 People respond better to laws that give them some benefit and not just restrict their ability to live  An economic incentive will motivate people to the region and not push them away

 Why?  Results based off of the Georgia Entertainment Industry Investment Act of 2008  Imitation is the highest form of flattery

 More than 26 feature films were filmed in Georgia during the 2009 fiscal year*  Features include:  The Blind Side  The Crazies  Zombieland  The Last Song  Why Did I get Married Too *Source: Augusta Chronicle

 180 Commercials  29 Music Videos  14 Feature films  12 Independent Films  78 Episodic and Television  Total Combined Budgets: $716.7 million Source: Dept of Economic Development, Georgia Film, Music & Digital Entertainment Office

 348 Number of Combined Productions  $770.2 million Total value of all production budgets  $1.3 billion Economic Impact Source: Dept of Economic Development, Georgia Film, Music & Digital Entertainment Office (including interactive video games)

 Most of the filming has only taken place in Atlanta or Savannah  Recently, there was filming in 50 counties in Georgia  Georgia has a total of 159 counties *Source: Augusta Chronicle

 Easy for industries to know where they get breaks  Migration of workers, experts, and students in specific areas to certain parts of the metro region

 Biotechnology  Ecommerce & Online Auctions  Voice over Internet Providers  Environmental Consulting  Recycling Facilities  Land Development Josh Spiro, The Best and Worst Industries of the Next Decade (2010),

 To keep counties from competing with each other  Businesses will view the region with stability since the General Assembly have shown control

 Board of Regents of the University System of Georgia  Develop training programs for schools located within designated regions  The values of an educated workforce  Who works the cold room?  How school developments impact in the surrounding community

Chevy Volt Nissan Leaf Ford Focus Electric

 What is PACE used to finance?  Advantages associated with using PACE bonds  Differences in PACE for the various states with enabling legislation

 Joe Biden, Steven Chu, and Shaun Donovan   Bill Clinton 

1. The passage of state enabling legislation allowing for special municipal taxing districts 2. Municipality (city or county) creates a special “PACE” district 3. PACE districts issues a PACE master bond 4. Commercial/residential real estate owners apply for PACE funds to install hyper energy efficiency measures and renewable energy production 5. PACE funding treated as senior “property tax lien” and repaid by real estate owner over 20 years as an annual property tax surcharge

States with legislation enabling PACE Financing  California (AB 811)  Colorado (HB )  Illinois (SB 583)  Louisiana (SB 224)  Maryland (HB 1567)  Nevada (SB 398)  New Mexico (HB 572)  Ohio (BH 1)  Oklahoma (SB 668)  Oregon (HB 2181 & 2626)  Texas (HB 1391 & HB 1937)  Vermont (H 446)  Virginia (SB 1212)  Wisconsin (AB 255)

 The amount of seniority to the existing mortgage created by a PACE lien will typically represent less than 1% of home value  This is because in most PACE states, upon foreclosure, only the delinquent tax lien gets paid (not the whole PACE loan) while the homeowner assumes the remaining balance  Assumptions:  Home Value: $300,000  Mortgage: $250,000  PACE Lien: $15,000(5% of home value)  Annual PACE: $1,392(7% rate, 20 year amortization)  Property Surcharge  Average Period Between Less than 12 months  Delinquency and Foreclosure  Assume 1 year PACE surcharge is delinquent and paid ahead of the mortgage: Senior Payment:$1,392  % of Home Value:.5%  % of Existing Mortgage:.6%

 Texas   California  08/bill/asm/ab_ /ab_811_bill_ _chaptered.pdf 08/bill/asm/ab_ /ab_811_bill_ _chaptered.pdf  Georgia  b1388.pdf b1388.pdf

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