Source: https://ecode360.com/27393406
Timestamp: 2019-04-23 01:01:40
Document Index: 52686688

Matched Legal Cases: ['§ 284', '§ 284', '§ 284', '§ 284', '§ 284', '§ 284', '§ 284', '§ 284', '§ 1411', '§ 284', '§ 284', '§ 284', '§ 284', '§ 284', '§ 284']

City of New Rochelle, NY Sustainable Energy Loan Program
§ 284-1 Legislative findings; intent and purpose; authority; title.
§ 284-3 Establishment of Energize NY Benefit Financing Program.
§ 284-4 Procedures for eligibility.
§ 284-5 Application criteria.
§ 284-6 Opt-in; Energize NY Finance Agreement.
§ 284-7 Energy audit; renewable energy system feasibility study.
§ 284-8 Terms and conditions of repayment.
§ 284-9 Verification and report.
Chapter 284 Sustainable Energy Loan Program
[HISTORY: Adopted by the Council of the City of New Rochelle 7-16-2013 by L.L. No. 1-2013. Amendments noted where applicable.]
It is the policy of both the City of New Rochelle and the State of New York to achieve energy efficiency and renewable energy goals, reduce greenhouse gas emissions, mitigate the effect of global climate change, and advance a clean energy economy. The City of New Rochelle finds that it can fulfill this policy by providing property assessed clean energy financing to property owners for the installation of renewable energy systems and energy efficiency measures. This chapter establishes a program that will allow the Energy Improvement Corporation ("EIC"), a local development corporation, acting on behalf of the City of New Rochelle pursuant to the municipal agreement to be entered into between the City of New Rochelle and EIC pursuant to Article 5-G of the New York General Municipal Law (the "Municipal Agreement"), to make funds available to qualified property owners that will be repaid by such property owners through charges on the real properties benefited by such funds, thereby fulfilling the purposes of this law and fulfilling an important public purpose.
The City of New Rochelle is authorized to implement this Energize NY Benefit Financing Program pursuant to the Municipal Home Rule Law and Article 5-L of the New York General Municipal Law.
This chapter shall be known and may be cited as the "Energize NY Benefit Financing Program Law of the City of New Rochelle."
For purposes of this law, and unless otherwise expressly stated or unless the context requires, the following terms shall have the meanings indicated:
The Energy Improvement Corporation, a local development corporation, duly organized under § 1411 of the Not-For-Profit Corporation Law, authorized hereby on behalf of the City of New Rochelle to implement the Energize NY Benefit Financing Program by providing funds to qualified property owners (as defined in this chapter) and providing for repayment of such funds from monies collected by the City of New Rochelle tax collecting officer as a charge to be levied on the real property and collected in the same manner and same form as the City of New Rochelle taxes.
An owner of residential or commercial real property located within the boundaries of the City of New Rochelle that is determined to be eligible to participate in the Energize NY Benefit Financing Program under the procedures for eligibility set forth under this law.
An energy-generating system for the generation of electric or thermal energy, to be used primarily at such property, except when the Qualified Property Owner is a commercial entity, in which case the system may be used for other properties in addition to the subject property, by means of solar thermal, solar photovoltaic, wind, geothermal, anaerobic digester gas-to-electricity systems, fuel cell technologies, or other renewable energy technology approved by the Authority not including the combustion or pyrolysis of solid waste.
An Energize NY Benefit Financing Program is hereby established by the City of New Rochelle, whereby EIC acting on its behalf pursuant to the Municipal Agreement, may provide funds to Qualified Property Owners in accordance with the procedures set forth under this law, to finance the acquisition, construction and installation of Renewable Energy Systems and Energy Efficiency Improvements and the verification of the installation of such systems and improvements.
For funds provided to a Qualified Property Owner which is a commercial entity, not-for-profit organization, or entity other than an individual, the governing body shall have the authority to impose requirements on the maximum amount of funds to be provided, which may consider factors including but not limited to the property value, projected savings, project cost, and existing indebtedness secured by such property.
For financing made to a Qualified Property Owner who is an individual, the funds provided shall not exceed the lesser of: i) 10% of the appraised value of the real property where the Renewable Energy Systems and/or Energy Efficiency Improvements will be located, or ii) the actual cost of installing the Renewable Energy Systems and/or Energy Efficiency Improvements, including the costs of necessary equipment, materials, and labor and the cost of verification of such systems and improvements.
Any property owner in the City of New Rochelle may submit an application to EIC on such forms as have been prepared by EIC and made available to property owners on the website of EIC and at the City of New Rochelle offices.
Every application submitted by a property owner shall be reviewed by EIC, acting on behalf of the City of New Rochelle, which shall make a positive or negative determination on such application based upon the criteria for making a financing enumerated in § 284-5 of this law. EIC may also request further information from the property owner where necessary to aid in its determination.
If a positive determination on an application is made by EIC acting on behalf of the City of New Rochelle, the property owner shall be deemed a Qualified Property Owner and shall be eligible to participate in the Energize NY Benefit Financing Program in accordance with the procedure set forth under § 284-6 of this law; provided that in no case shall a property owner that has received funds from another municipal corporation for the acquisition, construction and installation of Energy Efficiency Improvements and/or Renewable Energy Systems be deemed a Qualified Property Owner.
Upon the submission of an application, EIC, acting on behalf of the City of New Rochelle, shall make a positive or negative determination on such application based upon the following criteria for the making of a financing:
Such additional criteria, not inconsistent with the criteria set forth above, as the City of New Rochelle, or EIC acting on its behalf, may set from time to time.
A Qualified Property Owner may participate in the Energize NY Benefit Financing Program through the execution of an energize NY finance agreement made by and between the Qualified Property Owner and EIC, acting on the behalf of the City of New Rochelle (the "Energize NY Finance Agreement").
Upon execution of the Energize NY Finance Agreement, the Qualified Property Owner shall be eligible to receive funds from EIC acting on behalf of the City of New Rochelle, for the acquisition, construction, and installation of qualifying Renewable Energy Systems and Energy Efficiency Improvements, provided that the requirements of § 284-7 of this chapter have been met.
The Energize NY Finance Agreement shall include the terms and conditions of repayment set forth under § 284-8 of this law.
No funds shall be made available for Energy Efficiency Improvements unless determined to be appropriate through an Energy Audit as defined in § 284-2.
No funds shall be made available for a Renewable Energy System unless determined to be feasible through a Renewable Energy System Feasibility Study as defined in § 284-2.
The Energize NY Finance Agreement between the Qualified Property Owner and EIC acting on behalf of the City of New Rochelle, shall set forth the terms and conditions of repayment in accordance with the following:
The principal amount of the funds paid to the Qualified Property Owner hereunder, together with the interest thereon, shall be paid by the property owner as a charge on his or her City of New Rochelle tax bill and shall be levied and collected at the same time and in the same manner as City of New Rochelle property taxes, provided that such charge shall be separately listed on the tax bill. The City of New Rochelle shall make payment to EIC or its designee in the amount of all such separately listed charges within 30 days of the City of New Rochelle date the payment is due to be made to City of New Rochelle.
The term of such repayment shall be determined at the time the Energize NY Finance Agreement is executed by the property owner and EIC, provided that in no case shall the term exceed the weighted average of the useful life of the systems and improvements as determined by EIC acting on behalf of the City of New Rochelle.
EIC shall be responsible for verifying and reporting to the City of New Rochelle on the installation and performance of Renewable Energy Systems and Energy Efficiency Improvements financed by such Program.
The City of New Rochelle shall verify and report on the installation and performance of Renewable Energy Systems and Energy Efficiency Improvements financed by the Energize NY Benefit Financing Program in such form and manner as the Authority may establish.