FEDERAL LEGISLATION TOOLKIT/HOW YOU CAN HELP SAFEGUARD OUR NATION'S PACE PROGRAMS:
We need your help now to ask Congress to take immediate action to provide a path forward for PACE – so that our nation can use this innovative local government tool to unlock investment in clean energy and create jobs. There are three main activities that you can engage in to help out.
Contact your Member of Congress and Senators today – and urge them to pass legislation immediately to save PACE (see letter template in item B. below)
Contact your local newspaper (see PACE Media Memo in E. below for guidance)
Pass a resolution in your city or county supporting PACE (see Sample Municipal Resolution for guidance in F. below)
In this PACE Grassroots Action Toolkit, we have provided materials to assist you in your effort to communicate to Congress. Our work is urgent: Congress will only be in session for 8 more weeks in 2010. The focus of our effort is the Senate Banking Committee and House Financial Services Committee. But all members of Congress need to hear from us.
A. PACE Summary for Legislators (7-12-10)
B. Congressional Letter Template (7-12-10)
C. Response to FHFA/OCC July 6th letters (7-12-10)
D. Congressional Outreach Contact Info (7-14-10)
E. PACE Media Memo (7-14-10)
F. Sample Municipal Resolution (7-14-10)
| Please send copies of all congressional letters to: | congress@pacenow.org | ||||
| Federal Legislation Outreach Team Leaders: | |||||
| Area of Focus: | Name: | Email: | Phone: | ||
| Not for Profits & Organized Labor | Greg Hale | ghale@nrdc.org | (212) 727-4613 | ||
| Trade Associations | Nick Chaset | nick@renewfund.com | (510) 219-2121 | ||
| State/Local Government – East of Mississippi | Steve Frenkel | steve@renewfund.com | (847) 859-2797 | ||
| State/Local Government – West of Mississippi | Adam Byrnes | adam@renewfund.com | (510) 350-3733 | ||
| Corporate Support - Fortune 500 Corporations | Sandi McLaughlin | sandi@pacenow.org | (212) 659-4917 | ||
| Corporate Support | Kelley McKanna | kelley@renewfund.com | (510) 451-7910 | ||
| Key Senators to Lead: | Key Staff Member: | Email: | Phone: | State | PACE State |
| Senator Judd Gregg | Jenn Gallagher | jenn_gallagher@gregg.senate.gov | (202) 224-3324 | NH | Yes |
| Senator George Voinovich | Todd Johnston | todd_johnston@voinovich.senate.gov | (202) 224-3353 | OH | Yes |
| Senator Kay Bailey Hutchinson | Dana Barbieri | dana_barbieri@hutchison.senate.gov | (202) 224-5922 | TX | Yes |
| Senator David Vitter | Travis Johnson | travis_johnson@vitter.senate.gov | (202) 224-4623 | LA | Yes |
| Senator Bob Bennett | Mike Nielsen | Mike_Nielsen@banking.senate.gov | (202) 224-5444 | UT | No |
| Senator Richard Shelby | Graham Smith | graham_smith@shelby.senate.gov | (202) 224-5744 | AL | No |
| Senator Mike Crapo | Gregg Richard | Gregg_Richard@Crapo.senate.gov | (202) 224-6142 | ID | No |
| Senator Jim Bunning | William Henderson | William_Henderson@bunning.senate.gov | (202) 224-4343 | KY | No |
| Senator Mike Johanns | Sarah Novascone | sarah_novascone@johanns.senate.gov | (202) 224-4224 | NE | No |
| Senator Jim DeMint | Jeff Murray | jeff_murray@demint.senate.gov | (202) 224-6121 | SC | No |
| Senator Bob Corker | Courtney Geduldig | courtney_geduldig@corker.senate.gov | (202) 224-3344 | TN | No |
The PACE bond market has the potential to dramatically accelerate the energy retrofitting of America's building stock due to the below advantages.
PACE Impact: Property tax lien oriented financing that dramatically improves the economics of energy retrofits (efficiency measures and micro renewable energy)
To see who supports PACE please click on our PACE Legislation Endorser List.
- Significant job creation
- Accelerates movement toward energy independence & reduces GHG emissions
- Very low fiscal cost & high probability of success
Property Owner:
- Lower energy bills and substantially reduced upfront costs for energy retrofits
- Improved return on investment/positive cash flow on retrofits (annual savings > cost)
States, Cities & Municipalities:
- Immediate job creation
- No credit or general obligation risk
- Obligation is liability of real estate owner
- Greenhouse gas reductions/energy independence
- Opt in: Only those real estate owners who opt in pay for it
Existing Mortgage Lenders:
- Borrowers cash flow/credit profile improves (energy savings > annual tax cost)
- Property/collateral value increases
Lender:
- Virtually no risk of loss as property tax liens are senior to mortgage debt
- 97% of property taxes are current & losses are less than 1%
The ability for our nation to finance energy retrofits with PACE bonds emerged in 2008 with the passage of enabling legislation in California. In recognition of the large benefits of PACE finance, the following states have recently passed enabling legislation: CA, CO, FL, GA, IL, LA, ME, MD, MN, MO, NV, NH, NM, NY, NC, OH, OK, OR, TX, VT, VA, WI, and legislation is pending in Arizona. Florida and Hawaii have existing ability to launch PACE programs. The first PACE bond was issued by Berkeley, CA in January, 2009.
2. FEDERAL LEGISLATION TOOLKIT/HOW YOU CAN HELP SAFEGUARD OUR NATION'S PACE PROGRAMS:
We need your help now to ask Congress to take immediate action to provide a path forward for PACE – so that our nation can use this innovative local government tool to unlock investment in clean energy and create jobs. There are three main activities that you can engage in to help out.
Contact your Member of Congress and Senators today – and urge them to pass legislation immediately to save PACE (see letter template in item 2 B. below)
Contact your local newspaper (see PACE Media Memo in 2 E. below for guidance)
Pass a resolution in your city or county supporting PACE (see Sample Municipal Resolution for guidance in 2 F. below)
In this PACE Grassroots Action Toolkit, we have provided materials to assist you in your effort to communicate to Congress. Our work is urgent: Congress will only be in session for 8 more weeks in 2010. The focus of our effort is the Senate Banking Committee and House Financial Services Committee. But all members of Congress need to hear from us.
A. PACE Summary for Legislators (7-12-10)
B. Congressional Letter Template (7-12-10)
C. Response to FHFA/OCC July 6th letters (7-12-10)
D. Congressional Outreach Contact Info (7-14-10)
E. PACE Media Memo (7-14-10)
F. Sample Municipal Resolution (7-14-10)
| Please send copies of all congressional letters to: | congress@pacenow.org | ||||
| Federal Legislation Outreach Team Leaders: | |||||
| Area of Focus: | Name: | Email: | Phone: | ||
| Not for Profits & Organized Labor | Greg Hale | ghale@nrdc.org | (212) 727-4613 | ||
| Trade Associations | Nick Chaset | nick@renewfund.com | (510) 219-2121 | ||
| State/Local Government – East of Mississippi | Steve Frenkel | steve@renewfund.com | (847) 859-2797 | ||
| State/Local Government – West of Mississippi | Adam Byrnes | adam@renewfund.com | (510) 350-3733 | ||
| Corporate Support - Fortune 500 Corporations | Sandi McLaughlin | sandi@pacenow.org | (212) 659-4917 | ||
| Corporate Support | Kelley McKanna | kelley@renewfund.com | (510) 451-7910 | ||
| Key Senators to Lead: | Key Staff Member: | Email: | Phone: | State | PACE State |
| Senator Judd Gregg | Jenn Gallagher | jenn_gallagher@gregg.senate.gov | (202) 224-3324 | NH | Yes |
| Senator George Voinovich | Todd Johnston | todd_johnston@voinovich.senate.gov | (202) 224-3353 | OH | Yes |
| Senator Kay Bailey Hutchinson | Dana Barbieri | dana_barbieri@hutchison.senate.gov | (202) 224-5922 | TX | Yes |
| Senator David Vitter | Travis Johnson | travis_johnson@vitter.senate.gov | (202) 224-4623 | LA | Yes |
| Senator Bob Bennett | Mike Nielsen | Mike_Nielsen@banking.senate.gov | (202) 224-5444 | UT | No |
| Senator Richard Shelby | Graham Smith | graham_smith@shelby.senate.gov | (202) 224-5744 | AL | No |
| Senator Mike Crapo | Gregg Richard | Gregg_Richard@Crapo.senate.gov | (202) 224-6142 | ID | No |
| Senator Jim Bunning | William Henderson | William_Henderson@bunning.senate.gov | (202) 224-4343 | KY | No |
| Senator Mike Johanns | Sarah Novascone | sarah_novascone@johanns.senate.gov | (202) 224-4224 | NE | No |
| Senator Jim DeMint | Jeff Murray | jeff_murray@demint.senate.gov | (202) 224-6121 | SC | No |
| Senator Bob Corker | Courtney Geduldig | courtney_geduldig@corker.senate.gov | (202) 224-3344 | TN | No |
3. Introduction to PACE finance:
A. Slide Introduction to PACE - Washington D.C. Presentation (10-6-09)
B. 2009 Milken Institute PACE Finance Panel (Audio) (4-29-09)
C. Details of PACE Programs
D. PACE Market Sizing (Commercial) - Johnson Controls Estimate
E. PACE Explained in Simple Terms
4. PACE State Legislation Battle Toolkit
A. PACE Constitutionality White Paper: Paul Hastings Report (5-28-10)
B. PACE Summary Description for Legislators
C. PACE Webinar on State Strategies for Passing Legislation
D. PACE Concerns & White House Solutions
E. PACE Programs: Historical Precedent, Seniority and Benefits to Existing Lenders
F. PACE Lien Seniority in Foreclosure is Immaterial
G. Existing State Legislation (See 14 below)
H. Template for PACE Letter to State Legislator
I. PACE Letter Template to Legislator Which Addresses Lender/Consumer Concerns
J. Template for State Legislation Coalition Petition
K. The 10 Must Haves for PACE State Enabling Legislation
L. Barclays Capital Memo – PACE Seniority is Mandatory
M. PACE White Paper, May 2010
5. PACE in the News
A. NY State to Receive Largest DOE Grant to Accelerate PACE
B. Harvard Business Review - Energy Alternatives: A Market Solution for Achieving "Green" by Jack Hidary (Jan/Feb 2010)
C. Scientific American - World Changing Ideas: 20 Ways to Build a Cleaner, Healthier, Smarter World (11/03/09)
D. New York State Passes PACE Finance Enabling Legislation (11-17-09)
E. Vice President Biden/Secretary Chu/Secretary Donovan’s PACE Announcement at “Recovery Through Retrofit” Conference (10-19-09)
· YouTube Link to Announcement Highlights
· C-SPAN Link to Full Announcement
F. "Recovery Through Retrofit” Report (Released 10-19-09)
· Policy Framework for PACE Programs (10-18-09)
· White House DOE Grants
G. Senator PACE Letter to President Obama (11-10-09)
H. President Clinton's Clinton Global Initiative Announcement
· YouTube Link to CGI Announcement
I. Governor Schwarzenegger’s Announcement (9-24-09)
J. Mayor Jerry Sanders (R), San Diego (9-24-09)
K. Board of Boulder County Commissioners (9-24-09)
L. PACENow Executive Director Job Description
M. America’s First Major PACE Commercial Project: Santa Rosa Plaza Mall Installs “Cool Roof”
N. Congressman Israel PACE Op-Ed (10-19-09)
6. PACENOW Working Group Meetings:
A. Consortium Letter to Congress (6-16-09)
B. PACE Language in Waxman Markey Bill – H.R. 2454: American Clean Energy Security Act of 2009
C. PACE Washington D.C. Meeting (5-28-09)
· Washington D.C. Program Agenda (5-28-09)
· Washington D.C. Participant List (5-28-09)
D. PACE Commercial Real Estate Meeting (12-10-09)
· New York CRE Meeting Agenda (12-10-09)
· New York CRE Meeting Transcript (12-10-09)
7. Municipal Administration of PACE Bond Program:
A. Simple Steps: How to Implement a PACE Program
B. PACE Local Government Guide (9-2009)
8. PACE Federal Correspondence with Federal Housing Finance Authority ("FHFA")
A. Government & Stakeholder Response to Fannie Mae & Freddie Mac’s May 5th Lender Letters
· FHFA Statement on Certain Energy Retrofit Loan Programs (7-6-10)
· OCC Bulletin PACE Announcement (7-6-10)
· Governor Schwarzenegger (CA) PACE Announcement (7-6-10)
· Senator Boxer Letter to FHFA (7-8-10)
· Chairmen Frank and Waxman Letter to Secretaries Geithner and Chu and Acting Director DeMarco (7-2-10)
· Senator Schumer Letter to FHFA (6-30-10)
· PACENow Letter to Alfred Pollard, FHFA (6-23-10)
· Governor Schwarzenegger (CA) Letter to VP Biden (6-21-10)
· Senators Letter to Senator Dodd (6-16-10)
· PACENow Letter to Senators Dodd & Frank (6-10-10)
· PACENow Letter to Alfred Pollard, FHFA (6-9-10)
· California Congressional Letter to FHFA (6-3-10)
· Department of Energy Letter to FHFA (5-24-10)
· Congress Letter to FHFA (5-20-10)
· Mayor Bloomberg (NYC)Letter to FHFA (5-18-10)
· Senator Letter to FHFA (5-18-10)
· Governor Ritter (CO) Letter to FHFA (5-17-10)
· Governor Richardson (NM) Letter to FHFA (5-17-10)
· California Attorney General Letter to FHFA (5-17-10)
· Governor Schwarzenegger (CA) Letter to FHFA (5-13-10)
· PACENow FHFA Letter to Vice President Biden (5-7-10)
B. a href="http://pacenow.org/documents/FHFA Letter.pdf" class="links" target="blank"> FHFA Letter Expressing Concerns with PACE (6-18-09)
C. PACE Program Information: Response to Regulatory Agency Questions
D. Governor Richardson’s FHFA Pro PACE Response to President Obama (10-13-09)
E. CA Attorney General FHFA Response (10-12-09)
· FHFA Response Letter (10-29-09)
F. Board of County Commissioners FHFA Pro PACE Response to President Obama (10-13-09)
G. Barclays Capital Opinion on Need for PACE Seniority (9-14-09)
H. Pro PACE Senator Response Letter (8-3-09)
I. Pro PACE Mayor/Municipality Response Letter (7-30-09)
J. Fannie Mae PACE Guidelines (9-18-09)
K. DOE PACE Guidelines (5-7-10)
9. Potential Federal Government/Department of Energy Scaling of Nationwide PACE Program:
A. EPA Finance Advisory Board Recommends PACE Programs/Presidential Task Force (6-15-09)
B. PACE Distribution Model
C. Sample DOE PACE Guarantee "Reservation" Form
D. Two Different Bond Financing Routes
E. PACE Bond Tax-exemption Cost/Benefit Analysis
10. Additional PACE Support Letters:
A. AIA (10-15-09)
B. LIUNA (10-29-09)
11. PACE Financing:
A. Boulder County PACE Bond Prospectus (5-20-09)
B. Barclays Capital PACE Capital Markets Memo (5-15-09)
12. PACE and Existing Mortgage Lender: Legal Analyses
A. PACE Programs: Historical Precedent, Seniority and Benefits to Existing Lenders
B. PACE Bloomberg Law Article (Jan 2010)
C. Jones Hall Memo: Consent Legal Analysis (5-14-09)
D. Commercial Mortgages: Legal Consent Issues & Solutions (5-2009)
13. Property Tax Credit History - California & Washington:
A. 2006-2007 (CA)
B. 2007-2008 (CA)
C. 2008 Property Tax Statistics (WA)
14. Federal PACE Related Legislation:
A. Waxman Markey (HR 2454) Dingell Amendment
B. PACE Bond Tax-exempt Status Bill - Rep. Thompson
C. Israel (HR 3836)
15. PACE Programs by State:
A. Current Clean Energy Municipal Financing Bills – State by State
· DDatabase of State Incentives for Renewables & Efficiency
· PACE Legislation Table (2-10-10)
Passed:
B. California: PACE State Enabling Legislation (AB 811); (AB 474); (SB 279)
· City of Berkeley PACE Program
· City of San Francisco "GreenFinanceSF" (4-8-10);: "GreenFinanceSF Project List" (2-25-10)
· City of Yucaipa's Energy Independence Program
· Palm Desert PACE Program
· San Diego County PACE Program
· Sonoma County PACE Program
· Western Riverside County - Energy Efficiency and Water Conservation Program
C. Colorado: PACE State Enabling Legislation (HB 08-1350)
· Boulder County PACE Program
D. Illinois: PACE State Enabling Legislation (SB 583)
E. Louisiana: PACE State Enabling Legislation (SB 224)
F. Maryland: PACE State Enabling Legislation (HB 1567)
· Annapolis PACE Program
· Montgomery County PACE Program
G. Michigan: (HB5640)
H. Missouri: PACE State Enabling Legislation (SHB 1692)
I. Nevada: PACE State Enabling Legislation (SB 358)
J. New Hampshire: PACE State Enabling Legislation (HB 1554)
K. New Mexico: PACE State Enabling Legislation (HB 572)
L. New York: PACE State Enabling Legislation
· NYS PACE LAW (S66004)
· Town of Babylon: Long Island Green Homes
· Bedford, NY: PACE State Legislative Exemption Specific to Town of Bedford
· City of Binghamton PACE Program (5867-A); (A08890)
M. North Carolina (Note: Law needs to be amended as it requires revolving loan) (HB 1389)
N. Ohio: (HB 1)
O. Oklahoma: (SB 668)
P. Oregon: PACE State Enabling Legislation (HB 2181); (HB 2626)
Q. Texas: PACE State Enabling Legislation (HB 1391); (HB 1937)
R. Vermont: PACE State Enabling Legislation (H 446)
S. Virginia: PACE State Enabling Legislation (SB 1212)
T. Wisconsin: AB 255
In Process:
U. Arizona: PACE State Enabling Legislation (HB 2335)
V. Connecticut: (Raised Bill 5465 - Section 5)
W. Florida: Proposed PACE State Enabling Legislation (Precourt/Hasner Press Release)
X. a href="http://assembly.state.ny.us/leg/?bn=A07611&sh=t" class="links" target="blank"> New York: (A 7611); (A 2672)
16. Articles/Studies on the Value of Energy Retrofits
A. Appraisal Journal. Evidence of Rational Market Valuations for Home Energy Efficiency (1998)
B. Assessing the Market Impacts of Third Party Certification on Residential Properties (5-29-09)
C. Doing Well by Doing Good? Green Office Buildings (8-12-09)
17. Related Articles/Links:
A. University of California, Berkeley PACE Website
B. Article on San Diego, Palm Desert, etc (1-26-09)
C. Environment Magazine PACE Finance Article (Jan/Feb 2009)
D. Homeowner Presentation
E. Historical State by State Analysis of Housing Units By Structure
F. Commercial/residential Real Estate Default History
For more information, please email us at info@PACENOW.org