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HomeMy WebLinkAboutAgenda Packet 08.09.2022 SUSTAINABILITY DISTRICT AGENDA ST. LUCIE COUNTY Regular Meeting Tuesday, August 9, 2022 6:00 PM St. Lucie County Commission Chambers 2300 Virginia Avenue 3rd Floor of Roger Poitras Building Fort Pierce, FL 34982 BOARD MEMBERS District No. 3, Chair LINDA BARTZ District No. 2, Vice-Chair SEAN MITCHELL District No. 1 CHRIS DZADOVSKY District No. 4 FRANNIE HUTCHINSON District No. 5 CATHY TOWNSEND Mission Statement St. Lucie Works to deliver superior service that enhances our quality of life Page 1 of 11 Regular Meeting Tuesday, August 9, 2022 6:00 PM 2 | P a g e WELCOME All meetings are televised. All meetings provided with wireless internet access for public convenience. Please turn off all cell phones and pagers prior to entering the commission chambers. Please mute the volume on all laptops and PDAs while in use in the commission chambers. GENERAL RULES AND PROCEDURES – Attached is the agenda, which will determine the order of business conducted at today’s Board meeting. INVOCATION-PLEDGE – To bring order and decorum to its meeting, the Board begins its meetings with an invocation followed by the Pledge of Allegiance. Participation is voluntary. CONSENT AGENDA – These items are considered routine and are enacted by one motion. There will be no separate discussion of these items unless a Commissioner so requests. REGULAR AGENDA – Proclamations, Presentations, Public Hearings, and Department requests are items, which the Commission will discuss individually, usually in the order listed on the agenda. PUBLIC HEARINGS – These items are usually heard on the first Tuesdays at 6 p.m. or as soon thereafter as possible. However, if a public hearing is scheduled for a meeting on the third Tuesday, which begins at 9 a.m., then public hearings will be heard at 9 a.m. or as soon thereafter as possible. These time designations are intended to indicate that an item will not be addressed prior to the listed time. The Chair will open each public hearing and asks anyone wishing to speak to come forward, one at a time. Comments will be limited to five minutes, and must be pertinent to the agenda item being considered by the Board. As a general rule, when issues are scheduled before the Commission under department request or public hearing, the order of presentation is: (1) County staff presents the details of the Board item (2) Commissioners comment (3) if a public hearing, the Chair will ask for public comment, (4) further discussion and action by the Board. ADDRESSING THE COMMISSION – Please state your name and address, speaking clearly into the microphone. If you have backup material, please have eight copies ready for distribution. NON-AGENDA ITEMS – These items are presented by an individual Commissioner or staff as necessary at the conclusion of the printed agenda. PUBLIC COMMENT – Time is allotted at the beginning of each meeting for general public comment. Please limit comments to three minutes. Comments may pertain to any matter related to the Board’s duties as the County’s governing body. Comments in support or opposition to candidates for public office are not pertinent to the Board’s duties. This includes any speaker identifying himself or herself as a candidate for public office. DECORUM – Please be respectful of others’ opinions. MEETINGS – All Board meetings are open to the public and are held on the first Tuesdays of each month at 6 p.m. and on the third Tuesdays at 9 a.m., unless otherwise advertised. Meetings are held in the County Commission Chambers in the Roger Poitras Administration Annex at 2300 Virginia Ave., Fort Pierce, Fla. 34982. The Board schedules additional workshops throughout the year necessary to accomplish their goals and commitments. Notice is provided of these workshops. Anyone with a disability requiring accommodation to attend this meeting should contact the St. Lucie County Community Services Manager at 772-462-1777 or TDD 772-462-1428 at least 48 hours prior to the meeting. Page 2 of 11 Regular Meeting Tuesday, August 9, 2022 6:00 PM 3 | P a g e 1. CALL TO ORDER 2. GENERAL PUBLIC COMMENT 3. CONSENT AGENDA A. PUBLIC WORKS 1. Energy SAD - 5th Amendment to the Funding Agreement Staff recommends the Board approve the amendment to the funding agreement and authorization for the Chair to sign documents as approved by the County Attorney. 4. REGULAR AGENDA There are no items scheduled. 5. MOTION TO ADJOURN Page 3 of 11 3.A.1. 2022-55432 CONSENT AGENDA - COUNTY ATTORNEY AGENDA REQUEST DATE: 8/9/2022 *ACTION ITEM - BOARD APPROVAL QUASI-JUDICIAL ITEM? No TO: Board of County Commissioners PRESENTED BY: Barbara Guettler, MSBU Coordinator SUBMITTED BY: County Attorney SUBJECT: Energy SAD - 5th Amendment to the Funding Agreement BACKGROUND: In 2010, the County adopted Ordinance No. 10-025 forming the St. Lucie County Sustainability District for the purpose of accomplishing energy efficiency and renewable energy improvements (PACE) including paying the costs necessary and incidental thereto through non-ad valorem assessments. The County has entered into an agreement with the Solar and Energy Loan Fund ("SELF") to serve as the County's agent in implementing the County's PACE program. In August 2014, the District entered into a Funding Agreement with Inland St. Lucie PACE, LLC (the "Lender") to obtain a non-revolving line of credit from the Lender for the purpose of funding a PACE financing program. Upon entering into the Funding Agreement, the District issued its Taxable Special Assessment Bond, Series 2014, to evidence its obligation to repay the Loan (the "District Bond"). The original maturity date for the District Bond was September 1, 2016, which date has been extended through previous amendments to the Funding Agreement. The Maturity Date is currently September 1, 2022. The District, the Lender and SELF wish to enter into an amendment to the Funding Agreement (the "Fifth Amendment to Funding Agreement") in order to extend the Maturity Date of the Loan to September 1, 2024. If approved, the attached Resolution No. 137, will extend the maturity date of the line of credit contemplated by the funding Agreement to September 1, 2024. PREVIOUS ACTION: June 15, 2010 - the BOCC approved Ordinance No. 10-025, creating the Sustainability District July 3, 2012 - the District Board approved Resolution No. 2012-001, approving SELF as the District's Program Administrator August 19, 2014 - the District Board approved the Funding Agreement between the District, SELF, and Inland St. Lucie PACE, LLC FINANCIAL IMPACT: Page 4 of 11 N/A RECOMMENDATION: Staff recommends the Board approve the amendment to the funding agreement and authorization for the Chair to sign documents as approved by the County Attorney. COMMISSION ACTION: RESULT: MOVER: SECONDER: None AYES: None NAYS: None EXCUSED: None Coordination/Signatures Date: July 26, 2022 Patrick Dayan, Public Works Director Date: July 27, 2022 Daniel McIntyre, County Attorney Date: August 03, 2022 Mark Satterlee, Deputy County Administrator Page 5 of 11 1 RESOLUTION NO. 2022-137 A RESOLUTION OF THE ST. LUCIE COUNTY SUSTAINABILITY DISTRICT APPROVING A FIFTH AMENDMENT TO THE FUNDING AGREEMENT BETWEEN THE DISTRICT, THE SOLAR AND ENERGY LOAN FUND OF ST. LUCIE COUNTY, INC. AND INLAND ST. LUCIE PACE, LLC IN ORDER TO EXTEND THE MATURITY DATE OF THE LINE OF CREDIT CONTEMPLATED BY THE FUNDING AGREEMENT; APPROVING AN ALLONGE TO THE DISTRICT'S TAXABLE SPECIAL ASSESSMENT BOND, SERIES 2014, TO REFLECT THE EXTENSION OF THE MATURITY DATE; AUTHORIZING THE CHAIR AND OTHER DISTRICT OFFICIALS TO TAKE SUCH ACTIONS AND EXECUTE SUCH OTHER DOCUMENTS AS MAY BE NECESSARY TO EFFECTUATE THE PURPOSES HEREOF; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE GOVERNING BOARD OF THE ST. LUCIE COUNTY SUSTAINABILITY DISTRICT AS FOLLOWS: SECTION 1. AUTHORITY. This Resolution of the St. Lucie County Sustainability District (the "District") is adopted pursuant to the provisions of Chapter 1- 19 of the Code of Ordinances (the "Ordinance") of St. Lucie County, Florida (the "County"), Chapter 189, Florida Statutes, Section 163.08, Florida Statutes, County Resolution No. 10-259, and other applicable provisions of law. SECTION 2. DEFINITIONS.Capitalized terms not otherwise defined herein shall have the meanings set forth in the Ordinance, County Resolution No. 10-259, District Resolution No. 14-107, and the Special Assessment Funding Agreement (Energy and Sustainability Financing Program) by and between the District, Inland St. Lucie PACE, LLC (the "Lender"), and the Solar and Energy Loan Fund of St. Lucie County, Inc. ("SELF") dated as of August 19, 2014 (as amended, the "Funding Agreement"). SECTION 3. FINDINGS. It is hereby ascertained, determined and declared as follows: Page 6 of 11 2 (A) The District entered into the Funding Agreement to obtain a non-revolving line of credit from the Lender in the principal amount of $1,000,000 (the "Loan") for purposes of funding a Property Assessed Clean Energy ("PACE") financing program (the "Energy Financing Program") pursuant to which qualified Property Owners can finance the cost of Qualifying Improvements through voluntary special assessments imposed by the District. (B) Upon entering into the Funding Agreement, the District issued its Taxable Special Assessment Bond, Series 2014, to evidence its obligation to repay the Loan (the "District Bond"). (C) The original maturity date for the District Bond (the "Maturity Date") was September 1, 2016, which date has been extended through previous amendments to the Funding Agreement. (D) The Maturity Date is currently September 1, 2022. (E) The District, the Lender and SELF wish to enter into an amendment to the Funding Agreement (the "Fifth Amendment to Funding Agreement") in order to extend the Maturity Date of the Loan to September 1, 2024. SECTION 4. APPROVAL OF FIFTH AMENDMENT TO FUNDING AGREEMENT AND ALLONGE TO THE DISTRICT BOND. (A) The District hereby approves the Fifth Amendment to Funding Agreement in substantially the form attached hereto as Appendix 1. (B) The District hereby approves an allonge to the District Bond to effectuate the extension of the Maturity Date contemplated hereunder, in substantially the form attached hereto as Appendix 2 (the "Allonge"). (C) The District hereby authorizes the Chair to execute and deliver, and the Clerk of the District (the "Clerk") to attest, on behalf of the District, the Fifth Amendment to Funding Agreement and the Allonge with such changes, insertions, and additions as the Chair may approve after consultation with the County Attorney, the Chair's execution thereof being evidence of such approval and by this reference made a part hereof with Page 7 of 11 3 such changes as may be approved by the County Administrator and approved as to legal form and sufficiency by the County Attorney. (D) The Chair, the Clerk and other District officials are further authorized to take such other actions and execute and deliver any other documents which may be necessary or desirable to effectuate the purposes of this Resolution, the Fifth Amendment to Funding Agreement and the Allonge. SECTION 5. EFFECTIVE DATE. This Resolution shall take effect immediately upon its adoption. Passed and adopted by the St. Lucie County Sustainability District at a regular meeting duly called this ___ day of __________, 2022. ST. LUCIE COUNTY SUSTAINABILITY DISTRICT By: Chair ATTEST: Approved as to Form: Deputy Clerk County Attorney Page 8 of 11 APPENDIX 1 FORM OF FIFTH AMENDMENT TO FUNDING AGREEMENT FIFTH AMENDMENT TO SPECIAL ASSESSMENT FUNDING AGREEMENT (ENERGY AND SUSTAINABILITY FINANCING PROGRAM) This FIFTH AMENDMENT ("Fifth Amendment") to the SPECIAL ASSESSMENT FUNDING AGREEMENT (ENERGY AND SUSTAINABILITY FINANCING PROGRAM) (the "Funding Agreement") is made and entered into this _____ day of ______________, 2022 by and between the ST. LUCIE COUNTY SUSTAINABILITY DISTRICT (the "District"), a dependent special district of St. Lucie County, Florida, INLAND ST. LUCIE PACE, LLC (the "Lender"), and the SOLAR AND ENERGY LOAN FUND OF ST. LUCIE COUNTY, INC., a community development financial institution ("SELF"). W I T N E S E T H: WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings specified in the Funding Agreement; and WHEREAS, the Funding Agreement established a non-revolving line of credit from which the District draws funds to provide for the financing of Qualifying Improvements pursuant to Financing Agreements entered into between the District and property owners who voluntarily apply for and are approved for such financing; and WHEREAS, the Funding Agreement established the Maturity Date for the line of credit and provided for extension of the Maturity Date upon approval in writing by the Lender; and WHEREAS, the Lender has previously approved an extension of the Maturity Date from September 1, 2018, to September 1, 2022; and WHEREAS, the District has requested an additional extension of the Maturity date through September 1, 2024; and WHEREAS, the parties hereto execute this Fifth Amendment in order to provide for such extension of the Maturity Date through September 1, 2024. NOW, THEREFORE, the parties hereto agree as follows: Page 9 of 11 Section 1. Recitals Incorporated. The above recitals are true and correct and incorporated herein. Section 2. Amendments to Funding Agreement. The definition of "Maturity Date" set forth in Section 1.01 of the Funding Agreement is amended as follows, with additional text indicated by underline and with deleted text by strikethrough: "Maturity Date" means September 1, 2024 2022. Section 3. Effective Date. This Fifth Amendment shall be effective as of ___________, 2022. IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to the Funding Agreement to be duly executed as of the date first set forth herein. ST. LUCIE COUNTY SUSTAINABILITY DISTRICT (SEAL) By: Chair ATTEST: Approved as to Form: Deputy Clerk County Attorney SOLAR AND ENERGY LOAN FUND OF ST. LUCIE COUNTY, INC. By: Name: Doug Coward Title: Executive Director INLAND ST. LUCIE PACE, LLC By: Name: Mark Pikus Title: Vice President Page 10 of 11 APPENDIX 2 FORM OF ALLONGE TO ST. LUCIE COUNTY SUSTAINABILITY DISTRICT TAXABLE SPECIAL ASSESSMENT BOND, SERIES 2014 This Allonge, dated as of ________________, 2022, is to be attached to and made a part of the St. Lucie County Sustainability District Taxable Special Assessment Bond, Series 2014 dated August 19, 2014 (the "Bond"). The Bond is held by Inland St. Lucie PACE, LLC (the "Owner"). Effective as of the date hereof, the Maturity Date of the Bond shall be September 1, 2024. (SEAL)ST. LUCIE COUNTY SUSTAINABILITY DISTRICT By: Chair, Board of Commissioners ATTEST: By: Clerk of the Circuit Court, ex-officio Secretary/Treasurer of the Board of Commissioners The Owner, as the registered owner of the Bond, hereby understands, acknowledges and consents to the foregoing. Date: __________, 2022 INLAND ST. LUCIE PACE, LLC By: Name: Title: Senior Vice President This Allonge shall be appended to and shall modify and amend and become a part of the Bond. Page 11 of 11