Energy Improvement District No. 1
- 5:30 PM
- 2nd Monday of every other month
- Fayetteville City Administration Building
113 W. Mountain Street
Fayetteville, AR 72701
The Energy Improvement District Number 1 was created on October 15, 2013 by Ordinance 5624, to implement and manage Property Assessed Clean Energy (PACE) for the City of Fayetteville. On June 21, 2016 Ordinance 5883 passed changing the membership agreement allowing the City of Springdale to become a member.
PACE is a creative financing mechanism that allows property owners to borrow money for weatherization, energy efficiency, renewable energy or water conservation improvements to their property. The security of tying the repayment of loans to property tax assessments combined with low default rates allow PACE to offer very low and extremely attractive interest rates for these improvement loans. PACE is a completely voluntary program that enables private investment for the purpose of energy savings.
PACE enabling legislation was passed by the Arkansas Legislature in the 2013 session and signed by the Governor in April 2013. That legislation allows Cities, Counties or the State to create Energy Improvement Districts within the State of Arkansas. The Arkansas Legislature noted that Energy Improvement Districts would benefit Arkansas by:
Creating jobs and stimulating the economy
Generating significant economic development
Improving the state's air quality and conserving natural resources
Increasing the value of real property
Promoting energy independence and security for the nation and state
Protecting citizens from the rising cost of electricity and non-renewable fuels
Providing a positive cash flow on energy improvements
Providing citizens with options for financing improvements that are otherwise not available
If the Mayor appoints a designee he or she shall serve at the pleasure of the Mayor. Terms of all other members shall be two (2) years. In making its Board appointments, the City Council shall give due consideration to candidates with connections to or relations with local utility companies, lending or bonding institutions, and the advanced energy industry. City Council appointed members shall be subject to the term limit provisions of Section 33.329(B).
Energy Improvement District Number 1 shall be governed by a Board of Directors consisting of nine members.
One member shall be the Mayor of Fayetteville or the Mayor's designee
One member shall be the Mayor of Springdale or the Mayor's designee
Four members shall be electors of the District chosen by the Fayetteville City Council
Three members shall be electors of the District chosen by the Springdale City Council
Vacancies on the Board are filled by appointment from the governing body of the City.
A weekly meetings list is prepared by the Office of the City Clerk Treasurer; it is distributed to the press and posted online.
- Sloan Scroggin
- Anthony Miletus Callahan-Barile
- Joseph Donahue
- Josh Carson