HomeMy WebLinkAboutMinutes 07-21-2010GREEN CDFI: SOLAR & ENERGY LOAN SUB -COMMITTEE MEETING
Minutes of Meeting
July 21, 2010
Convened: 12:35 P.M.
Adjourned: 1:50 P.M.
The meeting of the Green CDFI: Solar & Energy Loan Sub -Committee Meeting was held
on Wednesday, July 21, 2010 in Conference Room 3 of the St. Lucie County
Administration Building Annex, 2300 Virginia Avenue, Fort Pierce, Florida.
Members In Attendance:
Commissioner Chris Dzadovsky, Chairman
Aileen Pruitt, PNC Bank
Laura Hetherington, IBM SE FCU (via teleconference)
Bill Casey, Oculina Bank (via teleconference)
John Wakefield, Eco2Asset Solutions (absent, excused)
Commissioners, Staff and Guests that were present:
Commissioner Charles Grande, District 4
Charline Burgess, Aide to Commissioner Coward
Lee Ann Lowery, St. Lucie County Assistant County Administrator
Dan McIntyre, St. Lucie County Attorney
Terri Palumbo, Ex. Aide to Comm. Dzadovsky
Roberta Breene, St. Lucie County Grants
Glenn Henderson, St. Lucie County Grants
Dan Kurek, Pres. Financial Services
Frank Slifka, Climatic Solar
John Daly, Innovative Energy
Roy Swenson, Solar Energy Solutions
Peter Merritt, Treas. Coast Regional Planning Council
Tom Cooper, AIA Treasure Coast
Geoff Gow, Energy Lock Solar
Green CDFI: Solar & Energy Loan Sub -Committee Meeting
July 21, 2010 Page 1
ITEM 1 N CALL TO ORDER:
The meeting was called to order at 12:35 p.m. by Commissioner Dzadovsky.
ITEM 2 N SELF -INTRODUCTIONS:
Commissioner Dzadovsky and those in attendance gave self -introductions. It was noted
that Ms. Laura Hetherington and Mr. Bill Casey were joining the meeting via
teleconference.
Commissioner Dzadovsky explained the duties of the loan committee and how this is a
learning process for all of us. He asked Dan McIntyre, Co. Atty what the protocol was
for the committee and whether or not we needed a quorum.
Mr. McIntyre stated that until the Solar Loan Fund papers are filed for incorporation,
(which was being done today) the meeting today can be informal discussion, but we
have a quorum here today.
ITEM 3 N DISCUSSION OF MAJOR ISSUES (e.a., Rebates, Tax Credits,
Residential and Non -Residential Loans:)
Commissioner Dzadovsky asked the members for input on rebates, tax credits and
loans. He said we need a timeline to define applications from beginning to end:
Terms for each type of loan, i.e. 5 yr water heater or solar PV or 30 yr., etc. and what's
up front? Loan fund sustainability interest rates, and how do we deal with rebates and
tax credits?
Discussion ensued among the members and several suggestions were made regarding
how the rebate is usually handled by the vendor, deducting it from the total bill, and the
rebate comes back to the vendor. Tax credits are handled by the customer.
Commissioner Dzadovsky said that those options should be put in the CDFI loan
application.
ITEM 4 N REVIEW OF OTHER CDFI LOAN APPLICATIONS:
Commissioner Dzadovsky asked whether or not any of the members had had a chance
to go over the samples of applications that had been sent out to them.
Ms. Laura Hetherington stated that she had reviewed most of them and had about 18
issues that she thought should be addressed in their loan policy.
Ms. Aileen Pruitt stated that she had reviewed some of them, but found that with so
many to choose from, it became confusing.
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July 21, 2010 Page 2
ITEM 5 N SELECT APPLICATION TEMPLATE TO REFINE:
Commissioner Dzadovsky asked for a recommendation from the members on which
application they would like to use as a template. He said the one that is chosen, he
would ask Charline to put it in a Word format instead of PDF format so that the wording
could be changed, deleted or struck through.
After a lengthy discussion Bill Casey made a motion they would use the Berkeley First
application as a template. The motion was seconded and approved by voice vote.
Mr. McIntyre stated that maybe more progress could be made if the policies were in
front of them. He suggested that Dan Kurek take the lead on this.
Commissioner Dzadovsky said that maybe we could contract with Mr. Kurek to stream-
line suggestions made by the members. He is a banker and familiar with county
government restraints.
Mr. Kurek stated that he knows someone he could talk to in New York that may have a
CDFI policy. He said that he could have a working draft to the group by July 301"
Ms. Roberta Breene stated that they could contract with Mr. Kurek with a grant funded
Specialist Agreement. She said, depending on the amount, the County Administrator
could sign the agreement, or she might have to take it before the County Commission.
She said an interim Executive Director could be hired for now and later hire the
Executive Director. She said that once you draw money on the grant, the clock starts
and you have 36 months in which to use the funds.
Mr. Casey said that it would probably take at least 3 hours to go over the application
draft page by page, so it is really important that all members be present at the next
meeting.
ITEM 6 N GENERAL DISCUSSION:
Commissioner Dzadovsky asked if anyone had anything further that they wanted to
discuss.
There was a brief discussion on defining the LMI board.
Commissioner Dzadovsky said with respect to who qualifies for LMI loan, Ft. Pierce has
done a study and we would try and get a copy of that information.
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July 21, 2010 Page 3
ITEM 7 N ADJOURN:
Commissioner Dzadovsky thanked everyone for attending the meeting today, and also
asked Ms. Laura Hetherington and Bill Casey (via telephone) if they had any other
comments.
Ms. Hetherington and Mr. Casey said "no."
There being no further business, the meeting was adjourned at 1:50 p.m.
Respectfully submitted by: Charline Burgess, Aide to Commissioner Doua Coward.
Green CDFI: Solar & Energy Loan Sub -Committee Meeting
July 21, 2010 Page 4