This chapter shall be known and may be cited as the "Town of
Standish Property Assessed Clean Energy (PACE) Ordinance" (the "Ordinance").
Except as specifically defined below, words and phrases used
in this chapter shall have their customary meanings; as used in this
chapter, the following words and phrases shall have the meanings indicated:
ENERGY SAVING IMPROVEMENT
An improvement to qualifying property that is new and permanently
affixed to qualifying property and that:
A.
Will result in increased energy efficiency and substantially
reduced energy use and:
(1)
Meets or exceeds applicable United States Environmental Protection
Agency and United States Department of Energy Energy Star program
or similar energy efficiency standards established or approved by
the Trust; or
(2)
Involves air sealing, insulating, and other energy efficiency
improvements of residential, commercial or industrial property in
a manner approved by the Trust; or
B.
Involves a renewable energy installation or an electric thermal
storage system that meets or exceeds standards established or approved
by the Trust.
PACE AGREEMENT
An agreement between the owner of qualifying property and
the Trust that authorizes the creation of a PACE mortgage on qualifying
property and that is approved, in writing, by all owners of the qualifying
property at the time of the agreement, other than mortgage holders.
PACE ASSESSMENT
An assessment made against qualifying property to repay a
PACE loan.
PACE DISTRICT
The area within which the municipality establishes a PACE
program hereunder, which is all that area within the municipality's
boundaries.
PACE LOAN
A loan, secured by a PACE mortgage, made to the owner(s)
of a qualifying property pursuant to a PACE program to fund energy
saving improvements.
PACE MORTGAGE
A mortgage securing a loan made pursuant to a PACE program
to fund energy saving improvements on qualifying property.
PACE PROGRAM
A program established under state statute by the Trust or
a municipality under which property owners can finance energy saving
improvements on qualifying property.
RENEWABLE ENERGY INSTALLATION
A fixture, product, system, device or interacting group of
devices installed behind the meter at a qualifying property, or on
contiguous property under common ownership, that produces energy or
heat from renewable sources, including, but not limited to, photovoltaic
systems, solar thermal systems, biomass systems, landfill gas to energy
systems, geothermal systems, wind systems, wood pellet systems and
any other systems eligible for funding under federal Qualified Energy
Conservation Bonds or federal Clean Renewable Energy Bonds.
TRUST
The Efficiency Maine Trust established in 35-A M.R.S.A. § 10103
and/or its agent(s), if any.