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HomeMy WebLinkAboutR09-110 Formation of Energy Smart Local Improvement DistrictCommissioner moved adoption of the following solution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2009 - ~D A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO, PROVIDING FOR THE FORMATION OF THE EAGLE COUNTY ENERGY SMART LOCAL IMPROVEMENT DISTRICT; DESCRIBING THE PROPERTY TO BE INCLUDED IN THE DISTRICT, THE IMPROVEMENTS TO BE MADE ON SUCH PROPERTY, AND THE METHOD OF FINANCING SUCH IMPROVEMENTS; AND PROVIDING OTHER MATTERS RELATING THERETO. WHEREAS, Eagle County, Colorado (the "County") is a Colorado county duly organized and operating under the Constitution and laws of the State of Colorado (the "State"); and WHEREAS, the members of the Board of County Commissioners of the County (the "Board") have been duly elected, chosen and qualified; and WHEREAS, pursuant to part 6 of Article 20 of Title 30, Colorado Revised Statutes, as amended (the "Act"), the County is authorized to form a local improvement district for the purpose of, among others, encouraging, accommodating, and financing Renewable Energy Improvements and Energy Efficiency Improvements (both as defined in the Act); and WHEREAS, the Colorado General Assembly has determined that the production and efficient use of energy will continue to play a central role in the future of Colorado and that renewable energy will advance the security, economic well-being, and public and environmental health of our State, as well as contributing to the energy independence of our nation; and WHEREAS, the County desires to encourage, accommodate and provide financing for Renewable Energy Improvements and Energy Efficiency Improvements (collectively, "RE/EE Improvements") on residential and commercial properties in the County (the "Project") and accordingly desires to form a local improvement district to be known as the Eagle County Energy Smart Local Improvement District (the "District") pursuant to the Act for the purpose of accomplishing the Project, including paying all costs necessary and incidental thereto for the benefit of the property in the District as defined in the Act; and WHEREAS, although new building codes can impact energy usage in new structures, there is a vast quantity of existing structures with many years of remaining life before replacement, and these structures are not very energy efficient by today's standards, nor do they 1VVDE - 065064/000014- 43053 v3 have renewable energy systems installed to provide some or all of their electric energy needs; and WHEREAS, facilitating energy efficiency in existing homes requires creative ways of financing that will provide incentives for property owners to seek to install RR/EE Improvements now rather than later; and WHEREAS, because the expected life and pay back of energy-efficiency improvements is 20 to 25 years, but owners own their homes, on average, for a much shorter period, homeowners currently face the prospect of not being able to recover their initial energy efficiency investment upon resale; and WHEREAS, under the loans made through the District, the responsibility for repayment would remain with the property, eliminating the need to recover for the initial cost of the energy improvement before the 20 to 25 year expected-life and pay-back period ran; and WHEREAS, pursuant to the Act and other applicable law of the State of Colorado, in order to finance the Project, the County expects to issue bonds and incur other multiple fiscal year financial obligations in order to make loans to property owners for the purpose of making EE/RE Improvements to their properties if such owners agree that their properties benefited from such improvements are included in the District and are assessed to pay for costs of such improvements, including a portion of financing and administrative costs; and WHEREAS, the County anticipates that the loans provided by the County to property owners to finance EE/RE Improvements to their properties would be less expensive than a conventional bank loan, because of, in part, the County's ability to issue tax-exempt bonds or tax credit bonds, and, based on various federal tax laws considerations, the County may also issue taxable bonds to fund loans to certain property owners who do not qualify for tax-exempt financings; and WHEREAS, pursuant to the requirements of the Act and Article X of Section 20 of the State constitution, voter approval is required prior to the issuance by the County of such bonds or incurrence of other multiple fiscal year financial obligations; and WHEREAS, the Board has previously determined to submit a ballot issue (the "Ballot Issue") authorizing the issuance of such bonds and incurrence of other multiple fiscal year financial obligations to the eligible electors of the County at an election to be held on November 3, 2009; and WHEREAS, in order to achieve savings with respect to the costs of issuance of the bonds or incurrence of other multiple fiscal year financial obligations, the County may partner and cooperate with other counties in the State in issuing the bonds and financing loans to the property owners in the District and otherwise accomplishing the Project; and WHEREAS, the County has, in accordance with Section 30-20-603(6) of the Act, held a public hearing on the formation of the District at the meeting of the Board at which this \VADB - 065064/000014 - 4?8052 v3 2 Resolution is adopted following published notice thereof not less than 30 days prior to the date of such public hearing; and WHEREAS, notice of the public hearing was published in the County's legal newspaper, the Eagle Valley Enterprise, on September 17, 2009, stating the date, time, location, and subject of the hearing and the other information required to be included therein by Section 30-20-603(6) of the Act; however, the published notice did not contain all of the information set forth in section 30-20-603(6) of the Act because the District will include only property for which the property owner has consented to inclusion and has entered into an agreement with the County containing, among other things, a waiver of such omitted information in the notice; and WHEREAS, the County has determined that it is not possible to mail notice of such public hearing to each address within the District pursuant to Section 30-20-603(2)(b) of the Act because, as contemplated by Section 30-20-603(11.5) of the Act, the properties to be included in the District have not yet been identified; and WHEREAS, pursuant to the Act, the District will include only property for which the owner thereof shall have entered into a contract or agreement with the County for the inclusion of such property in the District; and WHEREAS, the County may, pursuant to Section 30-20-603(12) of the Act, require in such contract or agreement that such owner waive such mailed notice and any other notice of the formation of the District otherwise required to be given to such owners; and WHEREAS, the County has not received written protests to the formation of the District from any owners of property proposed to be included in the District because only those properties for which owners agree to be included in the District will be so included; and WHEREAS, pursuant to Section 30-20-603(1) of the Act, the EE/RE Improvements may be made to properties located within the boundaries of a municipality only if such municipality consents by ordinance to such improvements being made to properties located within its boundaries; and WHEREAS, the County intends to seek consents from the towns of Avon, Basalt (with respect to its territory located within the County), Eagle, Gypsum, Minturn, Red Cliff and Vail to make the EE/RE Improvements to properties located within their respective boundaries. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNT OF EAGLE, STATE OF COLORADO THAT: 1. Declaration of District. Pursuant to and in accordance with the Act, the County hereby forms the "Eagle County Energy Smart Local Improvement District" (the "District") as a "District" within the meaning of the Act. 2. Description of District. The District will consist of, and shall only include, each property within the County (each, an "Included Property") for which the owner thereof (an ~~u~e - u~so~arooooia - azhus2 ~3 3 "Included Owner") has executed an agreement with the County consenting to the inclusion of such property within the District (an "Improvement Agreement"), which Included Properties shall be added to the District by subsequent resolutions of the Board as provided in Section 30-20-603(11.5) of the Act; provided that, in accordance with Section 30-20-603(1)(a) of the Act, if any such property is located within any municipality in the County, such property may not be so included in the District as an Included Property unless such municipality shall have consented to making the EE/RE Improvements to properties within its boundaries. 3. Description of Improvements. The improvements to be financed by the County for properties within the District shall consist of, and shall be limited to, any improvements constituting RE/EE Improvement pursuant to the Act. The RENEE Improvements to be constructed on each Included Property shall be as set forth in the Improvement Agreement or Improvement Agreements for such Included Property. 4. Financing. The cost of RENEE Improvements undertaken by the County for properties within the District or undertaken by an Included Owner and financed by the County, including all financing and administrative costs, shall be assessed on the related Included Property in the amount or amounts set forth in the Improvement Agreement(s) for such Included Property in accordance with the Act, and shall be financed at the option of the County, through the issuance of bonds by the County in one or more series and/or incurrence of other multiple fiscal year financial obligation, which bonds and/or financial obligation shall be payable from such assessments and other legally available funds of the County in accordance with the Act and the Ballot Issue, all as more fully set forth in the Improvement Agreement(s) for such Included Property pursuant to Section 30-20-603(12) of the Act. 5. Notice. In accordance with Section 30-20-603(6) of the Act, on September 17, 2009, the County published notice (the "Notice") of the public hearing conducted at the meeting at which this Resolution is adopted in the Eagle Valley Enterprise. Pursuant to Section 30-20- 603(12) of the Act, each Improvement Agreement shall contain a waiver by the Included Owner of the information not included in the Notice, or the insufficiency of the Notice, or any other notice of such public hearing, including, without limitation, any mailed notice thereof pursuant to Section 30-20-603(2)(b) of the Act. 6. Authorization of County Officers and Employees. The Board and all other County officers and employees are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Resolution. 7. Ratification of Prior Actions. All actions not inconsistent with the provisions of this Resolution heretofore taken by the members of the Board and the officers and employees of the County and directed toward the formation of the District for the purposes stated herein are hereby ratified, approved and confirmed. 8. Repealer. All prior acts, orders or resolutions, or parts thereof, by the County in conflict with this Resolution are hereby repealed, except that this repealer shall not be construed to revive any act, order or resolution, or part thereof, heretofore repealed. ~~~oe - oFSOhaioooo u - a>sosz ~~ 4 9. Severability. If any section, paragraph, clause or provision of this Resolution shall be adjudged to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining sections, paragraphs, clauses or provisions of this Resolution, it being the intention that the various parts hereof are severable. 10. Effective Date. This Resolution shall take effect immediately upon its passage; but if the ballot question that it supports fails to pass, this Resolution shall be null and void. //REMAINDER OF PAGE INTENTIONALLY LEFT BLANK// This Resolution has been adopted this 27th day of October, 2009. ATTEST: Clerk to the Bo Commissioners COUNTY OF EAGLE, STATE OF COLORADO By and Through its BOARD OF COUNTY COMMISSIONERS Commissioner seconded adoption of the foregoing Resolution. The roll having been called, the vote wa as follows: Commissioner Fisher ~_ Commissioner Runyon U Commissioner Stavney This Resolution passed by ~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. ~~~~s - o~soFaiooooia - azxosz ~s 6