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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
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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.
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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.
