Miami-Dade Legislative Item
File Number: 120041
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File Number: 120041 File Type: Resolution Status: Adopted
Version: 0 Reference: R-79-12 Control: Board of County Commissioners
File Name: FED RESIDENTIAL & COMMERCIAL MORTGAGE LENDING Introduced: 1/9/2012
Requester: NONE Cost: Final Action: 1/24/2012
Agenda Date: 1/24/2012 Agenda Item Number: 11A27
Notes: Title: RESOLUTION URGING CONGRESS TO PASS H.R. 2599, THE PACE ASSESSMENT PROTECTION ACT, OR SIMILAR LEGISLATION THAT WOULD PROHIBIT FANNIE MAE, FREDDIE MAC AND OTHER FEDERAL RESIDENTIAL AND COMMERCIAL MORTGAGE LENDING REGULATORS FROM ADOPTING POLICIES THAT CONTRAVENE ESTABLISHED STATE AND LOCAL PROPERTY ASSESSED CLEAN ENERGY (PACE) LAWS
Indexes: LEGISLATURE
Sponsors: Jean Monestime, Prime Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 1/24/2012 11A27 Adopted P

County Attorney 1/9/2012 Assigned Jess M. McCarty

Legislative Text


TITLE
RESOLUTION URGING CONGRESS TO PASS H.R. 2599, THE PACE ASSESSMENT PROTECTION ACT, OR SIMILAR LEGISLATION THAT WOULD PROHIBIT FANNIE MAE, FREDDIE MAC AND OTHER FEDERAL RESIDENTIAL AND COMMERCIAL MORTGAGE LENDING REGULATORS FROM ADOPTING POLICIES THAT CONTRAVENE ESTABLISHED STATE AND LOCAL PROPERTY ASSESSED CLEAN ENERGY (PACE) LAWS

BODY
WHEREAS, in 2010, the Florida legislature enacted Chapter 2010-139, Laws of Florida (HB 7179), which created section 163.08, Florida Statutes, commonly known as the Property Assessed Clean Energy (PACE) law; and
WHEREAS, among other provisions, section 163.08 authorized cities and counties to:
* Establish voluntary energy efficiency and renewable energy programs for the purpose of providing and financing qualifying improvements;
* Levy a non-ad valorem assessment to fund a qualifying improvement;
* Incur debt to provide financing for qualifying improvements; and
* Collect costs incurred from financing qualifying improvements through a non-ad valorem assessment, a municipal or county lien, or through any other lawful method; and

WHEREAS, Section 163.08 includes findings by the Florida Legislature that there is a compelling state interest in enabling property owners to voluntarily finance energy efficient and renewable energy improvements with local government assistance; and
WHEREAS, on November 4, 2011, this Board passed Ordinance 10-78, which established a voluntary energy efficiency and renewable energy program pursuant to Section 163.08 to provide Miami-Dade County homeowners options to fund energy efficient and renewable energy improvements through federal or state grant funds, private loans from a financial institution, and loans from the County and private or not-for-profit sources of funds; and
WHEREAS, energy efficiency and renewable energy retrofits create much needed local “Green-Collar” construction jobs in our county; and
WHEREAS, districts have been established in other parts of the U.S. to fund energy efficiency improvements and renewable energy improvements through loans to property owners who agree to repay such loans through a special assessment on their ad valorem tax bill; and
WHEREAS, the U.S. Department of Energy encouraged the use of such voluntary PACE assessments as an innovative way for local governments to spur energy efficiency renovation and job creation; and
WHEREAS, Fannie Mae and Freddie Mac, which hold approximately half of the home mortgages in the U.S., issued letters in May, 2010, contradicting the policies of the Department of Energy and the White House, indicating that PACE districts put lenders second in line to collect if a homeowner defaults on a loan; and
WHEREAS, these actions have largely frozen PACE programs for residential housing; and
WHEREAS, Congresswoman Nan Hayworth (R - New York) has sponsored H.R. 2599, the PACE Assessment Protection Act of 2011 to prohibit Fannie Mae, Freddie Mac, and other Federal residential and commercial mortgage lending regulators from adopting policies that contravene established state and local property assessed clean energy laws; and
WHEREAS, several members of the Florida Congressional delegation have signed onto the bill as cosponsors, including Representatives Mario Diaz-Balart, Alcee Hastings, Thomas Rooney, Ileana Ros-Lehtinen, Steve Southerland, Alan West and C.W. Bill Young; and
WHEREAS, this Board would like to express its support for this H.R. 2599,

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board:
Section 1. Urges Congress to pass H.R. 2599, the PACE Assessment Protection Act, or similar legislation that would prevent Fannie Mae, Freddie Mac, and other Federal residential and commercial mortgage lending regulators from adopting policies that contravene established State and local property assessed clean energy laws.
Section 2. Urges the remaining members of the Florida Congressional Delegation to cosponsor this legislation.
Section 3. Directs the Clerk of the Board to transmit certified copies of this resolution to the members of the Florida Congressional Delegation.
Section 4. Directs the County's federal lobbyists to support the legislation set forth in Section 1 above, and authorizes and directs the Office of Intergovernmental Affairs to include this item in the 2012 federal legislative package.



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