Monthly Archives: August 2011

Court Orders Rulemaking Procedure

August 31, 2011

The Federal District Court in Oakland has ruled that the FHFA must conduct a rulemaking procedure re: PACE, finding in favor of Sonoma County’s motion (supported by the State of California).  The existing July 6th FHFA statement does, however, remain in effect.  The Court rejected the FHFA’s claim that it had acted on July 6th in its conservator role… as the conservator of Fannie and Freddie, the FHFA’s action are not subject to court challenges, so that’s good news.  We’ll have more information on how you can formally comment on the FHFA “rule”… presumably the July 6, 2010 statement.  Under it’s rulemaking procedures, the FHFA is required to address comments and explain and justify its rules… details can be found here.   And the text of the Court’s ruling is here…PACE Ruling….

The National Journal calls for PACE

August 12, 2011

Everyone in Washington reads the National Journal… it’s viewed as an objective, middle of the road source of news and insight…  it’s most recent issue summarizes ways to jump start the economy that won’t add to the deficit, and in the  top 10:

6. Recognize PACE loans.

Fannie Mae and Freddie Mac should recognize the loans provided to eligible property owners to retrofit their homes under the Property Assessed Clean Energy program, said Mark Muro, senior fellow and director of policy for the Metropolitan Policy Program at the Brookings Institution. PACE came to a halt last spring after the two mortgage giants announced they would no longer accept loans from the program. The program is a “promising driver of retrofit and … direct job creation,” Muro said.

Send this to your member of the House of Representatives and ask them to support HR 2599….National Journal site

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Congresswoman Nan Hayworth (R-NY)

“PACE programs allow homeowners to make energy-saving modifications on their houses through a voluntary assessment on their property, at no cost to local taxpayers. Our bill facilitates participation by homeowners in states with PACE programs, which will promote conservation, energy savings and job creation.”

Congressman Dan Lungren (R-CA)

“My colleagues and I are fighting for a common sense program that would both increase the value of homes involved and help create jobs in our region. The time is now, more than ever to pass legislation that will accomplish this goal.”

Congressman Mike Thompson (D-CA)

“PACE promotes energy efficiency in ways that are good for our country, economy, and environment, saving property owners money by lowering energy costs and more importantly, creating jobs without taxes or government subsidies. Congresswoman Hayworth, Congressman Lungren, and I are committed to protecting PACE for the future.”

Mayor Jerry Sanders (R-San Diego)

“I am honored to be one of our nation’s first Mayors to support PACE. San Diego plans to derive strong long term advantages through PACE programs and we urge the rest of our nation, on a bipartisan basis, to join us.”

Gov Bill Ritter (D-CO)

“PACE is already creating economic opportunity, energy savings, and environmental benefits through the retrofit of residential and commercial building stock.”

Mayor Michael Bloomberg (I-NYC)

“A New York City PACE program providing property owners with the upfront capital to make energy efficiency retrofits will create jobs and reduce energy costs for residents and businesses.”

Gov Arnold Schwarzenegger (R-CA)

“With PACE, we are providing homeowners and business owners with powerful tools to take control of their energy use and create jobs at the same time”

Adam Hasner (R-FL)

“PACE provides a no-cost to taxpayers, no-mandate, consumer opt-in approach to bringing clean energy technology to homeowners and businesses. PACE will help create jobs for Floridians at a critical time when we are working to get Florida’s economy back on track.” Adam Hasner led passage of Florida's PACE legislation as Majority Leader of the State House of Representatives