Source: https://ecode360.com/33218570
Timestamp: 2020-07-06 16:42:08
Document Index: 333550977

Matched Legal Cases: ['§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 1411', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 149', '§ 10', '§ 10', '§ 149', '§ 149', '§ 1411', '§ 149', '§ 149', '§ 149', '§ 149', '§ 902']

City of Schenectady, NY Energize NY Benefit Financing Programs
Ch 149 Art I Energize NY Benefit Financing Program
§ 149-1 Legislative findings, intent and purpose, authority.
§ 149-3 Establishment of program.
§ 149-4 Procedures for eligibility.
§ 149-5 Application criteria.
§ 149-6 Opt-in, Energize NY finance agreement.
§ 149-7 Energy audit, renewable energy system feasibility study.
§ 149-8 Terms and conditions of repayment.
§ 149-9 Verification and report.
Ch 149 Art II Energize NY Open C-PACE Financing Program
§ 149-10 Legislative findings, intent and purpose, authority.
§ 149-11 Definitions.
§ 149-12 Establishment of program.
§ 149-13 Procedures for eligibility.
§ 149-14 Application criteria.
§ 149-15 Energize NY finance agreement.
§ 149-16 Terms and conditions of repayment.
§ 149-17 Levy of annual installment amount and creation of annual installment lien.
§ 149-18 Verification and report.
§ 149-19 Severability.
Chapter 149 Energize NY Benefit Financing Programs
Energy Advisory Board — See Ch. 146.
Article II Energize NY Open C-PACE Financing Program
[Adopted 2-12-2018 by L.L. No. 1-2018[1]]
Editor's Note: This article also superseded former Ch. 149, Energize NY Benefit Financing Program, adopted 2-8-2016 by L.L. No. 2-2016.
It is the policy of both the City of Schenectady 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 Schenectady 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 Schenectady pursuant to the municipal agreement to be entered into between the City of Schenectady 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 article and fulfilling an important public purpose.
The City of Schenectady 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 article shall be known and may be cited as the "Energize NY Benefit Financing Program Law of the City of Schenectady."
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 Schenectady to implement the Energize NY Benefit Financing Program by providing funds to qualified property owners (as defined in this article) and providing for repayment of such funds from monies collected by the City of Schenectady 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 Schenectady taxes.
An owner of residential or commercial real property located within the boundaries of the City of Schenectady that is determined to be eligible to participate in the Energize NY Benefit Financing Program under the procedures for eligibility set forth under this article.
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 Schenectady, 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 article, 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.
Any property owner in the City of Schenectady 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 Schenectady offices.
Every application submitted by a property owner shall be reviewed by EIC acting on behalf of the City of Schenectady, which shall make a positive or negative determination on such application based upon the criteria for making a financing enumerated in § 149-5 of this article. 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 Schenectady, 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 § 149-6 of this article; 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 Schenectady, 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 Schenectady, 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 Schenectady (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 Schenectady, for the acquisition, construction, and installation of qualifying renewable energy systems and energy efficiency improvements; provided the requirements of § 149-7 of this article have been met.
The Energize NY finance agreement shall include the terms and conditions of repayment set forth under § 149-8 of this article.
No funds shall be made available for energy efficiency improvements unless determined to be appropriate through an energy audit as defined in § 149-2.
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 § 149-2.
The Energize NY finance agreement between the qualified property owner and EIC, acting on behalf of the City of Schenectady, 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 City of Schenectady tax bill and shall be levied and collected at the same time and in the same manner as City of Schenectady property taxes, provided that such charge shall be separately listed on the tax bill. The City of Schenectady shall make payment to EIC or its designee in the amount of all such separately listed charges within 30 days of the date the payment is due to be made to City of Schenectady.
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 Schenectady.
The rate of interest for the charge shall be fixed by EIC acting on behalf of the City of Schenectady at the time the Energize NY finance agreement is executed by the property owner and EIC.
EIC shall be responsible for verifying and reporting to the City of Schenectady on the installation and performance of renewable energy systems and energy efficiency improvements financed by such program.
The City of Schenectady 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.
[Adopted 6-24-2019 by L.L. No. 1-2019]
It is the policy of both the municipality and the State of New York (the "State") to achieve energy efficiency and renewable energy improvements, reduce greenhouse gas emissions, mitigate the effect of global climate change, and advance a clean energy economy. The municipality finds that it can fulfill this policy by providing property assessed clean energy financing to qualified property owners (as defined below) for the installation of renewable energy systems and energy efficiency measures. This article establishes a program that will allow the Energy Improvement Corporation (as defined below, "EIC"), a local development corporation, acting on behalf of the municipality pursuant to the municipal agreement (the "Municipal Agreement") to be entered into between the municipality and EIC, to make funds available to qualified property owners that will be repaid through charges on the real properties benefited by such funds, thereby fulfilling the purposes of this article and accomplishing an important public purpose. This article provides a method of implementing the public policies expressed by, and exercising the authority provided by, Article 5-L of the General Municipal Law (as defined below, the "Enabling Act").
The municipality is authorized to execute, deliver and perform the Municipal Agreement and otherwise to implement this Energize NY Open C-PACE Financing Program pursuant to the Constitution and laws of New York, including particularly Article IX of the Constitution, § 10 of the Municipal Home Rule Law, the Enabling Act and this article.
This article, which is adopted pursuant to § 10 of the Municipal Home Rule Law and the Enabling Act, shall be known and may be cited as the "Energize NY Open C-PACE Local Law."
Shall have the meaning assigned in § 149-17B.
Shall have the meaning assigned in § 149-12A.
The Energy Improvement Corporation, a local development corporation, duly organized under § 1411 of the Not-For-Profit Corporation Law of the State, authorized hereby on behalf of the municipality to implement the program by providing funds to qualified property owners and providing for repayment of such funds from money collected by or on behalf of the municipality as a charge to be levied on the real property.
The finance agreement described in § 149-15A of this article.
The City of Schenectady, a municipality of the state constituting a tax district as defined in Section 1102 of the Real Property Tax Law of the state.
NON-MUNICIPAL LIEN
Any real property other than a residential building containing less than three dwelling units, which is within the boundaries of the municipality that has been determined to be eligible to participate in the Program under the procedures for eligibility set forth under this article and the Enabling Act and has become the site of a qualified project.
The owner of record of qualified property which has been determined by EIC to meet the requirements for participation in the program as an owner, and any transferee owner of such qualified property.
As of any date, the aggregate amount of principal loaned to the qualified property owner for a qualified project, together with eligible costs and financing charges, as provided herein or in the finance agreement, as reduced pursuant to § 149-17C.
An Energize NY Open C-PACE Financing Program is hereby established by the municipality, whereby EIC, acting on its behalf pursuant to the municipal agreement, may arrange for the provision of funds by financing parties to qualified property owners in accordance with the Enabling Act and the procedures set forth under this article, to finance the acquisition, construction, reconstruction, and installation of qualified projects and eligible costs and financing charges approved by EIC and by the financing party under the finance agreement. EIC, on behalf of the municipality, and with the consent of the benefited property owner, will record a benefit assessment lien on the benefited property in the secured amount (the "benefit assessment lien") on the land records for the municipality. Such recording shall be exempt from any charge, mortgage recording tax or other fee in the same manner as if recorded by the municipality.
Any property owner in the municipality 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 municipality's offices.
Every application submitted by a property owner shall be reviewed by EIC, acting on behalf of the municipality, which shall make a positive or negative determination on such application based upon the criteria enumerated in the Enabling Act and § 149-14 of this article. 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 municipality, the property owner shall be deemed a qualified property owner and shall be eligible to participate in the program in accordance with § 149-15 of this article.
Upon the submission of an application, EIC, acting on behalf of the municipality, 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 state, the municipality, or EIC acting on its behalf, or other financing parties may set from time to time.
A qualified property owner may participate in the Program through the execution of a finance agreement made by and between the qualified property owner and a financing party, to which EIC, on behalf of the municipality, shall be a third-party beneficiary (the "finance agreement"). Upon execution and delivery of the finance agreement, the property that is the subject of the finance agreement shall be deemed a benefited property.
Upon execution and delivery of the finance agreement, the benefited property owner shall be eligible to receive funds from the financing party for the acquisition, construction, and installation of a qualified project, together with eligible costs and financing charges approved by EIC and by the financing party, provided the requirements of the Enabling Act, the municipal agreement and this article have been met.
The principal amount of the funds, loaned to the benefited property owner for the qualified project, together with eligible costs and financing charges approved by EIC and by the financing party, shall be specially assessed against the benefited property and will be evidenced by a benefit assessment lien recorded against the benefited property on the land records on which liens are recorded for properties within the municipality. The special benefit assessment shall constitute a "charge" within the meaning of the Enabling Act and shall be collected in annual installments in the amounts certified by the financing party in a schedule provided at closing and made part of the benefit assessment lien. Said amount shall be annually levied, billed and collected by EIC, on behalf of the municipality, and shall be paid to the financing party as provided in the finance agreement.
The term of such repayment shall be determined at the time the finance agreement is executed by the benefited property owner and the financing party, not to exceed the weighted average of the useful life of the systems and improvements as determined by EIC, acting on behalf of the municipality.
The rate of interest for the secured amount shall be fixed by the financing party in conjunction with EIC, acting on behalf of the municipality, as provided in the finance agreement.
Upon the making of the loan pursuant to the finance agreement, the secured amount shall become a special benefit assessment lien on the benefited property in favor of the municipality. The amount of the benefit assessment lien shall be the secured amount. Evidence of the benefit assessment lien shall be recorded by EIC, on behalf of the municipality, in the land records for properties in the municipality. Such recording shall be exempt from any charge, mortgage recording tax or other fee in the same manner as if recorded by the municipality. The benefit assessment lien shall not be foreclosed upon by or otherwise enforced by the municipality.
The finance agreement shall provide for the repayment of the secured amount in installments made at least annually, as provided in a schedule attached to the benefit assessment lien (the "annual installment amount"). The annual installment amount shall be levied by EIC, on behalf of the municipality, on the benefited property in the same manner as levies for municipal charges, shall become a lien on the benefited property as of the first day of January of the fiscal year for which levied (the "annual installment lien") and shall remain a lien until paid. The creation or any recording of the annual installment lien shall be exempt from any charge, mortgage recording tax or other fee in the same manner as if recorded by the municipality. Payment to the financing party shall be considered payment for this purpose. Such payment shall partly or wholly discharge the annual installment lien. Delinquent annual installment amounts may accrue financing charges as may be provided in the finance agreement. Any additional financing charges imposed by the financing party pursuant to the finance agreement shall increase the annual installment amount and the annual installment lien for the year in which such overdue payments were first due.
The benefit assessment lien shall be reduced annually by the amount of each annual installment lien when each annual installment lien becomes a lien. Each annual installment lien shall be subordinate to all municipal liens, whether created by § 902 of the RPTL or by any other state or local law. No portion of a secured amount shall be recovered by the municipality, EIC, or an assignee upon foreclosure, sale or other disposition of the benefited property unless and until all municipal liens are fully discharged. Each annual installment lien, however, shall have priority over all non-municipal liens, irrespective of when created, except as otherwise required by law.
Neither the benefit assessment lien nor any annual installment lien shall be extinguished or accelerated in the event of a default or bankruptcy of the benefited property owner. Each annual installment amount shall be considered a charge upon the benefited property and shall be collected by EIC, on behalf of the municipality, at the same time and in the same manner as real property taxes or municipal charges. Each annual installment lien shall remain a lien until paid. Amounts collected in respect of an annual installment lien shall be remitted to EIC, on behalf of the municipality, or the financing party, as may be provided in the finance agreement.
EIC shall act as the municipality's agent in collection of the annual installment amounts. If any benefited property owner fails to pay an annual installment amount, the financing party may redeem the benefited property by paying the amount of all unpaid municipal liens thereon, and thereafter shall have the right to collect any amounts in respect of an annual installment lien by foreclosure or any other remedy available at law. Any foreclosure shall not affect any subsequent annual installment liens.
EIC, on behalf of the municipality, may sell or assign for consideration any and all benefit assessment liens and annual installment liens to financing parties that provide financing to qualified properties pursuant to finance agreements. The financing parties may sell or assign for consideration any and all benefit assessment liens and annual installment liens received from EIC, on behalf of the municipality, subject to certain conditions provided in the administration agreement between EIC and the financing party. The assignee or assignees of such benefit assessment liens and annual installment liens shall have and possess the same powers and rights at law or in equity as the municipality would have had if the benefit assessment lien and the annual installment liens had not been assigned with regard to the precedence and priority of such lien, the accrual of interest and the fees and expenses of collection.
EIC, on behalf of the municipality, shall verify and report on the installation and performance of renewable energy systems and energy efficiency improvements financed by the program in such form and manner as the Authority may establish.
If any clause, sentence, paragraph, section, or part of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof involved in the controversy in which such judgment shall have been rendered.