wells, City of Moreno
Valley, City of Menifee, and the City of Riverside. CEDA offers a complete turn-key PACE solution
without cost to the city and indemnifies the City for its participation in the program. Cities and
counties can enter multiple JPA’s to provide multiple options for customers who are interested in
the benefits of the PACE program- giving them opportunities for the best cost and rates possible.
The program enables property owners to amortize payments for eligible improvements for up to
30 years for Commercial PACE, providing long term, low interest rate funds with no money down,
repaid as a line-item on property owners’ annual tax bill. Property owners in over 250 California
jurisdictions can reduce their carbon footprints by investing in clean energy improvements with
PACE funding.
CleanFund, the program administrator brought on by CEDA, is one of the largest and leading
long-term financing for energy efficiency, water conservation, renewable energy and seismic
improvements for commercial, multifamily, and other nonresidential properties in the United
States. clean energy finance companies operating in the United States. www.cleanfund.com
Once a city becomes an Associate Member of CEDA (via resolution- no monetary commitment),
the City of Lake Elsinore would have access to public financing programs for projects for both city
projects and for private development projects, thereby having access to their C-PACE Program,
giving commercial property owners the ability to also join CEDA’s PACE program and secure
funding for projects through the program. This would give commercial property owners an
additional option to utilize (either WRCOG’s C-PACE program for PACE eligible measures or
CEDA’s), providing a competitive opportunity to commercial property owners in Lake Elsinore to
get the best rates and terms possible for projects. There is no cost or project requirement to join
the CEDA JPA as an Associate Member, or cost to join their PACE program.
California Enterprise Development Authorities (CEDA’s) C-PACE (Commercial) Program
Background:
The CleanFund C-PACE program creates a streamlined and cost-free pathway for cities and
counties to authorize a financing program for energy and water efficiency products benefiting
property owners within their jurisdiction. Local municipalities that are not currently within
CleanFund PACE service area can join by adopting two resolutions: one authorizing the
jurisdiction to join CEDA, and the second confirming the jurisdiction’s intent to join CleanFund’s C-
PACE program as well as allowing CEDA to conduct assessment proceedings.
The CleanFund C-PACE program covers only commercial properties and multifamily properties
containing five or more units. The program does not cover single-family residences or residences
with up to four dwelling units, as the program does not offer (“R-PACE”), or residential PACE.
While C-PACE and R-PACE share the same collection mechanism, land-based assessment
financing collected by a County Treasurer or Tax Collector, there are critical differences between
them: C-PACE requires any existing lienholders to consent to the PACE assessment before
financing can close; R-PACE does not require notification or consent, leaving lenders with an
unknown exposure. Residential realtors contended that previously undisclosed PACE
assessments on homes impeded their scalability, chilling the market. Prior to 2017, consumer
protections for homeowners using R-PACE were virtually non-existent. A Wall Street Journal
(C-PACE PROGRAM)
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investigation of R-PACE financing companies found significant gaps in compliance and
monitoring that were subsequently remedied by legislation.
By contrast, legislators acknowledged that commercial property owners are more savvy and
sophisticated, with the knowledge and protections in place to preclude their being exploited by
contractors and financiers. CleanFund solely offers PACE on commercial properties and is a
California licensed lender. By encouraging City real estate and business owners to use energy
and water more efficiently, and by developing and supporting renewable energy to power
properties, the CEDA program also supports the City’s climate action plan goals it might articulate
and helps our residents secure a more sustainable future. However, the biggest benefit is for
commercial developers to be able to reduce their cash assets requirement for construction loans,
and also replace a portion of their construction loan with PACE, thereby reducing overall weighted
costs- allowing projects to move forward in a difficult and costly market.
In conclusion, staff recommends that the Lake Elsinore City Council consider becoming an
Associate JPA member of CEDA, and adopt the C-PACE Financing Program with CleanFund, in
addition to WRCOGs program. This would allow for commercial property owners in the City of
Lake Elsinore to have another option, and to voluntarily place assessment liens on their own
property for the purpose of installing energy efficiency and conservation, water efficiency and
conservation, renewable energy generation upgrades, seismic retrofits, and wildfire suppression
in areas of the City that are deemed a Very High Fire Hazard, to provide another available C-
PACE program for commercial property owners in the City of Lake Elsinore to consider and as a
way to reduce overall costs, and develop efficiencies and innovation in commercial centers.
Fiscal Impact
There is no fiscal impact associated with the recommended actions; participation in the CEDA
program would create a voluntary mechanism for Lake Elsinore commercial entities to add energy
efficient improvements to their sites or projects thereby reducing overall costs of construction, and
provide efficiencies, sustainability and innovation to commercial plaza and centers within the city.
Attachments
Attachment 1 – Resolution CEDA PACE 2024
Attachment 2 – Associate Membership Agreement
Attachment 3 – Indemnification Agreement
Attachment 4 – WRCOG Commercial Jurisdictions
Attachment 5 – C-PACE WRCOG Benefits flyer
RESOLUTION NO. _______
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CITY OF LAKE
ELSINORE, CALIFORNIA, APPROVING ASSOCIATE MEMBERSHIP BY THE
CITY IN THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY;
AUTHORIZING AND DIRECTING THE EXECUTION OF AN ASSOCIATE
MEMBERSHIP AGREEMENT RELATING TO ASSOCIATE MEMBERSHIP OF
THE CITY IN THE AUTHORITY; AUTHORIZING THE CITY TO JOIN THE CEDA
PACE PROGRAM; AUTHORIZING THE CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY TO CONDUCT CONTRACTUAL ASSESSMENT
PROCEEDINGS AND LEVY CONTRACTUAL ASSESSMENTS WITHIN THE
TERRITORY OF THE CITY OF CITY OF LAKE ELSINORE, CALIFORNIA; AND
AUTHORIZING RELATED ACTIONS
Whereas, the City of Lake Elsinore, California, a municipal corporation and general law
city duly organized and existing under and by virtue of the Constitution and laws of the State of
California (the “City”); and
Whereas, the City, upon authorization of the City Council, may pursuant to Chapter 5 of
Division 7 of Title 1 of the Government Code of the State of California, commencing with Section
6500 (the "JPA Law") enter into a joint exercise of powers agreement with one or more other
public agencies pursuant to which such contracting parties may jointly exercise any power
common to them; and
Whereas, the City and other public agencies wish to jointly participate in economic
development financing programs for the benefit of businesses and nonprofit entities within their
jurisdictions offered by membership in the California Enterprise Development Authority (the
“Autority” or "CEDA") pursuant to an associate membership agreement and Joint Exercise of
Powers Agreement Relating to the California Enterprise Development Authority (the
“Agreement”); and
Whereas, under the JPA Law and the Agreement, CEDA is a public entity separate and
apart from the parties to the Agreement and the debts, liabilities and obligations of CEDA will not
be the debts, liabilities or obligations of the City or the other members of the Authority; and
Whereas, the form of Associate Membership Agreement (the “Associate Membership
Agreement”) between the City and CEDA is attached; and
Whereas, the City is willing to become an Associate Member of CEDA subject to the
provisions of the Associate Membership Agreement; and
Whereas, CEDA is a joint exercise of powers authority, comprised of cities and counties in
the State of California; and
Whereas, CEDA is implementing the Property Assessed Clean Energy (PACE) program,
which it has designated CEDA PACE, consisting of the CEDA PACE program each administered
by a separate program administrator (collectively with any successors assigns, replacements or
additions, the “Program” or “CEDA PACE”), to allow the financing or refinancing of certain
renewable energy, energy efficiency, seismic retrofits, electric vehicle charging infrastructure,
wildfire suppression for any portion of the City that lies within a Very High Fire Hazard Severity
Zone and water efficiency improvements (collectively, the "Improvements") through the levy of
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contractual assessments pursuant to Chapter 29 of Division 7 of the Streets & Highways Code
("Chapter 29"), and the issuance of improvement bonds or other evidences of indebtedness (the
"Bonds") under the Improvement Bond Act of 1915 (Streets and Highways Code Sections 8500
et seq.) (the "1915 Act") upon the security of the unpaid contractual assessments; and;
Whereas, Chapter 29 provides that assessments may be levied under its provisions only
with the free and willing consent of the owner of each lot or parcel on which an assessment is
levied at the time the assessment is levied; and
Whereas, the City desires to allow the owners of commercial property (“Participating
Parcel”) within its jurisdiction ("Participating Property Owners") to participate in CEDA PACE, and
to allow CEDA to conduct assessment proceedings under Chapter 29 and to issue Bonds under
the 1915 Act to finance the Improvements; and
Whereas, CEDA will conduct assessment proceedings under Chapter 29 to establish an
assessment district (the “District”) and issue Bonds under the 1915 Act to finance Improvements;
and
Whereas, there has been presented to this meeting a proposed form of Resolution of
Intention to be adopted by CEDA in connection with such assessment proceedings (the "ROI"), a
copy of which is attached hereto as Exhibit A; and
Whereas, said ROI sets forth the territory within which assessments may be levied for
CEDA PACE which territory shall be coterminous with the City's official boundaries of record at
the time of adoption of the ROI (the "Boundaries"); and
Whereas, pursuant to Chapter 29, the City authorizes CEDA to conduct assessment
proceedings, levy assessments, pursue remedies in the event of delinquencies, and issue bonds
or other forms of indebtedness to finance the Improvements in connection with CEDA PACE; and
Whereas, to protect the City in connection with operation of the CEDA PACE program,
CleanFund LLC, a program administrator, has agreed to defend and indemnify the City; and
Whereas, the City will not be responsible for the conduct of any assessment proceedings,
the levy of assessments, any required remedial action in the case of delinquencies, the issuance,
sale or administration of the bonds or other indebtedness issued in connection with CEDA PACE.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES
HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
Section 1. Findings. The City Council hereby specifically finds and declares that the
actions authorized hereby constitute public affairs of the City. The City Council further finds that
the statements, findings and determinations of the City set forth in the preambles above are true
and correct.
Section 2. Approval. The Associate Membership Agreement and Indemnification
Agreement presented to this meeting and on file with the City Clerk are hereby approved in
substantially the form presented and in such final form as approved by the City Attorney. The
Mayor of the City, the City Manager, the City Clerk and other officials of the City are each hereby
authorized and directed, for and on behalf of the City, to execute and deliver the Associate
Membership Agreement in substantially said form attached to this Resolution as Exhibit B, and
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the Indemnification Agreement in substantially said form attached to this Resolution as Exhibit C,
with such changes therein as such officer may require or approve, such approval to be
conclusively evidenced by the execution and delivery thereof.
Section 3. Authorization. The officers and officials of the City are hereby authorized
and directed, jointly and severally, to do any and all things and to execute and deliver any and all
documents which they may deem necessary or advisable in order to consummate, carry out, give
effect to and comply with the terms and intent of this resolution and the Associate Membership
Agreement. All such actions heretofore taken by such officers and officials are hereby confirmed,
ratified and approved.
Section 4. Good Standing. The City is a municipal corporation and in good standing.
Section 5. Public Benefits. On the date hereof, the City Council hereby finds and
determines that the Program and issuance of Bonds by CEDA in connection with CEDA PACE
will provide significant public benefits, including without limitation, savings in effective interest
rates, bond preparation, bond underwriting and bond issuance costs and reductions in effective
user charges levied by water and electricity providers within the boundaries of the City.
Section 6. Appointment of CEDA. The City hereby appoints CEDA as its representative
to (i) record the assessment against the Participating Parcels, (ii) administer the District in
accordance with the Improvement Act of 1915 (Chapter 29 Part 1 of Division 10 of the California
Streets and Highways Code (commencing with Section 8500 et seq.) (the “Law”), (iii) prepare
program guidelines for the operations of the Program and (iv) proceed with any claims,
proceedings or legal actions as shall be necessary to collect past due assessments on the
properties within the District in accordance with the Law and Section 6509.6 of the California
Government Code. The City is not and will not be deemed to be an agent of CleanFund LLC or
CEDA as a result of this Resolution.
Section 7. Assessment Proceedings. In connection with CEDA PACE, the City hereby
consents to the special assessment proceedings by CEDA pursuant to Chapter 29 on any
property within the Boundaries and the issuance of Bonds under the 1915 Act, provided that:
(1) Such proceedings are conducted pursuant to one or more Resolutions of Intention in
substantially the form of the ROI;
(2) The Participating Property Owners, who shall be the legal owners of such property,
voluntarily execute a contract pursuant to Chapter 29 and comply with other applicable
provisions of California law in order to accomplish the valid levy of assessments; and
(3) The City will not be responsible for the conduct of any assessment proceedings, the
levy of assessments, any required remedial action in the case of delinquencies in such
assessment payments, or the issuance, sale or administration of the Bonds in
connection with CEDA PACE.
Section 8. Program Report.The City Council hereby acknowledges that pursuant to the
requirements of Chapter 29, CEDA has prepared and will update from time to time the "Program
Report" for CEDA PACE (the "Program Report") and associated documents, and CEDA will
undertake assessment proceedings and the financing of Improvements as set forth in the
Program Report.
Section 9. Foreclosure. The City Council hereby acknowledges that the Law permits
foreclosure in the event that there is a default in the payment of assessments due on a property.
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The City Council hereby designates CEDA as its representative to proceed with collection and
foreclosure of the liens on the defaulting properties within the District, including accelerated
foreclosure pursuant to the Program Report.
Section 10. Indemnification. The City Council acknowledges that CleanFund LLC has
provided the City with an Indemnification Agreement, as shown in Exhibit C, for negligence or
malfeasance of any type as a result of the acts or omissions of CleanFund LLC, its officers,
employees, subcontractors and agents. The City Council hereby authorizes the appropriate
officials and staff of the City to execute and deliver the Indemnification Agreement to CleanFund
LLC.
Section 11. City Contact Designation. The appropriate officials and staff of the City are
hereby authorized and directed to make applications for CEDA PACE available to all property
owners who wish to finance Improvements. The following staff persons, together with any other
staff designated by the City Manager from time to time, are hereby designated as the contact
persons for CEDA in connection with CEDA PACE: Jason Simpson, City Manager, 951-674-3124
ext 204, jsimpson@lake-elsinore.org.
Section 12. CEQA. The City Council hereby finds that adoption of this Resolution is not
a "project" under the California Environmental Quality Act (“CEQA”), because the Resolution does
not involve any commitment to a specific project which may result in a potentially significant
physical impact on the environment, as contemplated by Title 14, California Code of Regulations,
Section 15378(b)(4)).
Section 13. Effective Date. This Resolution shall take effect immediately upon its
adoption. The City Clerk is hereby authorized and directed to transmit a certified copy of this
resolution to the Authority.
Section 14. Costs. Services related to the formation and administration of the
assessment district will be provided by CEDA at no cost to the City.
Passed and Adopted at a regular meeting of the City Council of the City of Lake Elsinore,
California, this 14th day of January 2025.
Brian Tisdale
Mayor
Attest:
Candice Alvarez, MMC
City Clerk
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STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that
Resolution No. 2025- was adopted by the City Council of the City of Lake Elsinore, California,
at the Regular meeting of December 10, 2024 and that the same was adopted by the following
vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Candice Alvarez, MMC
City Clerk
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EXHIBIT A
CEDA Resolution of Intention
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RESOLUTION OF THE CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
DECLARING INTENTION TO FINANCE INSTALLATION OF DISTRIBUTED GENERATION
RENEWABLE ENERGY SOURCES, ENERGY EFFICIENCY, SEISMIC RETROFITS,
ELECTRIC VEHICLE CHARING INFRASTRUCTURE, AND WATER EFFICIENCY
IMPROVEMENTS IN THE CITY OF CITY OF LAKE ELSINORE, CALIFORNIA
WHEREAS, the California Enterprise Development Authority (“CEDA”) is a joint powers
authority authorized and existing pursuant to Joint Powers Act (Government Code Section 6500
et seq.) and that certain Joint Exercise of Powers Agreement (the “Agreement”) dated as of June
1, 2006, by and among the cities of Eureka, Lancaster and Selma; and
WHEREAS, CEDA is authorized under the Agreement and Chapter 5 of Division 7 of Title
1 of the Government Code of the State of California and in accordance with Chapter 29 of Part 3
of Division 7 of the Streets & Highways Code of the State of California (“Chapter 29”) to authorize
assessments to finance the installation of certain renewable energy, energy efficiency, seismic
retrofits, electric vehicle charging infrastructure, wildfire suppression for any portion of the City
that lies within a Very High Fire Hazard Severity Zone and water efficiency improvements that are
permanently fixed to real property (“Authorized Improvements”); and
WHEREAS, CEDA has obtained authorization from the City of Lake Elsinore, California
(the “City”) to enter into contractual assessments for the financing of the installation of Authorized
Improvements in the City; and
WHEREAS, CEDA desires to declare its intention to establish a CEDA PACE program
(“CEDA PACE”) in the City, pursuant to which CEDA, subject to certain conditions set forth herein,
would enter into contractual assessments to finance the installation of Authorized Improvements
in the City.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY, AS FOLLOWS:
Section 1. Findings. The Board of Directors hereby finds and determines the following:
(a) The above recitals are true and correct and are incorporated herein by this
reference.
(b) Energy and water conservation efforts, including the promotion of Authorized
Improvements to commercial, industrial, or other real property, are necessary to
address the issue of global climate change and the reduction of greenhouse gas
emissions in the City.
(c) The upfront cost of making commercial, industrial, or other real property more
energy and water efficient, along with the fact that most commercial loans for that
purpose are due on the sale of the property, prevents many property owners from
installing Authorized Improvements.
(d) A public purpose will be served by establishing a contractual assessment program,
to be known as CEDA PACE, pursuant to which CEDA will finance the installation
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of Authorized Improvements to residential, commercial, industrial, or other real
property in the City.
Section 2. Determination of Public Interest. The Board of Directors hereby determines
that (a) it would be convenient, advantageous, and in the public interest to designate an area,
which shall encompass the entire geographic territory within the boundaries of the City, within
which CEDA and property owners within the City may enter into contractual assessments to
finance the installation of Authorized Improvements pursuant to Chapter 29 and (b) it is in the
public interest for CEDA to finance the installation of Authorized Improvements in the City
pursuant to Chapter 29.
Section 3. Identification of Authorized Improvements. CEDA hereby declares its
intention to make contractual assessment financing available to property owners to finance
installation of Authorized Improvements, including but not limited to those improvements detailed
in the Report described in Section 8 hereof (the “Report”), as that Report may be amended from
time to time.
Section 4. Identification of Boundaries. Contractual assessments may be entered into
by property owners located within the entire geographic territory of the City including
unincorporated territory within City Boundaries. A property owner located within a City within the
City may enter into contractual assessments with CEDA only after such City has adopted a
resolution to authorize participation in the PACE Program.
Section 5. Proposed Financing Arrangements. Under Chapter 29, CEDA may issue
bonds, notes or other forms of indebtedness (the “Bonds”) pursuant to Chapter 29 that are
payable by contractual assessments. Division 10 (commencing with Section 8500) of the Streets
& Highways Code of the State (the “Improvement Bond Act of 1915”) shall apply to any
indebtedness issued pursuant to Chapter 29, insofar as the Improvement Bond Act of 1915 is not
in conflict with Chapter 29. The creditworthiness of a property owner to participate in the financing
of Authorized Improvements will be based on the criteria developed by program administrators
upon consultation with the Program underwriters or other financial representatives, CEDA general
counsel and bond counsel, and as shall be approved by the Board of Directors of CEDA. In
connection with indebtedness issued under the Improvement Bond Act of 1915 that are payable
from contractual assessments, serial and/or term improvement bonds or other indebtedness shall
be issued in such series and shall mature in such principal amounts and at such times (not to
exceed 20 – 39 years from the second day of September next following their date) and at such
rate or rates of interest (not to exceed the maximum rate permitted by applicable law) as shall be
determined by the Board of Directors at the time of the issuance and sale of the indebtedness.
The provisions of Part 11.1 of the Improvement Bond Act of 1915 shall apply to the calling of the
bonds. It is the intention of the Board of Directors to create a special reserve fund for the bonds
under Part 16 of the Improvement Bond Act of 1915. Neither CEDA, nor any of its members
participating in the CEDA PACE Program, shall advance available surplus funds from its treasury
to cure any deficiency in the redemption fund to be created with respect to the indebtedness;
provided, however, that this determination shall not prevent CEDA or any of its members from, in
their sole discretion, so advancing funds. The Bonds may be refunded under Division 11.5 of the
California Streets and Highways Code or other applicable laws permitting refunding, upon the
conditions specified by and upon determination of CEDA.
CEDA hereby authorizes the program administrators, upon consultation with CEDA
general counsel, bond counsel and the CEDA PACE underwriter, to commence preparation of
documents and take necessary steps to prepare for the issuance of bonds, notes or other forms
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of indebtedness as authorized by Chapter 29.
In connection with the issuance of bonds payable from contractual assessments, CEDA
expects to obligate itself, through a covenant with the owners of the bonds, to exercise its
foreclosure rights with respect to delinquent contractual assessment installments under specified
circumstances.
Section 6. Public Hearing. Pursuant to the Act, CEDA hereby orders that a public
hearing be held before CEDA Board (the “Board”), at 2150 River Plaza Dr., Suite 275
Sacramento, California 95833, on _________, __________, at _____ A_, for the purposes of
allowing interested persons to object to, or inquire about, the proposed CEDA PACE Program.
The public hearing may be continued from time to time as determined by the Board for a time not
exceeding a total of 180 days.
At the time of the hearing, the Report described in Section 8 hereof shall be summarized,
and the Board shall afford all persons who are present an opportunity to comment upon, object
to, or present evidence with regard to the proposed CEDA PACE Program, the extent of the area
proposed to be included within the boundaries of the assessment district, the terms and conditions
of the draft assessment contract described in Section 8 hereof (the “Contract”), or the proposed
financing provisions. Following the public hearing, CEDA may adopt a resolution confirming the
Report (the “Resolution Confirming Report”) or may direct the Report’s modification in any
respect, or may abandon the proceedings.
The Board hereby orders the publication of a notice of public hearing once a week for two
successive weeks. Two publications in a newspaper published once a week or more often, with
at least five days intervening between the respective publication dates not counting such
publication dates are sufficient. The period of notice will commence upon the first day of
publication and terminate at the end of the fourteenth day. The first publication shall occur not
later than 20 days before the date of the public hearing.
Section 7. Notice to Water and Electric Providers. Pursuant to Section 5898.24 of the
Streets & Highways Code, written notice of the proposed contractual assessment program within
the City to all water and electric providers within the boundaries of the City has been provided.
Section 8. Report. The Board hereby directs the program administrators to prepare the
Report and file said Report with the Board at or before the time of the public hearing described in
Section 6 hereof containing all of the following:
(a) A map showing the boundaries of the territory within which contractual
assessments are proposed to be offered, as set forth in Section 4 hereof.
(b) A draft contractual assessment contract (the “Contract”) specifying the terms and
conditions of the agreement between CEDA and a property owner.
(c) A statement of CEDA’s policies concerning contractual assessments including all
of the following:
(1)Identification of types of Authorized Improvements that may be financed
through the use of contractual assessments.
(2)Identification of the CEDA official authorized to enter into contractual
assessments on behalf of CEDA.
(3)A maximum aggregate dollar amount of contractual assessments.
CC Reso. No. 2025-
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4910-1442-9443.1
(4)A method for setting requests from property owners for financing through
contractual assessments in priority order in the event that requests appear
likely to exceed the authorization amount.
(d) A plan for raising a capital amount required to pay for work performed in connection
with contractual assessments. The plan may include the sale of a bond or bonds
or other financing relationship pursuant to Section 5898.28 of Chapter 29. The
plan (i) shall include a statement of, or method for determining, the interest rate
and time period during which contracting property owners would pay any
assessment, (ii) shall provide for any reserve fund or funds, and (iii) shall provide
for the apportionment of all or any portion of the costs incidental to financing,
administration and collection of the contractual assessment program among the
consenting property owners and CEDA.
A report on the results of the discussions with the County Auditor-Controller described in
Section 10 hereof, concerning the additional fees, if any, that will be charged to CEDA for inclusion
of the proposed contractual assessments on the general property tax roll of the City, and a plan
for financing the payment of those fees.
Section 9. Nature of Assessments. Assessments levied pursuant to Chapter 29, and
the interest and any penalties thereon, will constitute a lien against the lots and parcels of land on
which they are made, until they are paid. Unless otherwise directed by CEDA, the assessments
shall be collected in the same manner and at the same time as the general taxes of the City on
real property are payable, and subject to the same penalties and remedies and lien priorities in
the event of delinquency and default.
Section 10. Consultations with County Auditor-Controller. CEDA hereby directs the
program administrators to enter into discussions with the County Auditor-Controller in order to
reach agreement on what additional fees, if any, will be charged to CEDA for incorporating the
proposed contractual assessments into the assessments of the general taxes of the County on
real property.
Section 11. Preparation of Current Roll of Assessment. Pursuant to Section
5898.24(c), CEDA hereby designates the program administrators as the responsible party for
annually preparing the current roll of assessment obligations by assessor’s parcel number on
property subject to a voluntary contractual assessment.
Section 12. Procedures for Responding to Inquiries. The program administrators
shall establish procedures to promptly respond to inquiries concerning current and future
estimated liability for a voluntary contractual assessment.
Section 13. Effective Date. This resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this _____ day of ______, 20___.
CC Reso. No. 2025-
Page 5 of 18
A-5
4910-1442-9443.1
CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY
By:____________________________
Gurbax Sahota, Chair
ATTEST:
______________________________________
Helen Schaubmayer, Assistant Secretary
CC Reso. No. 2025-
Page 1 of 18
B-1
4910-1442-9443.1
EXHIBIT B
Associate Membership Agreement
CC Reso. No. 2025-
Page 2 of 18
B-2
4910-1442-9443.1
ASSOCIATE MEMBERSHIP AGREEMENT
by and between the
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
and the
CITY OF LAKE ELSINORE
THIS ASSOCIATE MEMBERSHIP AGREEMENT (this “Associate Membership
Agreement”), dated as of ______________, 2024 by and between CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY (the “Authority”) and the CITY OF LAKE ELSINORE,
CALIFORNIA, a municipal corporation and general law city duly organized and existing under and
by virtue of the Constitution and laws of the State of California;
WITNESSETH:
WHEREAS, the Cities of Selma, Lancaster and Eureka (individually, a “Member” and
collectively, the “Members”), have entered into a Joint Exercise of Powers Agreement, dated as
of June 1, 2006 (the “Agreement”), establishing the Authority and prescribing its purposes and
powers; and
WHEREAS, the Agreement designates the Executive Committee of the Board of Directors
and the President of the California Association for Local Economic Development as the Board of
Directors of the Authority; and
WHEREAS, the Authority has been formed for the purpose, among others, to assist for
profit and nonprofit corporations and other entities to obtain financing for projects and purposes
serving the public interest; and
WHEREAS, the Agreement permits any other local agency in the State of California to
join the Authority as an associate member (an “Associate Member”); and
WHEREAS, the City desires to become an Associate Member of the Authority; and
WHEREAS, the City Council of the City has adopted a resolution approving the Associate
Membership Agreement and the execution and delivery thereof; and
WHEREAS, the Board of Directors of the Authority has determined that the City should
become an Associate Member of the Authority;
NOW, THEREFORE, in consideration of the above premises and of the mutual promises
herein contained, the Authority and the City do hereby agree as follows:
Section 1. Associate Member Status. The City is hereby made an Associate Member of
the Authority for all purposes of the Agreement and the Bylaws of the Authority, the provisions of
which are hereby incorporated herein by reference. From and after the date of execution and
delivery of this Associate Membership Agreement by the City and the Authority, the City shall be
and remain an Associate Member of the Authority.
CC Reso. No. 2025-
Page 3 of 18
B-3
4910-1442-9443.1
Section 2. Restrictions and Rights of Associate Members. The City shall not have the
right, as an Associate Member of the Authority, to vote on any action taken by the Board of
Directors or by the Voting Members of the Authority.
Section 3. Effect of Prior Authority Actions. The City hereby agrees to be subject to and
bound by the Agreement and the Bylaws of the Authority.
Section 4. No Obligations of Associate Members. The debts, liabilities and obligations
of the Authority shall not be the debts, liabilities and obligations of the City.
Section 5. Execution of the Agreement. Execution of this Associate Membership
Agreement shall satisfy the requirements of the Agreement and Article XII of the Bylaws of the
Authority for participation by the City in all programs and other undertakings of the Authority.
IN WITNESS WHEREOF, the parties hereto have caused this Associate Membership
Agreement to be executed and attested by their proper officers thereunto duly authorized, on the
day and year first set forth above.
CALIFORNIA ENTERPRISE DEVELOPMENT
AUTHORITY
By
Gurbax Sahota
Chair of the Board of Directors
Attest:
By
Michelle Stephens, Assistant Secretary
CITY OF LAKE ELSINORE:
________, Mayor
Attest:
By
____________, City Clerk
Approved as to form:
By
, City Attorney
4910-1442-9443.1
EXHIBIT C
Indemnification Agreement
CC Reso. No. 2025-
Page 2 of 18
2
4910-1442-9443.1
INDEMNIFICATION AGREEMENT
BY AND BETWEEN
THE CITY OF LAKE ELSINORE AND
CLEANFUND LLC
This Indemnification Agreement (the “Agreement”) is entered into by and between the City of
Lake Elsinore, California, a municipal corporation or political subdivision, duly organized and
existing under the laws of the State of California (the “City”) and CleanFund LLC, a Delaware
corporation, the administrator of the CEDA Property Assessed Clean Energy and Job Creation
Program (the “Administrator”), which is a program of the California Enterprise Development
Authority, a California joint exercise of powers authority (the “Authority”).
RECITALS
WHEREAS, the Authority is a joint exercise of powers authority whose members include
the City in addition to other cities and counties in the State of California; and
WHEREAS, the Authority established the CEDA PACE Program (the “CEDA PACE
Program”) to allow the financing the installation of certain renewable energy, energy efficiency,
seismic retrofits, electric vehicle charging infrastructure, wildfire suppression for any portion of
the City that lies within a Very High Fire Hazard Severity Zone and water efficiency
improvements that are permanently fixed to real property through the levy of assessments
voluntarily agreed to by the participating property owners pursuant to Chapter 29 of Division 7
of the Streets and Highways Code (“Chapter 29”) and the issuance of improvement bonds, or
other forms of indebtedness, under the Improvement Bond Act of 1915 upon the security of the
unpaid assessments; and
WHEREAS, the Authority has conducted or will conduct proceedings required by Chapter
29 with respect to the territory within the boundaries of the City; and
WHEREAS, the legislative body of the City adopted or will adopt a resolution authorizing
the City to join the CEDA PACE Program; and
WHEREAS, the City will not be responsible for the formation, operation and administration
of the CEDA PACE Program as well as the sale and issuance of any bonds or other forms of
indebtedness in connection therewith, including the conducting of assessment proceedings, the
levy and collection of assessments and any remedial action in the case of such assessment
payments, and the offer, sale and administration of any bonds issued by the Authority on behalf
of the CEDA PACE Program; and
WHEREAS, the Administrator is an administrator of the CEDA PACE Program and agrees
to indemnify the City in connection with the operations of the CEDA PACE Program as set forth
herein;
NOW, THERFORE, in consideration of the above premises and of the City’s agreement
to join the CEDA PACE Program, the parties agree as follows:
CC Reso. No. 2025-
Page 3 of 18
3
4910-1442-9443.1
1 . Indemnification. The Administrator has provided CEDA with an indemnification
for negligence or malfeasance of any type as a result of the acts or omissions of the
Administrator, its officers, employees, subcontractors and agents, arising from or related to the
Administrator PACE Program, the assessments, the assessment districts, the improvements or
the financing and marketing thereof. The Administrator agrees to defend, indemnify and hold
harmless the City, its officers, elected or appointed officials, employees, agents and volunteers
from and against any and all actions, suits, proceedings, claims, demands, losses, costs and
expenses, including legal costs and attorneys’ fees, for injury or damage due to negligence or
malfeasance of any type claims as a result of the acts or omissions of the Administrator, except
for such loss or damage which was caused by the sole negligence or willful misconduct of the
City. This indemnity shall apply to all claims and liability regardless of whether any insurance
policies are applicable. The policy limits do not act as limitation upon the amount of
indemnification to be provided by the Administrator.
2. Amendment/Interpretation of this Agreement. This Agreement represents the
entire understanding of the parties as to those matters contained herein. No prior oral or written
understanding shall be of any force or effect with respect to those matters covered hereunder.
No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. This Agreement shall not be interpreted for or against
any party by reason of the fact that such party may have drafted this Agreement or any of its
provisions.
3. Section Headings. Section headings in this Agreement are included for
convenience of reference only and shall not constitute a part of this Agreement for any other
purpose.
4. Waiver. No waiver of any of the provisions of this Agreement shall be binding
unless in the form of writing signed by the party against whom enforcement is sought, and no
such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor
shall such waiver constitute a continuing waiver. Except as specifically provided herein, no
failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a
waiver thereof.
5. Severability and Governing Law. If any provision or portion thereof of this
Agreement shall be held by a court of competent jurisdiction to be invalid, void, or otherwise
unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted
by law. This Agreement shall be governed by and construed and enforced in accordance with
the laws of the State of California applicable to contracts made and to be performed in California.
6. Notices. All notices, demands and other communications required or permitted
hereunder shall be made in writing and shall be deemed to have been duly given if delivered by
hand, against receipt, or mailed certified or registered mail and addressed as follows:
If to the Administrator CleanFund LLC
5695 Castle Dr.
Oakland, California 94611
Attn: Chief Executive Officer
CC Reso. No. 2025-
Page 4 of 18
4
4910-1442-9443.1
If to the City: _______________________________________
_______________________________________
_______________________________________
_______________________________________
7. Counterparts. This Agreement may be executed in one or more counterparts,
each of which shall be deemed to be an original, which together shall constitute the same
instrument.
8. Effective Date. This Agreement will be effective as of the date of the signature of
City’s representative as indicated below in the signature block.
IN WITNESS HEREOF, the parties hereto duly executed this Agreement as of the date below.
APPROVED AS TO FORM:
City Attorney
City of Lake Elisinore
By
Name:
Title:
Date:
CleanFund LLC
By
Name:
Title:
Date:
4880-9407-2374.2
ASSOCIATE MEMBERSHIP AGREEMENT
by and between the
CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY
and the
CITY OF LAKE ELSINORE
THIS ASSOCIATE MEMBERSHIP AGREEMENT (this “Associate Membership
Agreement”), dated as of September 10, 2024, by and between CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY (the “Authority”) and the CITY OF LAKE ELSINORE, a
California municipal corporation, duly organized and existing under the laws of the State of
California (the “City”);
WITNESSETH:
WHEREAS, the Cities of Selma, Lancaster and Eureka (individually, a “Member” and
collectively, the “Members”), have entered into a Joint Powers Agreement, dated as of June 1,
2006 (the “Agreement”), establishing the Authority and prescribing its purposes and powers; and
WHEREAS, the Agreement designates the Executive Committee of the Board of Directors
and the President of the California Association for Local Economic Development as the initial
Board of Directors of the Authority; and
WHEREAS, the Authority has been formed for the purpose, among others, to assist for
profit and nonprofit corporations and other entities to obtain financing for projects and purposes
serving the public interest; and
WHEREAS, the Agreement permits any other local agency in the State of California to
join the Authority as an associate member (an “Associate Member”); and
WHEREAS, the City desires to become an Associate Member of the Authority; and
WHEREAS, Council of the City has adopted a resolution approving the Associate
Membership Agreement and the execution and delivery thereof; and
WHEREAS, the Board of Directors of the Authority has determined that the City should
become an Associate Member of the Authority;
NOW, THEREFORE, in consideration of the above premises and of the mutual promises
herein contained, the Authority and the City do hereby agree as follows:
2
4880-9407-2374.2
3
7
8
2
1
Section 1. Associate Member Status. The City is hereby made an Associate Member of
the Authority for all purposes of the Agreement and the Bylaws of the Authority, the provisions
of which are hereby incorporated herein by reference. From and after the date of execution and
delivery of this Associate Membership Agreement by the City and the Authority, the City shall be
and remain an Associate Member of the Authority.
Section 2. Restrictions and Rights of Associate Members. The City shall not have the
right, as an Associate Member of the Authority, to vote on any action taken by the Board of
Directors or by the Voting Members of the Authority. In addition, no officer, employee or
representative of the City shall have any right to become an officer or director of the Authority.
Section 3. Effect of Prior Authority Actions. The City hereby agrees to be subject to and
bound by the Agreement and the Bylaws of the Authority.
Section 4. No Obligations of Associate Members. The debts, liabilities and obligations of
the Authority shall not be the debts, liabilities and obligations of the City.
Section 5. Execution of the Agreement. Execution of this Associate Membership
Agreement shall satisfy the requirements of the Agreement and Article XII of the Bylaws of the
Authority for participation by the City in all programs and other undertakings of the Authority.
3
4880-9407-2374.2
3
7
8
2
1
IN WITNESS WHEREOF, the parties hereto have caused this Associate Membership
Agreement to be executed and attested by their proper officers thereunto duly authorized, on the
day and year first set forth above.
CALIFORNIA ENTERPRISE
DEVELOPMENT AUTHORITY
By
Gurbax Sahota, Chair of the
Board of Directors
Attest:
By
Michelle Stephens, Assistant Secretary
CITY OF LAKE ELSINORE
By
Brian Tisdale, Mayor
Attest:
By
City Clerk
Approved as to Form:
By
City Attorney
By
Assistant City Manager
INDEMNIFICATION AGREEMENT
BY AND BETWEEN
THE CITY OF LAKE ELSINORE AND
CLEANFUND LLC.
This Indemnification Agreement (the “Agreement”) is entered into by and between the City of
Lake Elsinore, a municipal corporation or political subdivision, duly organized and existing under
the laws of the State of California (the “Public Entity”) and CleanFund LLC., a Delaware public
benefit corporation (“CleanFund”), the administrator of the CleanFund Property Assessed
Clean Energy and Job Creation Program (the “Administrator”), which is a program of the
California Enterprise Development Authority, a California joint exercise of powers authority (the
“Authority”).
RECITALS
WHEREAS, the Authority is a joint exercise of powers authority whose members include the
Public Entity in addition to other cities and counties in the State of California; and
WHEREAS, the Authority established the CleanFund Property Assessed Clean Energy and
Job Creation Program (the “CleanFund PACE Program”) to allow the financing of certain
renewable energy, energy and water efficiency improvements, seismic strengthening, electric
vehicle charging infrastructure, and wildfire suppression and safety improvements that are
permanently affixed to real property through the levy of assessments voluntarily agreed to by
the participating property owners pursuant to Chapter 29 of Division 7 of the Streets and
Highways Code (“Chapter 29”) and the issuance of improvement bonds, or other forms of
indebtedness, under the Improvement Bond Act of 1915 upon the security of the unpaid
assessments; and WHEREAS, the Authority has conducted or will conduct proceedings
required by Chapter 29 with respect to the territory within the boundaries of the Public Entity;
and
WHEREAS, the legislative body of the Public Entity adopted or will adopt a resolution
authorizing the Public Entity to join the CleanFund PACE Program; and
WHEREAS, the Public Entity will not be responsible for the formation, operation and
administration of the CleanFund PACE Program as well as the sale and issuance of any bonds
or other forms of indebtedness in connection therewith, including the conducting of assessment
proceedings, the levy and collection of assessments and any remedial action in the case of
such assessment payments, and the offer, sale and administration of any bonds issued by the
Authority on behalf of the CleanFund PACE Program; and
WHEREAS, the Administrator is the administrator of the CleanFund PACE Program and agrees
to indemnify the Public Entity in connection with the operations of the CleanFund PACE
Program as set forth herein;
NOW, THERFORE, in consideration of the above premises and of the Public Entity’s
agreement to join the CleanFund C-PACE Program, the parties agree as follows:
1 . Indemnification. CleanFund has provided the CEDA with an indemnification for negligence
or malfeasance of any type as a result of the acts or omissions of Dividend, its officers,
employees, subcontractors and agents, arising from or related to the CleanFund C-PACE
Program, the assessments, the assessment districts, the improvements or the financing and
marketing thereof. CleanFund agrees to defend, indemnify and hold harmless the Public Entity,
its officers, elected or appointed officials, employees, agents and volunteers from and against
any and all actions, suits, proceedings, claims, demands, losses, costs and expenses, including
legal costs and attorneys’ fees, for injury or damage due to negligence or malfeasance of any
type claims as a result of the acts or omissions of Clean Fund, except for such loss or damage
which was caused by the sole negligence or willful misconduct of the Public Entity. This
indemnity shall apply to all claims and liability regardless of whether any insurance policies are
applicable. The policy limits do not act as limitation upon the amount of indemnification to be
provided by CleanFund.
2. Amendment/Interpretation of this Agreement. This Agreement represents the entire
understanding of the parties as to those matters contained herein. No prior oral or written
understanding shall be of any force or effect with respect to those matters covered hereunder.
No supplement, modification or amendment of this Agreement shall be binding unless executed
in writing by both of the parties hereto. This Agreement shall not be interpreted for or against
any party by reason of the fact that such party may have drafted this Agreement or any of its
provisions.
3. Section Headings. Section headings in this Agreement are included for convenience of
reference only and shall not constitute a part of this Agreement for any other purpose.
4. Waiver. No waiver of any of the provisions of this Agreement shall be binding unless in the
form of writing signed by the party against whom enforcement is sought, and no such waiver
shall operate as a waiver of any other provisions hereof (whether or not similar), nor shall such
waiver constitute a continuing waiver. Except as specifically provided herein, no failure to
exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver
thereof.
5. Severability and Governing Law. If any provision or portion thereof of this Agreement shall
be held by a court of competent jurisdiction to be invalid, void, or otherwise unenforceable, the
remaining provisions shall remain enforceable to the fullest extent permitted by law. This
Agreement shall be governed by and construed and enforced in accordance with the laws of the
State of California applicable to contracts made and to be performed in California.
6. Notices. All notices, demands and other communications required or permitted hereunder
shall be made in writing and shall be deemed to have been duly given if delivered by hand,
against receipt, or mailed certified or registered mail and addressed as follows:
If to the Administrator CleanFund LLC
5695 Castle Drive
Oakland, CA, 94611
Attn: John.Kinney@CleanFund.com
If to the Public Entity: City of Lake Elsinore
130 Main Street
Lake Elsinore, CA 92530
Attn: City Manager
7. Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original, which together shall constitute the same instrument.
8. Effective Date. This Agreement will be effective as of the date of the signature of Public
Entity’s representative as indicated below in the signature block.
IN WITNESS HEREOF, the parties hereto duly executed this Agreement as of the date below.
APPROVED AS TO FORM:
_____________________________
Barbara Liebold,
City Attorney
City of Lake Elsinore
By _____________________________
Name: Jason Simpson
Title: City Manager
Date: _____________________________
CleanFund LLC., a Delaware public benefit corporation
By _____________________________
Name: John Kinney
Title: Managing Partner
WRCOG- Jurisdictions Launched
1 Alameda County Unincorporated Alameda
2 Albany Alameda
3 Alhambra Los Angeles
4 Aliso Viejo Orange
5 Amador Amador
6 Amador County Unincorporated Amador
7 American Canyon Napa
8 Anaheim Orange
9 Antioch Contra Costa
10 Arcadia Los Angeles
11 Arcata Humboldt
12 Arvin Kern
13 Atherton (Town of) San Mateo
14 Atwater Merced
15 Avalon (Commercial Only) Los Angeles
16 Avenal Kings
17 Azusa Los Angeles
19 Baldwin Park Los Angeles
20 Beaumont Riverside
21 Bell Gardens (Commercial Only) Los Angeles
22 Bellflower Los Angeles
23 Belmont San Mateo
24 Belvedere Marin
25 Benicia Solano
26 Berkeley Alameda
27 Bishop Inyo
28 Blue Lake Humboldt
29 Blythe Riverside
30 Bradbury Los Angeles
31 Brawley Imperial
32 Brea Orange
33 Brentwood Contra Costa
34 Brisbane San Mateo
35 Buena Park Orange
36 Burlingame San Mateo
37 Butte County Unincorporated (Residential Only) Butte
38 Calabasas (Commercial Only) Los Angeles
39 Calexico Imperial
40 California City Kern
Launched Jurisdictions
41 Calipatria Imperial
42 Calistoga Napa
43 Camarillo Ventura
44 Campbell Santa Clara
45 Capitola Santa Cruz
46 Carlsbad San Diego
47 Carmel Monterey
48 Carson Los Angeles
49 Cathedral City Riverside
50 Ceres Stanislaus
51 Chico Butte
52 Chowchilla Madera
53 Chula Vista San Diego
54 Citrus Heights Sacramento
55 Claremont Los Angeles
56 Clayton Contra Costa
57 Cloverdale Sonoma
58 Clovis Fresno
59 Coachella Riverside
60 Coalinga Fresno
61 Colma (Town of) San Mateo
62 Colusa County Unincorporated Colusa
63 Commerce Los Angeles
64 Concord Contra Costa
65 Contra Costa County Unincorporated Contra Costa
66 Corcoran Kings
67 Corning Tehama
68 Coronado San Diego
69 Costa Mesa Orange
70 Cotati Sonoma
71 Covina Los Angeles
72 Crescent City Del Norte
73 Cupertino Santa Clara
74 Cypress Orange
75 Daly City San Mateo
76 Danville Contra Costa
77 Davis Yolo
78 Del Mar San Diego
79 Del Norte County Unincorporated Del Norte
80 Del Rey Oaks Monterey
81 Delano Kern
82 Desert Hot Springs Riverside
83 Diamond Bar Los Angeles
84 Dinuba Tulare
85 Dixon Solano
86 Dorris Siskiyou
87 Dos Palos Merced
88 Dublin Alameda
89 Dunsmuir Siskiyou
90 El Cajon San Diego
91 El Centro Imperial
92 El Cerrito Contra Costa
93 El Dorado County Unincorporated El Dorado
94 El Monte Los Angeles
95 El Segundo Los Angeles
96 Elk Grove Sacramento
97 Encinitas San Diego
98 Escondido San Diego
99 Etna Siskiyou
100 Eureka Humboldt
101 Exeter Tulare
102 Fairfax Marin
103 Fairfield Solano
104 Farmersville Tulare
105 Ferndale Humboldt
106 Fillmore Ventura
107 Firebaugh Fresno
108 Fort Bragg Mendocino
109 Fortuna Humboldt
110 Foster City San Mateo
111 Fountain Valley Orange
112 Fowler Fresno
113 Fremont Alameda
114 Fresno Fresno
115 Fresno County Unincorporated Fresno
116 Galt Sacramento
117 Garden Grove Orange
118 Gardena Los Angeles
119 Gilroy Santa Clara
120 Glendora Los Angeles
121 Glenn County Unincorporated Glenn
122 Gonzales Monterey
123 Grass Valley Nevada
124 Greenfield Monterey
125 Grover Beach SLO
126 Gustine Merced
127 Half Moon Bay San Mateo
128 Hanford Kings
129 Hawthorne Los Angeles
130 Hayward Alameda
131 Healdsburg Sonoma
132 Hermosa Beach Los Angeles
133 Hillsborough San Mateo
134 Holtville Imperial
135 Hughson Stanislaus
136 Humboldt County Unincorporated Humboldt
137 Huntington Beach Orange
138 Huron Fresno
139 Imperial Imperial
140 Imperial Beach San Diego
141 Imperial County Unincorporated Imperial
142 Indian Wells Riverside
143 Indio Riverside
144 Industry Los Angeles
145 Inglewood Los Angeles
146 Ione Amador
147 Irwindale Los Angeles
148 Isleton Sacramento
149 Jackson Amador
150 Kerman Fresno
152 King City Monterey
153 Kings County Unincorporated Kings
154 Kingsburg Fresno
155 La Canada Flintridge Los Angeles
156 La Habra Orange
157 La Mesa San Diego
158 La Palma Orange
159 La Quinta Riverside
160 La Verne Los Angeles
161 Lafayette Contra Costa
162 Laguna Beach Orange
163 Laguna Hills Orange
164 Lake Forest Orange
165 Lancaster Los Angeles
166 Larkspur Marin
167 Lathrop San Joaquin
168 Lawndale Los Angeles
169 Lemon Grove San Diego
170 Lemoore Kings
171 Lindsay Tulare
172 Live Oak Sutter
173 Livingston Merced
174 Lodi San Joaquin
175 Lomita Los Angeles
176
177 Long Beach Los Angeles
178 Los Banos Merced
179 Loyalton Sierra
180 Madera Madera
181 Madera County Unincorporated Madera
182 Malibu Los Angeles
183 Mammoth Lakes Mono
184 Manteca San Joaquin
185 Marin County Unincorporated Marin
186 Mariposa County Unincorporated Mariposa
187 Martinez Contra Costa
188 Marysville Yuba
189 McFarland Kern
190 Mendocino County Unincorporated Mendocino
191 Mendota Fresno
192 Menlo Park San Mateo
193 Merced Merced
194 Merced County Unincorporated Merced
195 Mill Valley Marin
196 Millbrae San Mateo
197 Mission Viejo Orange
198 Modesto Stanislaus
199 Mono County Unincorporated Mono
200 Monrovia Los Angeles
201 Montebello Los Angeles
202 Monterey Monterey
203 Monterey County Unincorporated Monterey
204 Monterey Park Los Angeles
205 Moorpark Ventura
206 Moraga Contra Costa
207 Morgan Hill Santa Clara
208 Morro Bay SLO
209 Mount Shasta Siskiyou
210 Mountain View Santa Clara
211 Napa Napa
212 Napa County Unincorporated Napa
213 National City San Diego
214 Nevada City Nevada
215 Newark Alameda
216 Newman Stanislaus
217 Newport Beach Orange
218 Novato Marin
219 Oakdale Stanislaus
220 Oakland Alameda
221 Oakley Contra Costa
222 Oceanside San Diego
223 Ojai Ventura
224 Orange Cove Fresno
225 Orland Butte
226 Oroville Butte
227 Oxnard Ventura
228 Pacific Grove Monterey
229 Pacifica San Mateo
230 Palm Desert Riverside
231 Palm Springs Riverside
232 Palmdale Los Angeles
233 Paradise Butte
234 Parlier Fresno
235 Paso Robles SLO
236 Patterson Stanislaus
237 Piedmont Alameda
238 Pinole Contra Costa
239 Pittsburg Contra Costa
240 Placentia Orange
241 Placerville El Dorado
242 Pleasant Hill Contra Costa
243 Plymouth Amador
244 Point Arena Mendocino
245 Pomona Los Angeles
246 Port Hueneme Ventura
247 Porterville Tulare
248 Portola Valley San Mateo
249 Poway San Diego
250 Rancho Cordova Sacramento
251 Rancho Mirage Riverside
252 Rancho Palos Verdes Los Angeles
253 Rancho Santa Margarita Orange
254 Redding Shasta
255 Redondo Beach Los Angeles
256 Redwood City San Mateo
257 Reedley Fresno
258 Richmond Contra Costa
260 Rio Vista Solano
261 Ripon San Joaquin
262 Riverbank Stanislaus
263 Riverside County Eastern Uncorporated Riverside
264 Rohnert Park Sonoma
265 Rolling Hills Los Angeles
266 Rolling Hills Estates Los Angeles
267 Rosemead Los Angeles
268 Sacramento Sacramento
269 Sacramento County Unincorporated Sacramento
270 Salinas Monterey
271 San Anselmo Marin
272 San Bruno San Mateo
273 San Buenaventura Ventura
274 San Carlos San Mateo
275 San Clemente Orange
276 San Diego San Diego
277 San Diego County Unincorporated San Diego
278 San Dimas Los Angeles
279 San Fernando Los Angeles
280 San Francisco San Francisco
281 San Gabriel Los Angeles
282 San Joaquin Fresno
283 San Joaquin County Unincorporated San Joaquin
284 San Jose Santa Clara
285 San Juan Bautista San Benito
286 San Leandro Alameda
287 San Luis Obispo SLO
288 San Luis Obispo County Unincorporated SLO
289 San Marcos San Diego
290 San Marino Los Angeles
291 San Mateo San Mateo
292 San Mateo County Unincorporated San Mateo
293 San Pablo Contra Costa
294 San Rafael Marin
295 San Ramon Contra Costa
296 Sand City Monterey
297 Sanger Fresno
298 Santa Ana Orange
299 Santa Clara Santa Clara
300 Santa Cruz Santa Cruz
301 Santa Cruz County Unincorporated Santa Cruz
302 Santa Monica Los Angeles
303 Santa Paula Ventura
304 Santa Rosa Sonoma
305 Santee San Diego
306 Sausalito Marin
307 Scotts Valley Santa Cruz
308 Seaside Monterey
309 Sebastopol Sonoma
310 Selma Fresno
311 Shafter Kern
312 Shasta County Unincorporated Shasta
313 Shasta Lake Shasta
314 Sierra Madre Los Angeles
315 Simi Valley Ventura
316 Siskiyou County Unincorporated Siskiyou
317 Solana Beach San Diego
318 Solano County Unincorporated Solano
319 Sonoma Sonoma
320 Sonoma County Unincorporated Sonoma
321 South El Monte Los Angeles
322 South Lake Tahoe El Dorado
323 South Pasadena Los Angeles
324 South San Francisco San Mateo
325 St. Helena Napa
326 Stanton Orange
327 Stockton San Joaquin
328 Suisun City Solano
329 Sutter Creek Amador
330 Taft Kern
331 Tehachapi Kern
332 Tehama Tehama
333 Tehama County Unincorporated Tehama
334 Temple City Los Angeles
335 Thousand Oaks Ventura
336 Tiburon Marin
337 Torrance Los Angeles
338 Tracy San Joaquin
339 Trinidad Humboldt
340 Tulare (City of) Tulare
341 Tulare County Unincorporated Tulare
342 Turlock Stanislaus
343 Tustin Orange
344 Ukiah Mendocino
345 Union City Alameda
346 Vacaville Solano
347 Vallejo Solano
349 Vista San Diego
350 Walnut Los Angeles
351 Walnut Creek Contra Costa
352 Wasco Kern
353 Waterford Stanislaus
354 Watsonville Santa Cruz
355 Weed Siskiyou
356 West Covina Los Angeles
357 West Sacramento Yolo
358 Westminster Orange
359 Wheatland Yuba
360 Windsor Sonoma
361 Winters Yolo
362 Woodlake Tulare
363 Woodland Yolo
364 Woodside San Mateo
365 Yolo County Unincorporated Yolo
366 Yorba Linda Orange
367 Yountville Napa
368 Yreka Siskiyou
369 Yuba City Sutter
370 Yuba County Unincorporated Yuba
371 1. City of Banning Riverside - WRCOG Sub Region
372 2. City of Beaumont Riverside - WRCOG Sub Region
373 3. City of Calimesa Riverside - WRCOG Sub Region
374 4. City of Canyon Lake Riverside - WRCOG Sub Region
375 5. City of Corona Riverside - WRCOG Sub Region
376 6. City of Eastvale Riverside - WRCOG Sub Region
377 7. City of Hemet Riverside - WRCOG Sub Region
378 8. City of Jurupa Valley Riverside - WRCOG Sub Region
379 9. City of Lake Elsinore Riverside - WRCOG Sub Region
380 10. City of Menifee Riverside - WRCOG Sub Region
381 11. City of Moreno Valley Riverside - WRCOG Sub Region
382 12. City of Murrieta Riverside - WRCOG Sub Region
383 13. City of Norco Riverside - WRCOG Sub Region
384 14. City of Perris Riverside - WRCOG Sub Region
385 15. City of Riverside Riverside - WRCOG Sub Region
386 16. City of San Jacinto Riverside - WRCOG Sub Region
387 17. City of Temecula Riverside - WRCOG Sub Region
388 18. City of Wildomar Riverside - WRCOG Sub Region
WESTERN RIVERSIDE COUNCIL OF GOVERNMENTS
COMMERCIAL PACE
Property Assessed Clean Energy (PACE) programs offer property owners fi nancing options
for energy effi ciency, water conservation, and seismic strengthening improvements.
www.wrcog.us
C-PACE BENEFITS
ELIGIBLE IMPROVEMENTS
»Funding for up to 20% of construction costs
»Financing is tied to the property
»New construction is eligible for up to 30-year fi nancing term
»Refi nancing look back option
PACE can be used to refi nance previously installed
eligible products, going back 3 years
»On average, lower interest rate than other mezzanine fi nancing
»No upfront costs
»Frees up equity
»Renewable energy systems
»Water conservation/effi ciency
»Energy effi ciency
HVAC, windows, roof, lighting, automated controls
»Seismic strengthening
»Fire hardening
»Approved custom eligible products
Energy management systems, battery storage, electric vehicle charging
PROPERTY ELIGIBILITY
»Property cannot be in default
»Property must be current on property taxes
»Total fi
market value C-PACE HIGHLIGHTS
CASE STUDY
Casey Dailey, Director of Energy & Environmental Programs
cdailey@wrcog.us - (951)405-6720
nanced amount must not exceed 20-35%* of the property market
value *Limitations are dependent upon the provider
»Annual property tax and assessments cannot exceed 5% of the property’s
»West Coast Exotic Cars in Murrieta
$2.9 Million in C-PACE Financing
» Hotel Cerro in San Luis Obispo
$10 Million in C-PACE Financing
»Pullman Lofts in Santa Rosa
$8.6 Million in C-PACE Financing