Office of the City Clerk - Record #: SO2018-5032

• Record #: SO2018-5032
• Type: Ordinance
• Status: Passed
• Intro date: 6/27/2018
• Current Controlling Legislative Body: Committee on Finance
• Final action: 10/31/2018
• Title: Establishment of Chicago Property Assessed Clean Energy (PACE) area and program to finance acquisition and construction of energy projects
• Sponsors: Emanuel, Rahm
• Topic: CITY COUNCIL - Miscellaneous

Date	Journal Page Number	Action By	Action	Result
11/1/2018		City Council	Published in Special Pamphlet
10/31/2018	86559	City Council	Passed as Substitute	Pass
10/29/2018		Committee on Finance	Recommended to Pass
10/29/2018		Committee on Finance	Substituted in Committee
6/27/2018	79171	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
June 27,2018










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinance authorizing the establishment of a Property Assessed Clean Energy Program.

Your favorable consideration ofthis ordinance will be appreciated.
Mayor


Very truly yours,

AN ORDINANCE ESTABLISHING A PACE AREA AND ESTABLISHING A PACE PROGRAM TO FINANCE THE ACQUISITION AND CONSTRUCTION OF ENERGY PROJECTS


WHEREAS, the City of Chicago, Illinois (the "City") is a municipal corporation and home rule unit of local government of the State of Illinois authorized pursuant to the Property Assessed Clean Energy Act (50 ILCS 50/1 et seq.) (the "PACE Act") to establish a property assessed clean energy program (the "PACE Program"), create a PACE area (as defined in the PACE Act) and finance energy projects (as defined in the PACE Act); and
WHEREAS, pursuant to an Ordinance adopted by the City Council of the City on
, 2018, was designated a Program Administrator (the
"Administrator") to assist the City in developing a PACE Program; and
WHEREAS, the Administrator has prepared the report attached hereto as Exhibit A (the. "Report") setting forth certain terms of the proposed PACE Program in conformity with the PACE Act; and
WHEREAS, the City now desires to establish the PACE area as the entire corporate limits of the City of Chicago and to establish the PACE Program as further described herein and in the Report and to finance energy projects; and
WHEREAS, any bonds to be issued pursuant to the PACE Act will be approved pursuant to a separate ordinance to be considered at a future meeting of the City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF CHICAGO, ILLINOIS, AS FOLLOWS:
Section 1. Incorporation of the Recitals. The Corporate Authorities hereby find that all of the recitals contained in ...