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RESOLUTION NO. 2024-R ___
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CULVER CITY, CALIFORNIA CONSENTING TO THE
INCLUSION OF THE PROPERTIES LOCATED AT 3590 -
3620 EASTHAM DRIVE AND 8432 STELLAR DRIVE,
CULVER CITY, CALIFORNIA IN THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY ( CSCDA) OPEN PROPERTY ASSESSED
CLEAN ENERGY (PACE) PROGRAM; AUTHORIZING THE
CSCDA TO ACCEPT AN APPLICATION FROM THE
OWNER OF SUCH PROPERTY, CONDUCT
CONTRACTUAL ASSESSM ENT PROCEEDINGS AND
LEVY CONTRACTUAL ASSESSMENTS ON SUCH
PROPERTY; AND AUTHORIZING RELATED ACTIONS.
WHEREAS, the California Statewide Communities Development Authority (the “Authority”) is a joint exercise of powers authority, the members of which includ e numerous cities and counties in the State of California, including the City of Culver City (the “City”); and WHEREAS, Chap ter 29 of Division 7 of the Streets & Highways Code (“Chapter 29”) authorizes the Authority to establish voluntary contractual asses sment programs to finance or refinance renewable energy, energy efficiency, water efficiency an d seismic strengthening improvements, electric vehicle charging infrastructure and such other improvements, infrastructure or other work as may be authorized by law from time to time (collectively, the “Improvements”) through the levy of contractual assess ments within counties and cit ies throughout the State of California that consent to the participation of properties within their respective territories and the issuance of bonds from time to time; and WHEREAS, for the purpose of providing financing and ref inancing for the Improvements, the Authority has established the California Statewide Communities Development Authority (CSCDA) Open Property Assessed Clean Energy Financing (PACE) Program; and
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WHEREAS, the Authority has designated multiple third -party program administrators to administer the CSCDA Open PACE Program, including Nuveen Green Capital; and
WHEREAS, Chapter 29 provides that assessments may be levied un der its provisions only with the free and willing consent of the owner or owners of each lot or parcel on which an assessment is levied at the time the assessment is levied; and WHEREAS, the ow ner (the “Participating Property Owner”) of the properties located at 3590 -3620 Eastham Drive and 8432 Stellar Drive, Culver City, California (the “Participating Properties”) have asked the Authority and Nuveen Green Capital to provide financing through the CSCDA Open PACE Program for the installation of Improvements on the Participating Properties as part of the renovation of industrial properties on the Participating Properties (the “Projects”), and the City desires to allow the Participating Property Owner to participate in the CSCDA Open PACE Program and to allow the Authority to conduct assessment proceedings under Chapter 29 within its territory and to issue bonds to finance or refinance the installation of Improvements on the Participating Properties; and WHEREAS, the Authority will conduct all assessment proceed ings under Chapter 29 for the Participating Properties and issue any bonds related to the Participating Properties, and the City will not be responsible for the conduct of any assessment proceedings; the levy of assessments; any required remedial action in the case of delinquencies in such assessment payments; or the issuance, sale or administration of any bonds issued in connection with the Participating Properties.
NOW, THEREFORE, the City Coun cil of the City of Culver City, California, DOES HEREBY RESOLVE, as follows:
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1. The City Council hereby f inds and declares that the Participating Properties will benefit from participating in the CSCDA Open PACE Program and, pursuant thereto, the conduct of special assessment proceedings by the Authority pursuant t o Chapter 29 and the issuance of bonds to fin ance or refinance the installation of Improvements on the Participating Properties.
2. The City hereby consents to the conduct of special assessment proceedings by the Authority pursuant to Chapter 29 on the Pa rticipating Property and the issuance of bonds t o finance or refinance the installation of Improvements on the Participating Properties; provided, that:
(1) the Participating Property Owner, who shall be the legal owner of such properties, executes a contract pursuant to Chapter 29 and complies with other applicable provisions of California law in order to accomplish the valid levy of assessments; and
(2) the City will not be responsible for the conduct of any assessment proceedings; the levy of assessment s; any required remedial action in the case of delinquencies in such assessment payments; or the issuance, sale or administration of any bonds issued by the Authority in connection with the Participating Properties.
3. The City Manager or designee is her eby authorized and directed to execute and delive r such certificates, requisitions, agreements and related documents as are reasonably required by the Authority to implement the authorization acc omplished by this Resolution. The City Manager or designee is hereby designated as the contact persons for the Authority in connection with the CSCDA Open PACE Program.
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4. The following City staff persons, together with any other sta ff persons chosen by the City Manager from time to time, are hereby designated as the contact persons for CSCDA in connection with the Projects: Public Works Director/City Engineer.
5. The City Manager and/or his designee(s) are hereby authorized and directed to execute and deliver such certificates, requisitions, agreements and rel ated documents as are reasonably required by CSCDA to implement the Projects.
6. The City Council hereby finds that no environmental review is required under the California Environmental Quality Act ( CEQA) in connection with the adoption of this Resolution because the related proposed Projects are categorically exempt pursuant to Section 15303(e) (Class 3 New Construction) of the State CEQA Guidelines.
7. This Resolution shall take effect immediately upon its adoption.
8. The City Clerk i s hereby aut horized and directed to transmit a certified copy of this resolution to the Secretary of CSCDA at: Secretary of the Board, Californi a Statewide Communities Development Authority, 1400 K Street, Sacramento, CA 95814.
APPROVED AND ADOPTED on the 28th day of October, 2024.
____________________________
YASMINE-IMANI MCMORRIN, Mayor
City of Culver City, California
ATTEST: APPROVED AS TO FORM:
_______________________________ ____________________________ JEREMY BOCCHINO, City Clerk HEATHER BAKER, City Attorney