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The Planning, Energy, and Environmental Quality Committee of the Tompkins County Legislature today responded enthusiastically to a presentation from EnergizeNY Finance, the entity established by New York State to operate the State's property assessed clean energy (PACE) program.

The PACE program, approved by the State in 2009, offers low-cost long-term financing for energy efficiency and renewable energy projects, supporting up to the entire project cost, for owners of non-residential properties, with repayments collected by the municipality through a charge on the tax bill.

EnergizeNY's Joe Del Sindaco told the committee that, to offer this option, the County, as municipality with senior tax lien authority, would need to approve a local law approving the program within its taxing jurisdiction and request to join, at no charge, the Energy Improvement Corporation (EIC).  The EIC is the not-for-profit Local Development Corporation established to increase energy efficiency and renewable energy through programs including EnergizeNY. The County would also have to sign a related municipal agreement with the EIC, which is funded the New York State Energy Research and Development Authority (NYSERDA), the U.S. Department of Energy, and revenue from the financings.

Del Sindaco said the initiative would result in both environmental benefits, through the improvements financed, and economic benefits, through jobs creation for the energy upgrade projects. Project financing through EnergizeNY would be committed up-front, then awarded upon completion of the project.  He noted that program goals are in line with provisions of the Cleaner Greener Southern Tier plan, which called for additional financing options for energy efficiency and renewable energy projects, and said, "We are very anxious to do something with Tompkins County."  

County Administrator Joe Mareane told the committee that the County would not pledge its full faith and credit as part of the program and participation would not affect the County's bonding limit, and that there would be no effect on calculation of the County's State property tax cap.

EnergizeNY has also briefed Tompkins County Area Development, the Tompkins County Chamber of Commerce, and the City of Ithaca Common Council.

At the suggestion of committee chair Carol Chock, the committee, without dissent, approved a motion directing staff to pursue the potential option further, with staff to return to the committee next month with further information and recommended next steps.

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