July 16-PACE- Restore PACE or Resign

Subject: ICLEI to FHFA Acting Director: Restore PACE or Resign ---------- Forwarded message ---------- From: Don Knapp <don.kn...@iclei.org> Date: Jul 16, 1:54 pm Subject: ICLEI to FHFA Acting Director: Restore PACE or Resign To: PACE Discussion http://www.icleiusa.org/blog/iclei-usa-to-fhfa-director-restore-pace-... ICLEI USA continues to exert pressure on federal decision-makers to reverse their policy and save local governments' property-assessed clean energy (PACE) programs. Today, we joined members of Congress in calling for Federal Housing Finance Agency Acting Director Edward DeMarco to step down, unless he works with local governments to restore critical funding to PACE programs in 22 states including California. Martin Chavez, ICLEI USA Executive Director, released the following statement: Acting Director DeMarco should take a deep breath, apologize to the American people for distorting the record on PACE, and reverse course. If he's not willing to restore PACE funding as requested by Congress, he should follow their suggestion and resign. In recent public comments, Acting Director DeMarco has falsely described Property Assessed Clean Energy (PACE) programs as "loans" and "credit risks," which is both misleading and inaccurate. Mr. DeMarco's comments follow recent actions by the FHFA at the direction of loan giants Fannie Mae and Freddie Mac that severely restrict a local government's ability to implement PACE-enabling programs. In responding to a recent lawsuit filed by California Attorney General, Jerry Brown, on behalf of local governments, Mr. DeMarco said his agency will fight Brown's lawsuit in order to protect 'taxpayers, lenders and both mortgage programs [Fannie and Freddie]." "We should not allow Acting Director DeMarco to destroy one of the most innovative and energy efficient tools available to homeowners and local governments today," said *Patrick Hays, Mayor of North Little Rock, AR, President of ICLEI USA, and Chairman of the Board of Directors*. "As a mayor, I am reminded everyday of the realities of persistently high unemployment, a fragile economy and the impact that climate change is having on our communities. Sadly, it appears that Mr. DeMarco is putting Freddie and Fannie's interests first on his list, leaving the American taxpayer behind," added Mayor Hays. Contrary to Mr. DeMarco's statements, PACE programs do not operate using traditional loan mechanisms. Local governments instead finance the upfront costs through tax assessments, which are paid incrementally in small amounts through a homeowner's annual property tax bills. Similar assessment mechanisms are used by local governments and municipalities to fund sewers, sidewalks, schools, hospitals and other public projects. "As a government official and a head of a federally mandated agency designated to protect taxpayers, it appears Acting Director DeMarco is more interested in protecting Fannie and Freddie rather than helping homeowners during this devastating economy," said *Martin J. Chavez, Executive Director, ICLEI USA and three-term mayor of Albuquerque, NM*. "Mr. DeMarco has severely damaged his credibility with Members of Congress and the American people by refusing to restore funding to innovative PACE programs that reduce energy and create much needed jobs in California and 21 other states," added Mayor Chavez. Recently, several Members of Congress led by Rep. Steve Israel (D-NY) sent a letter to Acting Director DeMarco asking him to step down from his position if he could not find a workable resolution to the new FHFA restrictions to PACE programs. ICLEI USA has launched a nationwide effort calling on its 600+plus members across the country to contact the President and Congress, particularly the key committees with oversight authority to overturn the new FHFA regulations. Some of the states that are currently engaged in PACE include, AZ, MD, OR, CA, NV, TX, CO, NM, VT, FL, NY, VA, HI, NC, WI, IL, OH, LA, OK, among others. -- Don Knapp Senior Communications Officer ICLEI-Local Governments for Sustainability USA 436 14th St., Suite 1520 Oakland, CA 94612 Tel: (510) 844-0699, Ext. 315 Fax: (510) 844-0698 Website:www.icleiusa.org ================================ Register Now for the 2010 ICLEI Local Action Summit! (Em)Powering Sustainable Communities Tools - Partnerships - Solutions Washington, DC, September 24-26 To register, go towww.icleiusa.org/localactionsummit ================================= ICLEI USA's mission is to build, serve and drive a movement of local governments to advance deep reductions in greenhouse gas emissions and achieve tangible improvements in local sustainability. This e-mail is intended only for the individual or entity named above. Any views or opinions presented are solely those of the author and may be confidential. ICLEI USA does not accept liability for any loss or damage that may result from this e-mail or any attached document.

		ICLEI USA
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About me:		ICLEI- Local Governments for Sustainability (ICLEI) is a membership association of local governments committed to advancing climate protection and sustainable development. Since its inception in 1993, ICLEI has grown to include nearly 1,000 cities in the world, more than 300 of which are in the United States. To help members achieve tangible reductions in greenhouse gas emissions and environmental impacts, ICLEI provides: tools, technical expertise, software training, policy assistance and national and international peer networks. Through this work, ICLEI helped local governments reduce their greenhouse gas emissions by 23 million tons in 2005 alone. This translates into about $600 million in annual cumulative savings, largely on energy expenditures. Local governments have led the effort in recent years to envision, accelerate and achieve strong climate protection goals, and ICLEI is proud to support and facilitate their efforts to create cleaner, healthier, economically viable communities.
Recent Activity:		Activity in PACE Discussion (3) ICLEI to FHFA Acting Director: Restore PACE or Resign 17 hours ago Download Now: ICLEI's Save PACE Action Kit 36 hours ago California Sues Feds Over PACE, ICLEI Applauds Move 40 hours ago Items shown with a shaded background are only visible to members of that group.

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