NY Gen Mun L § 119-GG (2021)
2021 New York Laws GMU - General Municipal Article 5-L - Municipal Sustainable Energy Loan Program 119-GG - Sustainable Energy Loan Program.

§  119-gg. Sustainable energy loan program. 1. The legislative body of   any municipal corporation may, by local  law,  establish  a  sustainable   energy  loan  program  using  federal grant assistance or federal credit   support or monies from the state of New York or any state  authority  as   defined  by section two of the public authorities law available for this   purpose.2. Such program may make loans to the owners of real property  located   within   the  municipal  corporation  to  finance  the  installation  of   renewable energy systems and  energy  efficiency  improvements,  related   energy  audits  and renewable energy system feasibility studies, and the   verification of the installation of such systems  and  improvements.  No   municipal  corporation  shall  make  such a loan to an owner of property   that has received a loan from another municipal corporation pursuant  to   this article.3.  Each  such  local  law  establishing  the  sustainable energy loan   program shall provide for the criteria for making  such  loans  and  the   terms and conditions for repayment of such loans. The sustainable energy   loan  program  shall  use such lists of cost effective energy efficiency   improvements for  different  building  types  as  are  approved  by  the   authority.4.   The   municipal  corporation  shall  verify  and  report  on  the   installation and performance of  renewable  energy  systems  and  energy   efficiency  improvements  financed  by the loan program in such form and   manner as the authority may establish.5. Every loan made under the sustainable energy loan program shall  be   repaid over a term not to exceed the weighted average of the useful life   of  such  systems  and  improvements  as  determined  by  the  municipal   corporation. The  municipal  corporation  shall  set  a  fixed  rate  of   interest  for  the repayment of the principal amount of each loan at the   time the loan is made.6. a. For loans made to an owner of real property that is a commercial   entity, not-for-profit organization, or entity other than an individual,   the  municipal  corporation  shall  have   the   authority   to   impose   requirements  on  the  maximum  amount that may be borrowed through such   loan, which may consider  factors  including  but  not  limited  to  the   property   value,   projected   savings,   project  cost,  and  existing   indebtedness secured by such property.b. For loans made to an owner of real property who is  an  individual,   the  principal  amount  of each such loan, excluding interest, shall not   exceed the lesser of ten percent of the appraised real property value or   the actual cost of installing the renewable  energy  system  and  energy   efficiency  improvements,  including  the  costs of necessary equipment,   materials, and labor,  the  costs  of  each  related  energy  audit  and   renewable  energy system feasibility study, and the cost of verification   of such renewable energy system and energy efficiency improvements.7. No such loan shall  be  made  for  energy  efficiency  improvements   unless determined to be appropriate through an energy audit, and no such   loan shall be made for a renewable energy system unless determined to be   feasible through a renewable energy system feasibility study.8.  The  loan  made  under  the  sustainable energy loan program shall   constitute a lien upon the real property benefitted by such loan.9. The municipal corporation may  require  the  loan  made  under  the   sustainable  energy  loan  program  to  be  repaid by the property owner   through a charge on the real property  benefitted  by  such  loan.  Such   charge  shall  be on the real property and shall be levied and collected   at the same time and in the same manner  as  municipal  taxes,  provided   that  such  charge  shall  be  separately  listed  on  the tax bill, and   provided further that in the event such charge should not be paid  in  a    timely  manner,  no  other  municipal  corporation  shall be required to   credit or otherwise guarantee the amount of such unpaid  charge  to  the   municipal  corporation  which  authorized  the loan, notwithstanding any   provision of law to the contrary.