Municipalities: Step 2

.<Back to Step 1                                                 Forward to Step 3>

IlanasGraphicSMSTEP 2: Familiarize yourself with the law, the programs and choices available, and determine what you wish to achieve by adopting a local PACE program.

If you want to use a minimum of your municipality’s time and resources, follow Path A.

If you want to use PACE as part of a concerted economic development strategy, follow Path B.

If you want to leverage PACE to make your entire community more regenerative and resilient, follow Path C.

 


.
Step 2A: Read this summary of the proposed legislation:

As amended, this bill authorizes municipalities to facilitate private financing of water conservation, storm shelter construction, and flood and hurricane resistance projects through the use of voluntary special assessments, thereby expanding the “clean energy special assessment,” established by P.L.2011, c.187 (C.40:56-1.4 et al.), and renaming it the “PACE special assessment,” to utilize a concise acronym for the term”property assessed clean energy.” ….

Under the bill, water conservation projects, flood resistant construction projects, hurricane resistant construction projects, storm shelter projects, and safe room projects are also eligible for a “PACE special assessment.” 

To implement this approach, use the basic version of the Model Ordinance [PDF, editable Word document here], along with our draft Administration Agreement.

Top

Then proceed to Step 3….

.


 

 

Step 2B: To make the best use of PACE in a strategy for economic development, including local jobs, business attraction and retention, etc. we recommend the following:

  • Read the Synopsis, the Preamble, and the relevant parts of A2579/S1510:

SYNOPSIS: Authorizes municipalities to facilitate private financing of water conservation, storm shelter construction, and flood and hurricane resistance projects through use of voluntary special assessments.

(Note: The original legislation established the “New Jersey Property Assessment Clean Energy (NJ PACE) Municipal Financing Program,” and covered energy conservation measures and renewables. The new bill amended this statute (PL 2011, Ch.187) to incorporate the resiliency measures listed above.)

  • The Preamble to the amending legislation states:

The Legislature finds and declares it to be the public policy of this State that:

a. The implementation of and investing in energy and water efficiency improvements to, and flood and hurricane mitigation projects for existing properties is a critical component in conserving natural resources and mitigating the effects of floods and hurricanes, and is financially beneficial over time; upfront costs are a barrier to major energy improvements;

b. PACE legislation provides an innovative way for property 20 owners to finance energy and water efficiency improvements which, in turn, result in homeowners saving a significant sum in energy costs and which also help communities create local jobs, result in lower mortgage foreclosures, and stimulate local economics and lower emissions; and

c. PACE financing will allow New Jersey municipalities to contribute in order to help meet community sustainability, greenhouse gas emissions reductions, and energy goals, and will provide a valuable service to the citizens of their communities.

  • And here’s a quick summary of the key parts of the law as they apply to the municipality’s powers:

As amended, this bill authorizes municipalities to facilitate private financing of water conservation, storm shelter construction, and flood and hurricane resistance projects through the use of voluntary special assessments, thereby expanding the “clean energy special assessment,” established by P.L.2011, c.187 (C.40:56-1.4 et al.), and renaming it the “PACE special assessment,” to utilize a concise acronym for the term”property assessed clean energy.” ….

Under the bill, water conservation projects, flood resistant construction projects, hurricane resistant construction projects, storm shelter projects, and safe room projects are also eligible for a “PACE special assessment.” 

To establish the program you can use our Model Ordinance, along with our draft Participation Agreement. In addition, you may want to development a statement of purposes to be included in the Ordinance and/or in the Resolution, to spell out your economic development goals.

Finally, New Jersey PACE can also assist you in developing your economic development strategies; contact us for more details.

Top

Then proceed to Step 3….

.

 

Step 2C: To leverage PACE to make your entire community more regenerative and resilient, we recommend you work with us to develop the level of community engagement needed to make a regenerative design successful.

This step builds on the elements of Step 2B, so complete that first and then Contact us, and schedule a presentation to your council or committee and staff on developing this comprehensive approach to the program. (For an overview of the principles of “regenerative design,” and how they can be applied in your community, please see http://www.regenesisgroup.com. \)

Top

Then proceed to Step 3….

 

.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

30 + = 31