reglab/statecodes huggingface dataset:
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.5 - Source Selection

Current through June 14, 2024
A. Items purchased through the state's Master Pricing Agreements as defined in 220-RICR- 30-00-5.3(C)(1)(a) may be purchased by the Bank if approved by the Chief Purchasing Officer or his or her designee.
B. All Bank contracts shall be awarded by:
1. Competitive sealed bidding;
2. Request for proposals; or
3. Small purchase procedures
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.6 - Contracts

Current through June 14, 2024
A. Written contracts or invoices for goods and services shall be executed in all instances. The term, price, and complexity of the subject matter shall determine the extent to which contracts shall be reviewed by the Bank's legal counsel. Such determination shall be made by the Chief Purchasing Officer.
B. Multi-year contracts for supplies or services may be entered into in accordance with R.I. Gen. Laws §
										37-2-33.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.7 - Consultant Services

Current through June 14, 2024
Procurement of consultant services shall be noticed and implemented in accordance with R.I. Gen. Laws §§
										37-2-65 through  37-2-69.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.8 - Legal Services

Current through June 14, 2024
Procurement of legal services shall be done in accordance with R.I. Gen. Laws §
										37-2-70.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.9 - Code of Ethics and Professional Behavior

Current through June 14, 2024
A. All Bank employees shall be subject to the provisions of R.I. Gen. Laws Chapter 36-14 and all regulations promulgated by the Rhode Island Ethics Commission, and any special provision of this section.
B. It is the policy of the Bank that public officials and employees must adhere to the highest standard of ethical conduct, respect the public trust and the rights of all persons, be open, accountable and responsive, avoid the appearance of impropriety, and not use their positions for private gain or advantage.
C. All Bank employees involved in procurement are required:
1. To consider, first, the interests of the Bank in all transactions.
2. To support and carry out the Bank's policies;
3. To buy without prejudice;
4. To avoid any conflict of interest with respect to procurement, or the appearance thereof;
5. To obtain the maximum ultimate value for each dollar of expenditure;
6. To subscribe to and work for honesty and truth in buying and selling, and to denounce all forms and manifestations of commercial bribery;
7. To respect obligations and to require that obligations to the Bank be respected, consistent with good business practice.
8. Under no circumstances shall confidential information be made available to other vendors.
9. Personnel are prohibited from engaging in any conduct which may tend to cause any existing or prospective supplier of goods or services to believe that its relationship with the Bank will be affected by his purchasing or failing to purchase goods or services from any representative of the state.
10. It shall be the obligation of all Bank employees to avoid conflicts of interest with respect to procurement, and to report promptly to the Chief Purchasing Officer all instances where a conflict exists or is suspected to exist.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 00 - General Administration › Subchapter 00 - General Administration › Part 4 - Procurement Regulation › Section 830-RICR-00-00-4.10 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to any local government unit, person, or corporation is held invalid by a court of competent jurisdiction, the remainder of this Part shall not be affected thereby. The invalidity of any section or sections or parts of any section or sections shall not affect the validity of the remainder of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.1 - Purpose

Current through June 14, 2024
The within Policies and Procedures of Rhode Island Infrastructure Bank (the "Bank") have been established to govern the lending activities of the Efficient Buildings Fund in accordance with R.I. Gen. Laws Chapter 46-12.2 as amended (the "EBF Act").
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.2 - Definitions

Current through June 14, 2024
Except as otherwise defined herein, the words and phrases used within these Loan Policies and Procedures have the same meaning as the words and phrases in R.I. Gen. Laws Chapter 46-12.2 as amended and the Efficient Buildings Fund Project Priority List 300-RICR- 00-00-1.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.3 - Financial Assistance

Current through June 14, 2024
These Policies and Procedures govern the provision of financial assistance available to local governmental units ("Borrowers") for energy efficiency and renewable energy projects. Financial assistance may include below market interest rates, interest rate subsidies or other credit enhancements which reduce the cost of financing eligible projects. The amount of subsidy, if any, shall be determined by the Bank. At the discretion of the Bank, financially distressed Borrowers may receive financial assistance with a higher amount of subsidy as long as the additional subsidy does not have an adverse effect on other participants in the Efficient Building Fund; bond holders; other creditors of the Bank; or the finances of the Bank. In determining those Borrowers that qualify as "financially distressed" the Bank may consider the criteria set forth in R.I. Gen. Laws §§
										45-13-12(b)(1) through (4)  as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.4 - Loan Application

Current through June 14, 2024
A. Requests for financing should be submitted in writing by the Chief Executive Officer or other authorized officer of the Borrower to the Executive Director of the Bank. The written request should generally include:
1. A description of the project(s) to be financed with the projected construction and completion schedule. In the case of a refinancing, a description of the completed project and the terms and source of previous financing.
2. A description of the source of repayment, i.e., general revenues of the Borrower or other source of revenue acceptable to the Bank; appropriations pledge; or other dedicated source revenue of the Borrower.
3. A description of the overall operations of the Borrower, including but not limited to the most recent annual report or audited financials, with an emphasis on:
a. Legal structure;
b. Management;
c. Sources of revenues;
d. Operating expenses;
e. Operating surpluses or deficits;
f. Actual results versus budget;
g. Sources of financial liquidity.
4. Legal authority or authorities to construct, finance and operate the project.
5. The past five years Audited Financial Statements in accordance with Generally Accepted Government Accounting Standards.
6. Financial and demographic information.
7. Such other information as the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.5 - Loan Approval Process

Current through June 14, 2024
A. Loan approvals are subject to the following terms:
1. That all projects to be funded appear on the Rhode Island Office of Energy Resources ("OER") Project Priority List in accordance with the EBF Act. Projects not listed on the project priority list shall not be eligible for financial assistance from the EBF;
2. That the loan comply with all federal, state and Bank laws, rules and regulations;
3. That the loan and debt service requirements be approved by any applicable regulatory Agency;
4. That a satisfactory loan agreement be signed by all parties to the transaction;
5. That the loan will be made subject to availability of funds as related to the Bank's capacity; and that the loan will be made subject to ranking on OER's Project Priority List.
6. The Bank will conduct a financial analysis for each loan application which may include, but not be limited to:
a. Projected energy efficiency savings;
b. Sources of revenue and financial liquidity;
c. Historical and projected financial operating results;
d. Present and future debt service requirements;
e. Impact of dedicated user fees and/or general revenues;
f. Cost of the project and completion schedule;
g. Long term capital replacement planning;
h. Socioeconomic conditions and trends;
i. Management qualifications and experience;
j. Effects of legal structure and any regulator control; and
k. Any other information that the Bank may require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.6 - Terms and Conditions

Current through June 14, 2024
A. Interest/Pricing: Financial assistance may include below market interest rates, interest rate subsidies or other credit enhancements which reduce the cost of financing eligible projects. The amount of additional subsidy, if any, shall be determined by the Bank. At the discretion of the Bank, financially distressed Borrowers may receive financial assistance with a higher amount of additional subsidy as long as the terms of the financial assistance do not have an adverse effect on other participants in the Efficient Buildings Fund; bond holders; other creditors of the Bank; or the finances of the Bank.
1. Interest is to be calculated on the basis of a three hundred and sixty (360) day year and twelve (12) thirty (30) day months on the outstanding loan balance, paid semi-annually on March 1st and September 1st, and may be capitalized during construction. Borrowers will be contractually liable for the Market Rate on the Loan but will be billed only for the Subsidized Interest Rate. In the event of a default by the Borrower or other Borrowers in the EBF program, the Bank may bill the Borrower for the Market Rate.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.7 - Reporting Requirements

Current through June 14, 2024
A. Borrowers will be required to provide information to the Bank during the life of the loan including, but not limited to, the following:
1. A copy of its Annual Audited Financial Statements in accordance with Generally Accepted Government Accounting Standards, annually within nine (9) months of end of fiscal year.
2. An annual analysis of Operating Revenues and Expenses with an emphasis on the status of the dedicated revenues and/or general revenues securing the Borrower Bond and operating expenses in excess of budget, annually within nine (9) months of the end of fiscal year if the Borrower Bond is not a general obligation Bond. If the Borrower Bond is a general obligation bond, paid from ad valorem taxes, unless included as part of the annual budget, an analysis of Borrower operating revenues and expenses and a comparison for the respective period, annually within nine (9) months of the end of the fiscal year.
3. A copy of the annual budget of the Borrower, within fifteen (15) days of its adoption.
4. An annual schedule of current and projected short term and long term debt service.
5. An annual schedule of Capital Replacement Reserves.
6. Copies of reports submitted to OER, and any other regulatory agency relating to the projects financed.
7. During the construction period, an accounting of the monthly disbursements relating to the project.
8. Other information or reports as and when the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.8 - Loan/Financing Agreements

Current through June 14, 2024
There will be a Loan/Financing Agreement for each approved loan outlining the terms and conditions of the loan.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.9 - Compliance with Federal, State and Local Law

Current through June 14, 2024
The Borrower must comply with all applicable federal, state and local laws and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.10 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver or variation of any provisions herein may be made or additional requirements may be added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 1 - Efficient Buildings Fund Policies and Procedures › Section 830-RICR-10-05-1.11 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to any local governmental unit, person, or corporation is held invalid by a court of competent jurisdiction, the remainder of this Part shall not be affected thereby. The invalidity of any section or sections or parts of any section or sections shall not affect the validity of the remainder of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.1 - Purpose

Current through June 14, 2024
Commercial Property Assessed Clean Energy (C-PACE) is a voluntary financing mechanism which allows commercial property owners to access affordable, long-term financing for energy upgrades and other eligible environmental health and environmental safety upgrades on their properties. The within Regulations of the Rhode Island Infrastructure Bank (the "Bank") have been established to govern the administration of the Rhode Island Commercial Property Assessed Clean Energy (RI C-PACE) program in accordance with R.I. Gen. Laws Chapter 39-26.5 as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.2 - Definitions

Current through June 14, 2024
Except as otherwise defined herein, the words and phrases used within these Regulations have the same meaning as the words and phrases in R.I. Gen. Laws Chapter 39-26.5 as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.3 - Eligible Projects

Current through June 14, 2024
A. An eligible project for RI C-PACE financing must be located on eligible real property, be a permanent improvement or other approved measure, and owned by an eligible property owner. RI's C-PACE program will finance projects under the following eligible categories, including but not limited to:
1. renewable energy;
2. energy efficiency and water conservation improvements;
3. system reliability upgrades;
4. alternative fuel infrastructure upgrades;
5. other eligible environmental health and environmental safety improvements.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.4 - Eligible Properties

Current through June 14, 2024
A. An eligible project for RI C-PACE financing must be located on eligible real property and be owned by an eligible property owner. A parcel of real property is eligible for RI C-PACE financing if it meets the following criteria:
1. It is located in a city or town that has opted in to the RI statewide C-PACE program. The Bank will maintain a list of participating cities and towns on the RI C-PACE website.
2. If the project to be financed and represents a retrofit to an existing building and it:
a. includes a building, other than a residential building containing four or fewer units, which may include, but is not limited to an office or retail or lodging building, an industrial or agricultural building, or multifamily housing (other than for the portion of a building which has for sale housing units or "condominiums"), or
b. contains an improvement or connected land that, for purposes of ad valorem taxation, is billed with a parcel meeting the requirements of (a) above. For example, if a commercial building occupies twenty-five (25%) percent of a tax parcel of property, subject to applicable zoning/density regulations; RI C-PACE financing could be used in install solar panels on the remainder of the parcel.
3. If the project to be financed represents new construction, the new construction must:
a. comprise the construction of a building, other than a residential building containing four or fewer units, and
b. may also include upgrades to an improvement or connected land that, for purposes of ad valorem taxation, is billed with a parcel meeting the requirements of (a). The example given in 2(b) above applies here. The only difference is that the solar project would be on land connected to a new construction project.
4. The property is eligible (or is eligible to be placed) on the property tax or other municipal assessment rolls of the city or town in which it is located.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.5 - New Construction Project Eligibility

Current through June 14, 2024
New construction projects are eligible for RI C-PACE financing for new building projects that exceed the current standards set forth in the applicable Rhode Island State Commercial Building Energy Code by ten (10%) percent.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.6 - Local Government Eligibility

Current through June 14, 2024
The RI C-PACE program requires that each Rhode Island city and town wishing to participate in the RI C-PACE program must adopt a resolution authorizing the Bank to establish and administer the RI C-PACE program within their jurisdiction. In addition, the resolution must authorize the city or town to enter into the Bank-City and Town Participating Agreement. Projects are not eligible for RI C-PACE financing unless their host municipality has opted into the RI C-PACE program in accordance with this section and R.I. Gen. Laws Chapter 39-26.5 as amended.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.7 - Contractor Eligibility

Current through June 14, 2024
A. The RI C-PACE program requires that contractors be registered with the program. Contractors must meet all RI State licensing and registration requirements to be eligible to participate in the RI C-PACE program. To become a registered contractor, the contractor must complete and submit a Contractor Registration Application to the Program Administrator (PA) which can be found on the RI C-PACE program website. The PA and Bank have the discretion to approve and deny contractor applications based upon review of the information in the Contractor Registration Application. The RI C-PACE program will maintain a list of registered contractors on the RI C-PACE website. Contractors who have been approved as registered RI C-PACE Contractors will remain on the RI C-PACE registered contractor list for three years from the date they become qualified and be re-enrolled if in good standing after the initial three-year period. The Bank reserves the right to disqualify contractors if they are found to be in violation of any of the standards set forth in the RI C-PACE Program Guidelines or for any other reason that the Bank finds to be in violation of good practices of the RI C-PACE program.
B. The Contractor Registration Application will include the following information, but not be limited to:
1. Company Name and Contact Information
2. Company Services such as the types of energy efficiency or clean energy services the company provides
3. State and local licenses, registration and certifications including the license / registration / certificate name, number and expiration date
4. Staff resumes
5. References
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.8 - Change of Contractor

Current through June 14, 2024
Program applicants who wish to change or bring on additional contractors after application approval may do so with written approval from the PA.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.9 - Change Orders

Current through June 14, 2024
Project applicants are only required to submit a change order to the PA for approval if the changes significantly alter an already approved measure or otherwise may affect the energy consumption of the building.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.10 - Capital Provider Eligibility

Current through June 14, 2024
In order to participate in RI C-PACE, capital providers must meet eligibility criteria set forth by the Bank's Board of Directors. RI C-PACE will solicit capital providers through a RI C-PACE Investor Approval Application. RI C-PACE Investor Approval Applications will be accepted on a rolling basis and approved capital providers will be listed on the RI C-PACE website.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.11 - Underwriting Standards

Current through June 14, 2024
A. The Bank requires capital providers to use at minimum, the following factors when determining whether or not to underwrite RI C-PACE projects:
1. Total property-related debt to property value ratio (Total property-related debt includes mortgage debt, the RI C-PACE financing and any other obligations secured by the property). The property value may be established either:
a. as the assessed value of the property, or
b. its appraised value, as supported by a recent appraisal. In either case, the property's value may include the enhanced value of property resulting from the installation of the improvements being financed with RI C-PACE.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.12 - Notice and Mortgage Holder Consent

Current through June 14, 2024
R.I. Gen. Laws Chapter 39-26.5 requires that commercial property owners provide notice to all existing lienholders prior to the placing of the lien and to receive the consent of all existing holders of mortgages or deeds of trust on the property prior to the recording of the C-PACE assessment lien, which with such consent will be senior in priority to all mortgages on the property. The RI C-PACE lien shall take precedence over all other liens or encumbrances except a lien for taxes of the municipality on real property. To the extent RI C-PACE assessments are paid in installments and any such installment is not paid when due, the RI C-PACE assessment lien may be foreclosed to the extent of any unpaid installment payments and any penalties, interest, and fees related thereto. In the event such RI C-PACE assessment lien is foreclosed, including foreclosures resulting from tax sales, such RI C-PACE assessment lien shall survive the judgment of foreclosure to the extent of any unpaid installment payments of the RI C-PACE assessment secured by such RI C-PACE assessment lien that were not the subject of such judgment.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.13 - Security

Current through June 14, 2024
The RI C-PACE financing is secured by the special assessment and corresponding lien on the subject property. The RI C-PACE assessment has priority over all private liens on the property, and is junior in priority to a municipal tax lien. The RI C-PACE assessment will be placed on a RI C-PACE property owner's property tax or other municipal bill in which the PACE property is located, collected by the RI C-PACE municipality and/or third-party entity acting on behalf of the municipality and remit those funds to Bank to be remitted to the capital provider. The RI C-PACE assessment shall be owed by the current owner of the related RI C-PACE property as of the time each RI C-PACE assessment comes due. In the event of a transfer of ownership, including by tax sale, in accordance with R.I. Gen. Laws §
										44-9-32, as amended, all RI C-PACE assessments coming due after the date of the transfer, by tax sale, in accordance with R.I. Gen. Laws §
										44-9-32, or foreclosure or otherwise, shall be owned by the transferee. The remedies available to capital providers in the case of a payment default are the same as are available to holders of other special assessments, including penalty interest and, in extreme cases, foreclosure and sale of the property at a tax lien sale.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.14 - Data Sharing Requirements

Current through June 14, 2024
The Bank requires that project owners provide ongoing access to utility usage data after a project is complete in an effort to track RI C-PACE project performance.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.15 - Post-Completion Commissioning Requirements

Current through June 14, 2024
RI C-PACE requires a post completion inspection report and post-construction commissioning report.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.16 - Application and Approval Process

Current through June 14, 2024
The RI C-PACE program application will be submitted to the RI C-PACE PA. The RI C-PACE PA is responsible for the review and approval of the RI C-PACE application.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.17 - Fees

Current through June 14, 2024
The RI C-PACE program will assign a program administration and servicing fee to each project at the time of project financing. The fees will be set by the Bank Board of Directors and be reviewed, at least, annually. Project financing costs and interest rates will be set by the applicant's capital provider.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.18 - Disclosure of Property Owner Information

Current through June 14, 2024
Property owners must agree to allow the Bank to disclose personal/corporate information submitted as part of the program to the PA. They also must agree that the Bank Board and the PA may disclose the property owner's information to third parties when such disclosure is essential to the conduct of the Bank's business.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.19 - Transfer or Resale of the Subject Property

Current through June 14, 2024
If the property is sold prior to the end of the agreed-upon special assessment period, the new owner will assume the RI C-PACE assessment obligation, unless otherwise negotiated. Ownership of any authorized improvements on the subject property will transfer to the new owner at the close of the real estate sale. Authorized improvements financed through the program may not be removed from the property until the RI C-PACE assessment has been fully repaid. Program participants agree to make all legally required disclosures about the existence of the special RI C-PACE assessment lien on the property in connection with any sale.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.20 - Fraud

Current through June 14, 2024
Giving materially false, misleading or inaccurate information or statements to the Board, the PA or any of their employees and agents (or failing to provide the Board with material information) in connection with an application is punishable by law. Material representations include, but are not limited to, representations concerning the project costs, ownership structure and financial information relating to the property and the applicant.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.21 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver or variation of any provision herein may be made or additional requirements may be added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 2 - Rhode Island Commercial Property Assessed Clean Energy Regulations (RI C-PACE) › Section 830-RICR-10-05-2.22 - Severability

Current through June 14, 2024
If any provision of these rules and regulations or the application thereof to any local government unit, person, or corporation is held invalid by a court of competent jurisdiction, the remainder of the rules and regulations shall not be affected thereby. The invalidity of any section or sections or parts of any section or sections shall not affect the validity of the remainder of these rules and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.1 - Purpose and Scope

Current through June 14, 2024
The within Policies and Procedures of Rhode Island
					 Infrastructure Bank (the "Bank") have been established to govern the provision
					 of financial assistance from the Clean Energy Fund ("CEF") to applicants for
					 clean energy related infrastructure projects.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.2 - Authority

Current through June 14, 2024
These rules and regulations are promulgated pursuant to the
					 authority provided by R.I. Gen. Laws §
										46-12.2-4 and R.I. Gen. Laws §
										46-12.2-4.3.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.3 - Definitions

Current through June 14, 2024
A. Except as otherwise defined herein, the
				  words and phrases used within this Part shall have the same meaning as the
				  words and phrases in R.I. Gen. Laws §
										46-12.2-2, as amended.
B. For the purposes of this Part, the
				  following terms are defined as follows:
1.
				  "Applicant" or "Borrower" means any local governmental unit, corporation, or
				  person, each as defined within R.I. Gen. Laws §
											46-12.2-2.
2. "Clean energy related infrastructure
				  project" or "Project" means any project identified within R.I. Gen. Laws §
											46-12.2-4.3, including but not limited to, those related to greenhouse gas
				  reduction or elimination, zero-emission technology, clean transportation, clean
				  heating, energy storage, energy efficiency, renewable energy, and demand-side
				  management.
3. "Executive Director"
				  means the Executive Director of Rhode Island Infrastructure Bank or his or her
				  designee(s).
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.4 - Financial Assistance

Current through June 14, 2024
A. Financial
				  assistance may include grants, loans, below market interest rates, interest
				  rate subsidies or other credit enhancements which reduce the cost of financing
				  eligible Projects. The amount of subsidy, if any, shall be determined by the
				  Bank. At the discretion of the Bank, financially distressed Borrowers may
				  receive financial assistance with a higher amount of additional subsidy as long
				  as the terms of the financial assistance do not have an adverse financial
				  effect on other participants in the CEF, bond holders; other creditors of the
				  Bank; or the finances of the Bank.
B. Requests for financial assistance shall be
				  submitted in writing by an authorized officer of the Applicant to the Executive
				  Director pursuant to the applicable requirements of this Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.5 - Eligible Project Categories

Current through June 14, 2024
A. The following
				  categories of Projects will be considered either alone or in combination:
1. Greenhouse gas reduction or
				  elimination;
2. Zero-emission
				  technology;
3. Clean
				  transportation;
4. Clean
				  heating;
5. Energy
				  storage;
6. Energy
				  efficiency;
7. Renewable
				  energy;
8. Demand-side management;
				  or
9. Other categories of projects
				  within R.I. Gen. Laws §
											46-12.2-4.3 or as otherwise identified by the
				  Bank.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.6 - Grant Application and Review

Current through June 14, 2024
A. A grant
				  application may include but not be limited to:
1. A concise summary identification of the
				  Applicant and the proposed Project.
2. Information about the Project including a
				  description of:
a. How the Project will
				  address at least one of the categories within § 3.5 of this Part;
				  and
b. Any matching funds the
				  Applicant intends to commit to the Project.
3. A proposed Project schedule and
				  budget.
4. Any additional
				  information that the Bank may require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.7 - Grant Terms and Conditions and Reporting Requirements

Current through June 14, 2024
A. The terms and conditions and reporting
				  requirements for grants from the CEF will be established by the Bank and set
				  forth in a grant agreement.
B.
				  Construction Progress Payments
1. Progress
				  payments for each construction Project will be made through a construction fund
				  established for the CEF Program. Grant proceeds will be transferred monthly
				  from the construction fund for each Borrower based upon approved Requisition
				  Forms submitted to the Bank. Upon receipt of the Requisition Forms and all
				  associated Requisition Documentation, the Bank will verify:
a. That the costs requisitioned for payment
				  are in connection with the approved clean energy related infrastructure
				  Project(s);
b. The vendor is
				  identified in the contract; and
c.
				  There is sufficient availability of funds approved for the Project to make the
				  payment.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.8 - Loan Application

Current through June 14, 2024
A. A loan
				  application may include but not be limited to:
1. A description of the Project(s) to be
				  financed with the projected construction and completion schedule. In the case
				  of a refinancing, a description of the completed Project and the terms and
				  source of previous financing.
2.
				  How the Project will address at least one of the categories within § 3.5
				  of this Part.
3. A description of
				  the source of repayment, i.e., general revenues of the Borrower or other source
				  of funds acceptable to the Bank including but not limited to an appropriations
				  pledge.
4. A description of the
				  overall operations of the Borrower, including but not limited to the most
				  recent annual report and audited financials, with an emphasis on:
a. Legal structure;
b. Management;
c. Sources of revenues;
d. Operating expenses;
e. Operating surpluses or deficits;
				  and
g. Sources of financial
				  liquidity.
5. Legal
				  authority or authorities to construct, finance, and operate the
				  Project.
6. Financial statements in
				  a form acceptable to the Bank.
7.
				  Financial and demographic information.
8. Such other information as the Bank may
				  reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.9 - Loan Approval Process

Current through June 14, 2024
A. Loan approvals
				  are subject to the following terms:
1. That
				  the loan complies with all applicable federal, state and Bank laws, rules and
				  regulations;
2. That the loan and
				  debt service requirements be approved by any applicable regulatory
				  agency;
3. That a satisfactory loan
				  agreement be signed by all parties to the transaction; and
4. That the loan will be made subject to
				  availability of funds.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.10 - Loan Terms and Conditions

Current through June 14, 2024
A. Loans approved
				  under the CEF may be subject to the following terms and conditions that include
				  but are not limited to:
1. Interest/Pricing:
				  Financial assistance may include below market interest rates, interest rate
				  subsidies or other credit enhancements which reduce the cost of financing
				  eligible Projects. The amount of additional subsidy, if any, shall be
				  determined by the Bank. At the discretion of the Bank, financially distressed
				  Borrowers may receive financial assistance with a higher amount of additional
				  subsidy as long as the terms of the financial assistance do not have an adverse
				  financial effect on other participants in the CEF, bond holders; other
				  creditors of the Bank; or the finances of the Bank.
a. Interest, if any, is to be calculated on
				  the basis of a three hundred and sixty (360) day year and twelve (12) thirty
				  (30) day months on the outstanding loan balance, and at the Bank's discretion,
				  paid semi-annually on March 1st and September 1st, and may be capitalized
				  during construction.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.11 - Loan Reporting Requirements

Current through June 14, 2024
A. Borrowers will
				  be required to provide information to the Bank during the life of the loan
				  including, but not limited to, the following:
1. A copy of its financial statements in a
				  form acceptable to the Bank.
2. An
				  annual analysis of Operating Revenues and Expenses with an emphasis on the
				  status of the dedicated revenues and/or general revenues securing the Borrower
				  Bond and operating expenses in excess of budget, annually within nine (9)
				  months of the end of fiscal year if the Borrower Bond is not a general
				  obligation Bond. If the Borrower Bond is a general obligation bond, paid from
				  ad valorem taxes, unless included as part of the annual budget, an analysis of
				  Borrower operating revenues and expenses and a comparison for the respective
				  period, annually within nine (9) months of the end of the fiscal
				  year.
3. A copy of the annual
				  budget of the Borrower, within fifteen (15) days of its adoption, if
				  applicable.
4. An annual schedule
				  of current and projected short-term and long-term debt service.
5. Copies of reports submitted to any other
				  regulatory agency relating to the clean energy related infrastructure
				  Project(s) financed.
6. During the
				  construction period, an accounting of the monthly disbursements relating to the
				  Project.
7. Other information or
				  reports as and when the Bank may reasonably require.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.12 - Compliance with Federal, State and Local Law

Current through June 14, 2024
The Applicant must comply with all applicable federal,
					 state and local laws and regulations.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.13 - Modifications

Current through June 14, 2024
Where deemed appropriate by the Bank, waiver, or variation
					 of any provisions herein may be made or additional requirements may be
					 added.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 05 - Energy › Part 3 - Clean Energy Fund Policies and Procedures › Section 830-RICR-10-05-3.14 - Severability

Current through June 14, 2024
If any provision of this Part or the application thereof to
					 any local governmental unit, person, or corporation is held invalid by a court
					 of competent jurisdiction, the remainder of this Part shall not be affected
					 thereby. The invalidity of any section or sections or parts of any section or
					 sections shall not affect the validity of the remainder of this
					 Part.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 10 - Water › Part 1 - Drinking Water State Revolving Fund Loan Policies and Procedures › Section 830-RICR-10-10-1.1 - Purpose

Current through June 14, 2024
The within Loan Policies and Procedures of Rhode Island Infrastructure Bank (the "Bank") have been established to govern the lending activities of the Drinking Water State Revolving Fund (DWSRF) in accordance with R.I. Gen. Laws Chapters 46-12.8 and 46-12.2, and Title XIV of the Public Health Service Act (42 U.S.C. §
											300  et seq.).
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 10 - Water › Part 1 - Drinking Water State Revolving Fund Loan Policies and Procedures › Section 830-RICR-10-10-1.2 - Definitions

Current through June 14, 2024
Except as otherwise defined herein, the words and phrases used within this Part have the same meaning as the words and phrases have in R.I. Gen. Laws Chapters 46-12.8 and 46-12.2 and Title XIV of the Public Health Service Act (42 U.S.C. §
											300  et seq.
Rhode Island Code of Regulations › Title 830 - Infrastructure Bank › Chapter 10 - Programs › Subchapter 10 - Water › Part 1 - Drinking Water State Revolving Fund Loan Policies and Procedures › Section 830-RICR-10-10-1.3 - Financial Assistance

Current through June 14, 2024
A. This Part governs the provision of financial assistance to local governmental units, and privately organized water suppliers (collectively "Borrowers") to finance costs of approved drinking water projects in the form of loans with below market interest rates or interest rate subsidies which reduce the cost of financing these projects by at least twenty-five percent (25%). Financially distressed Borrowers may receive financial assistance greater than twenty-five percent (25%) as long as these loans do not have an adverse effect on other participants in the loan programs of the Bank; bond holders; other creditors of the Bank, or the finances of the Bank. In determining those Borrowers that qualify as "financially distressed" the Bank may consider the criteria set forth in R.I. Gen. Laws §§
										45-13-12(b)(1) through (4).
B. Small Water Systems: Small Water Systems, as defined by the Environmental Protection Agency (EPA) may be awarded financial assistance in accordance with the Small Water System Guidance Document that shall be issued by the Bank. See
www.RIIB.org
for the Small Water System Guidance Document.