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16-0692
| 0 | | Property Assessed Clean Energy Loan Program | Ordinance | Property Assessed Clean Energy Loan Program
FOR the purpose of establishing a Property Assessed Clean Energy Loan Program ("PACE Loan Program") to assist qualifying commercial property owners to finance energy improvements through non-accelerating PACE Loans from participating private lenders; authorizing the City to collect PACE Loan payments owed to a private lender, as well as certain PACE Program administrative costs, through a surcharge on the property owner's real property tax bill; providing that an unpaid surcharge constitutes a lien on the real property on which it is imposed; providing for the scope of and eligibility for participation in the PACE Loan Program; providing for the administration of the PACE Loan Program; establishing default procedures; defining certain terms; and providing for a special effective date. | | |
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