Title
AN ORDINANCE APPROVING A PETITION FOR SPECIAL ASSESSMENTS FOR SPECIAL ENERGY IMPROVEMENT PROJECTS AND A PLAN FOR PUBLIC IMPROVEMENTS; APPROVING THE NECESSITY OF ACQUIRING, CONSTRUCTING, AND IMPROVING CERTAIN PUBLIC IMPROVEMENTS IN THE CITY IN COOPERATION WITH THE AKRON-SUMMIT COUNTY ENERGY SPECIAL IMPROVEMENT DISTRICT; DETERMINING TO PROCEED WITH SUCH PROJECT; AND DETERMINING TO LEVY SPECIAL ASSESSMENTS IN CONNECTION WITH SUCH PROJECT.
Brief Description: Passage of this Ordinance will enable the City to become a participating political subdivision of the Akron-Summit County Energy Special Improvement District (ESID). As a result, businesses located within the City of Hudson will be able to have the financing costs of approved energy improvement projects be repaid through an assessment on the property.
Body
Legislative History
None.
Purpose & Explanation
The Development Finance Authority of Summit County (DFA), in cooperation with Summit County is the administrator of the Akron-Summit ESID. DFA contacted the City to determine if we were interested in becoming part of the ESID. If we were to join, businesses, non-profits and governments in Hudson would be eligible to fund energy efficient improvements through the State's Property Assessed Clean Energy (PACE) laws.
Under PACE law, commercial property owners make improvements, such as lighting upgrades, roof replacements and window replacements, and have the costs of the improvements financed over time and repaid through an assessment against the property.
The Northeast Ohio Public Energy Council (NOPEC) is also working in cooperation with DFA and the County and has eligible energy project loan programs. NOPEC loan programs are generally for smaller projects <$500,000, while DFA finances larger projects.
To become part of the ESID, the City needs to approve a petition for a qualifying project. This Ordinance is to approve the petition and assessment of an LED lighting project at a pump station located ...
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