[1]
Editor's Note: This local law was adopted as Ch. 203, but
was renumbered to maintain the alphabetical organization of the Code.
A.
It is the policy of both the City of Peekskill 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 Peekskill 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 article establishes a
program that will allow the Energy Improvement Corporation ("EIC"),
a local development corporation acting on behalf of the City of Peekskill
pursuant to the municipal agreement to be entered into between the
City of Peekskill 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.
B.
The City of Peekskill is authorized to implement this Energize New
York Benefit Financing Program pursuant to the Municipal Home Rule
Law and Article 5-L of the New York General Municipal Law.
C.
This article shall be known and may be cited as the "Energize New
York Benefit Financing Program Law of the City of Peekskill."
For purposes of this article, and unless otherwise expressly
stated or unless the context requires, the following terms shall have
the meanings indicated:
The New York State Energy Research and Development Authority,
as defined by Subdivision 2 of § 1851 of the Public Authorities
Law, or its successor.
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 Peekskill to implement
the Energize New York 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 Peekskill
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 Peekskill
taxes.
A formal evaluation or "assessment" of the energy consumption
of a permanent building or structural improvement to real property,
conducted by a contractor certified by the Authority, or certified
by a certifying entity approved by the Authority, for the purpose
of identifying appropriate energy efficiency improvements that could
be made to the property.
Any renovation or retrofitting of a building to reduce energy
consumption, such as window and door replacement, lighting, caulking,
weatherstripping, air sealing, insulation, and heating and cooling
system upgrades, and similar improvements, determined to be cost effective
pursuant to criteria established by the Authority, not including lighting
measures or household appliances that are not permanently fixed to
real property.
An owner of residential or commercial real property located
within the boundaries of the City of Peekskill that is determined
to be eligible to participate in the Energize New York 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.
A written study, conducted by a contractor certified by the
Authority, or certified by a certifying entity approved by the Authority,
for the purpose of determining the feasibility of installing a renewable
energy system.
A.
An Energize New York Benefit Financing Program is hereby established
by the City of Peekskill, 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.
B.
For funds provided to a qualified property owner which is a commercial
entity, not-for-profit organization, or entity other than an individual,
EIC shall have the authority to impose requirements on the maximum
amount of funds to be provided, which may consider factors including
but not limited to the property value, projected savings, project
cost, and existing indebtedness secured by such property.
C.
For financings made to a qualified property owner who is an individual,
the funds provided shall not exceed the lesser of: i) 10% of the appraised
value of the real property where the renewable energy systems and/or
energy efficiency improvements will be located; or ii) 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.
A.
Any property owner in the City of Peekskill 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 Peekskill
offices.
B.
Every application submitted by a property owner shall be reviewed by EIC acting on behalf of the City of Peekskill, which shall make a positive or negative determination on such application based upon the criteria for making a financing enumerated in § 264-5 of this article. EIC may also request further information from the property owner, where necessary, to aid in its determination.
C.
If a positive determination on an application is made by EIC acting on behalf of the City of Peekskill, the property owner shall be deemed a qualified property owner and shall be eligible to participate in the Energize New York Benefit Financing Program in accordance with the procedure set forth under § 264-6 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 Peekskill, shall make a positive or negative determination
on such application based upon the following criteria for the making
of a financing:
A.
The proposed energy efficiency improvements and/or renewable energy
systems are determined to be cost effective based on guidelines issued
by the Authority;
B.
The property owner may not be in bankruptcy and the property may
not constitute property subject to any pending bankruptcy proceeding;
C.
The amount financed under the Energize New York Benefit Financing
Program shall be repaid over a term not to exceed the weighted average
of the useful life of renewable energy systems and energy efficiency
improvements to be installed on the property as determined by EIC;
D.
Sufficient funds are available from EIC to provide financing to the
property owner;
E.
The property owner is current in payments on any existing mortgage;
F.
The property owner is current in payments on any existing real property
taxes and has been current on real property taxes for the previous
three years; and
G.
Such additional criteria, not inconsistent with the criteria set
forth above, as the City of Peekskill, or EIC acting on its behalf,
may set from time to time.
A.
A qualified property owner may participate in the Energize New York
Benefit Financing Program through the execution of an Energize New
York Finance Agreement made by and between the qualified property
owner and EIC acting on the behalf of the City of Peekskill (the "Energize
New York Financial Agreement").
B.
Upon execution of the Energize New York Finance Agreement, the qualified property owner shall be eligible to receive funds from EIC acting on behalf of City of Peekskill for the acquisition, construction, and installation of qualifying renewable energy systems and energy efficiency improvements; provided the requirements of § 264-7 of this article have been met.
A.
No funds shall be made available for energy efficiency improvements unless determined to be appropriate through an energy audit as defined in § 264-2.
B.
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 § 264-2.
C.
The cost of such energy audit and/or renewable energy system feasibility
study shall be borne solely by the property owner but may be included
in the financed amount if the work is approved.
The Energize New York Finance Agreement between the qualified
property owner and EIC acting on behalf of the City of Peekskill shall
set forth the terms and conditions of repayment in accordance with
the following:
A.
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 his/her City of Peekskill tax
bill and shall be levied and collected at the same time and in the
same manner as City of Peekskill property taxes, provided that such
charge shall be separately listed on the tax bill. The City of Peekskill
shall make payment to EIC or its designee in the amount of all such
separately listed charges within 30 days of the date of the payment
is due to be made to the City of Peekskill.
B.
The term of such repayment shall be determined at the time the Energize
New York 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 Peekskill.
C.
The rate of interest for the charge shall be fixed by EIC acting
on behalf of the City of Peekskill at the time the Energize New York
Finance Agreement is executed by the property owner and EIC.
D.
The charge shall constitute a lien upon the real property benefited
by the Energize New York Benefit Financing Program as set forth in
Article 5-L of the General Municipal Law 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.
A.
EIC shall be responsible for verifying and reporting to the City
of Peekskill on the installation and performance of renewable energy
systems and energy efficiency improvements financed by such program.
B.
The City of Peekskill shall verify and report on the installation
and performance of renewable energy systems and energy efficiency
improvements financed by the Energize New York Benefit Financing Program
in such form and manner as the Authority may establish.
