HomeMy WebLinkAboutLetter to BOS - Renewable Funding RENEWABLE FUNDING
March 13, 2449 � s�
Jane Dolan MAR 16 2009
County of Butte f:
25 County Center Dr. oROVII i E,CALIFORNIA
Oroville, CA 95965
Re: Cities and Counties Can Join Statewide Clean Energy Financing Program
We are pleased to announce that the California Statewide Communities Development
Authority(California Communities) will soon Iaunch an AB 811 solar and energy efficiency
financing program for municipalities throughout California. As a member of California
.Communities,the County of Butte is eligible to participate in this program.
California Communities has chosen Renewable Funding and Royal Bank of Canada to
administer and finance the program. The program is intended to have no cost to
participating cities and counties. Please respond to this letter to obtain additional
information.
The innovative clean energy financing program,known as CityFIRST, eliminates the up-
front cost for solar and energy efficiency projects. The voluntary program allows every
property owner in your city or county to pay for the costs of the energy project over 24
years as a line item on their property tax bill. This program has been successfully piloted in
Berkeley and Palm Desert and hundreds of property owners have signed up to participate.
This program has generated significant interest among more than 50 cities and counties in
California. This new program simplifies the process for municipal sponsors since
California Communities creates the financing districts,manages the legal formation
process,and issues the bonds.
Program design and legal process work is underway; details will be sent to cities and
counties who respond to this letter. Please review the enclosed information and email, call,
or fax the attached form to indicate your non-binding interest to participate in this
program.
Sincerely,
C./;3,,
Cisco DeVries
President
1746 Broadway, Oakland, California 94612 F: 510.451.7900 z=: 510.451.7904 www.renewfund.com
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_ - CaliforniaFIRST
Statewide AB811 Clean Energy Financing Program
Program Summary
The CityFIRST program eliminates the up-front cost of solar and energy efficiency projects
for residents and businesses in your community. This voluntary program allows property
owners to pay for the upfront costs over 20 years as a line item on their property tax bills.
If the property is subsequently sold,the repayment obligation transfers to the new owner.
To provide this financing service for your property owners,the municipality may opt into a
new statewide clean energy financing program provided by the California Statewide
Communities Development Authority (California Communities). As a statewide Joint
Powers Authority, California Communities was authorized to provide this program
pursuant to A13811,the State of California's Clean Energy Municipal Financing Law signed
into law last year.
The program is intended to have no direct cost or risk to participating cities and counties.
Program costs are included in the financing package. Renewable Funding works directly
with each participating municipality to tailor and brand a turnkey program for the local
community. The program team,which also includes the California Center for
Sustainable Energy and EcoMotion,provides program education, application processing,
financing and customer service for property owners who choose to participate.
Next Step: Non-Binding Statement of Interest
Please indicate your interest in the CaliforniaFIRST program and you will receive detailed
program information as it becomes available. The process is anticipated to follow the
process outlined below:
• Completion of legal, process,and administrative details.
• Distribution of detailed program information.
• Cities and counties formally opt into the program.
• California Communities begins AB 811 district formation procedures.
• Website launched for each participating city to initiate property owner education.
• Property owners voluntarily sign up,install approved clean energy projects, and
receive financing.
To indicate interest,please respond as follows:
• Send email to cisco@renewfund.com
• Call Kathleen at 510-451-7900,or
• Fax attached form to 510-451-7904
If you have questions,please visit our website at www.renewfund.com or give us a call at
(510) 451-7900.
Lead Partner Information
The California Statewide Communities Development Authority
(California Communities) is a joint powers authority created by the
California League of Cities and the California Association of Counties.
COMMUNITIES It provides local governments and private entities access to low-cost
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financing for projects that provide a tangible public benefit, contribute
Si.,""" to social and economic growth and improve the overall quality of life
LFAQA in local communities in California. CSCDA has issued more than$40
® t'3a'CITY)
billion of debt since its creation in 1988.
Contact: Terrence Murphy, (925) 933-9229
Renewable Funding develops and delivers innovative solutions for
' renewable energy and energy efficiency financing. The founders of
Renewable Funding helped develop the clean energy financing district
concept and Renewable Funding the only company with experience
developing and running these programs.
Contact: Cisco DeVries, (510) 451-7902 or(510)282-4123.
RBC Royal Bank of Canada is a diversified financial services company and
Capital the fifth largest bank in North America. RBC Capital Markets is a
• : .Markets leading underwriter of municipal bonds,with issuance volume of
more than$100 billion since 2004.
Contact: Bob Williams, (415)445-8674
Program Partners
California Center for Sustainable Energy is a non-profit
cn�sa organization whose singular purpose is to develop and implement
/ i SustainabEe anergy policies and programs that promote a sustainable energy future. CCSE
administers the California Solar Initiative (CSI) in the San Diego
region. CCSE brings unique transparency and a mission-driven
approach to the promotion of solar energy and energy efficiency in
California.
Contact: Andrew McAllister, (858)244-7282.
Ecomotion works with cities and utilities to design and implement
clean energy programs and was the lead consultant to Palm Desert for
its AB811 solar and energy efficiency municipal financing program.
-'� Contact: Ted Flanagan, (949)450-7155.
RENEWABLEft 95
AB 811 Solar And Energy Efficiency Finance Program
Non-Binding Statement Of Interest
Please Res and b Aril 6 2009
Fax: (510) 451-7904
Email: info@renewfund.com
Phone: (510) 451-7900
To receive updates, detailed information, and authorization procedures for the
California Statewide Community Development Authority solar and energy efficiency
financing program, please fax this Statement of Interest form to Renewable Funding.
You may also email or call to indicate your interest.
Name of City or County:
Contact Name and Title
Phone
Email Address
Mailing Address
CommentsQuestions
1746 Broadway,31d Floor,Oakland,California USA Phone:510-451-7900 Fax:510-451-7904
Email:info(@renewfund.com Website:www.renewfund.com