The Fulton City Council tabled an ordinance that would allow the Property Assessed Clean Energy program to fund local energy-efficient projects at a work session preceding its regular meeting Tuesday.
Show Me PACE, a non-profit organization based in Jefferson City, approached the council concerning the approval of an ordinance that would allow commercial entities to use PACE funding for energy-efficient projects.
The projects, which would be required to be energy-efficient, use renewable energy or conserve water, would be eligible for commercial, industrial, agricultural, nonprofit and government buildings, according to a presentation.
During the presentation, program manager Jan Schumacher told council members the specifications for using PACE to fund projects. For a project to be approved, it would have to have expected savings greater than the loan and affixed to a property in a participating municipality.
In terms of funding, PACE would pay for all of the project's costs, which would be repaid for up to 20 years with an assessment added to the property tax bill, according to information presented.
"PACE creates local jobs because the projects are based in the town," Schumacher said. "It's good for economical development and it also protects the environment."
According to information provided by Schumacher, the city would not be responsible for covering costs or committing additional responsibilities to be involved in the project. Furthermore, no liability would fall on the municipality. However, in order for PACE to be involved in projects in Fulton, the city would be required to pass an ordinance that allows PACE to utilize property assessment information from the county assessor's office.
Councilman Richard Vaughn made a motion to do a second reading of the proposed ordinance at the council's next meeting March 22, which councilman Steve Moore seconded. However, a motion to table the ordinance overruled the previous motion. Mayor LeRoy Benton and other council members will look more closely at the ordinance language and also inform the public of the proposal.
The council also approved Brick District representative Garry Vaught's request to close the 500 block of Court Street on April 23 for the fourth annual Morels and Microbrews Festival.