Source: https://www.ecode360.com/32440016
Timestamp: 2018-12-11 19:06:16
Document Index: 51223084

Matched Legal Cases: ['§ 242', '§ 242', '§ 242', '§ 242', '§ 242', '§ 242', '§ 242', '§ 242', '§ 1411', '§ 242', '§ 242', '§ 242', '§ 242', '§ 242', '§ 242']

Town of Busti, NY Energize NY Benefit Financing Program
§ 242-1 Legislative findings; intent and purpose; authority.
§ 242-3 Establishment of Energize NY Benefit Financing Program.
§ 242-4 Procedures for eligibility.
§ 242-5 Application criteria.
§ 242-6 Opt-in; Energize Finance Agreement.
§ 242-7 Energy audit; renewable energy system feasibility study.
§ 242-8 Terms and conditions of repayment.
§ 242-9 Verification and report.
Chapter 242: Energize NY Benefit Financing Program
[HISTORY: Adopted by the Town Board of the Town of Busti 12-5-2016 by L.L. No. 5-2016. Amendments noted where applicable.]
Energy benchmarking — See Ch. 240.
Chapter 242 : Energize NY Benefit Financing Program
It is the policy of both the Town of Busti 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 Town of Busti 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 Town of Busti, 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 chapter and fulfilling an important public purpose.
The Town of Busti is authorized to implement this Energize NY Benefit Financing Program pursuant to 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 Town of Busti."
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 Town of Busti 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 Town of Busti tax collector as a charge to be levied on the real property and collected in the same manner and same form as the Town of Busti taxes.
An owner of residential or commercial real property located within the boundaries of the Town of Busti that is determined to be eligible to participate in the Energize NY Benefit Financing Program under the procedures for eligibility set forth under this chapter.
An energy generating system for the generation of electric or thermal energy, to be used primarily at such 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 Town of Busti, whereby EIC, acting on its behalf, may provide funds to qualified property owners in accordance with the procedures set forth under this chapter, 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.
The funds provided shall not exceed the lesser of ten percent of the appraised value of the real property where the renewable energy systems and/or energy efficiency improvements will be located, or 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 Town of Busti may submit 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 Town of Busti offices.
Every application submitted by a property owner shall be reviewed by EIC acting on behalf of the Town of Busti, which shall make a positive or negative determination on such application based upon the criteria for making a financing enumerated in § 242-5A of this chapter. 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 Town of Busti, 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 § 242-6 of this chapter; 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 Town of Busti, shall make a positive or negative determination on such application based upon the following criteria for the making of a financing:
The proposed energy efficiency improvements and/or renewable energy systems are determined to be cost effective by the Authority;
The proposed energy efficiency improvements and/or renewable energy systems will generate an estimated annual cost savings greater than the annual charge payments;
Sufficient funds are available to provide to the property owner;
The property owner is current in payments of any existing real property taxes and has been current on real property taxes for the previous three years; and
Such additional criteria, not inconsistent with the criteria set forth above, as the Town of Busti 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 Finance Agreement made by and between the qualified property owner and EIC, acting on the behalf of the Town of Busti.
Upon execution of the Energize Finance Agreement, the qualified property owner shall be eligible to receive funds from EIC acting on behalf of the Town of Busti, for the acquisition, construction, and installation of qualifying renewable energy systems and energy efficiency improvements; provided the requirements of § 242-7 of this chapter have been met.
The Energize Finance Agreement shall include the terms and conditions of repayment set forth under § 242-8 of this chapter.
No funds shall be made available for energy efficiency improvements unless determined to be appropriate through an Energy Audit as defined in § 242-2.
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 § 242-2.
The Energize Finance Agreement between the qualified property owner and EIC acting on behalf of the Town of Busti, 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 their Town of Busti tax bill and shall be levied and collected at the same time and in the same manner as Town of Busti property taxes, provided that such charge shall be separately listed on the tax bill. The Town of Busti shall make payment to EIC or its designee in the amount of all such separately listed charges within 30 days of the Town of Busti tax due date.
The term of such repayment shall be determined at the time the Energize 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 Town of Busti.
The rate of interest for the charge shall be fixed by EIC acting on behalf of the Town of Busti at the time the Energize Finance Agreement is executed by the property owner and EIC.
The charge shall constitute a lien upon the real property benefited by the Energize NY Benefit Financing Program and shall run with the land. A transferee of title to the benefited real property shall be required to pay any future installments, including interest thereon.
EIC shall be responsible for verifying and reporting to the Town of Busti on the installation and performance of renewable energy systems and energy efficiency improvements financed by such program.
The Town of Busti 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.