That the City Council of the City of Grand Island, Nebraska (the “City”), hereby finds and determines as follows:
Pursuant to Neb. Rev. Stat. §§13-3201 to 13-3211, inclusive, the Property Assessment Clean Energy Act (the “Act”), energy efficiency and the use of renewable energy are important for preserving the health and economic well-being of Nebraska’s citizens. Using less energy decreases the cost of living and keeps the cost of public power low by delaying the need for additional power plants. To further these goals, it is necessary for the City to promote energy efficiency improvements and renewable energy systems. Upfront costs for energy efficiency improvements and renewable energy systems may prohibit or deter many property owners from making improvements. It is necessary for the City to implement an alternative financing method through the creation of a clean energy assessment district.
Financing energy projects to further these goals is a valid purpose and can be accomplished through Property Assessed Clean Energy (“PACE”) financing, which is used to overcome the upfront costs for energy efficiency improvements and renewable energy systems by using private capital and equity, rather than public debt.
Pursuant to the Act and Neb. Rev. Stat. §13-3204, the City of Grand Island is authorized to establish a clean energy assessment district so that owners of qualifying property can access PACE financing for energy efficiency improvements or renewable energy improvements to their properties located in the City. The City also may enter into an agreement with one or more other municipalities pursuant to the Interlocal Cooperation Act, Neb. Rev. Stat. §§13-801, et seq., for the joint creation, administration, or creation and administration of clean energy assessment districts, pursuant to Neb. Rev. Stat. §13-3210. The City declares its intent that the provisions of this Chapter shall be in conformity with federal and state laws. The City enacts this Chapter pursuant to the Act, as amended.