The CaliforniaFirst program could stimulate millions in local financing
The Sacramento County Board of Supervisors unanimously voted to join the CaliforniaFIRST program, the first statewide municipal financing program of its kind in the nation. This program, developed by the California Statewide Communities Development Authority, was enabled by the passage of Assembly Bill 811 in 2008, and provides an additional voluntary financing option for property owners to fund energy efficient projects such as solar panels, dual pane windows, improved insulation and efficient heating and air conditioning systems. Repayment of the project funding is through the property tax bill and the repayment obligation stays with the property upon sale; this allows owners to immediately begin realizing energy and utility bill savings as well as increased property values.
“We are pleased to be taking this step to bring Sacramento County into the first statewide municipal financing program in the nation,” said Board Chair Roger Dickinson. “This program will help jump start the local economy and create good, green construction related jobs for all skill levels.”
The CaliforniaFIRST Program is anticipated to launch with a pilot group of jurisdictions, consisting of 14 counties and up to 146 cities. The cost for the County to join the program is $25,000 which will funded by stimulus funds; there is no impact to the General Fund.
To support the development and implementation of AB 811 programs in the state, the California Energy Commission has made State Energy Program grant funds available to local jurisdictions, through a competitive grant application process.
The Board also authorized a bid by Sacramento County for $16.5 million in grant funds to help launch the CaliforniaFIRST the program on behalf of California Statewide Communities Development Authority, and the pilot jurisdictions. The next steps include approval of the program by the California Statewide Communities Development Authority board with anticipated roll out of the program occurring this summer.
For details about the program and consideration, view the Board of Supervisors Agenda Item # 40 at http://www.agendanet.saccounty.net/sirepub/pubmtgframe.aspx?meetid=9904&....