The purpose of this chapter is the establishment of a municipal
program to enable owners of qualifying property to participate in
a Property Assessed Clean Energy ("PACE") Program so that owners of
qualifying property can access financing for energy-saving improvements
to such properties located in the Town. The Town declares its purpose
and the provisions of this chapter to be in conformity with federal
and state laws.
Words and phrases used in this chapter have their customary meanings, except as specifically defined below; or as defined in 35-A M.R.S. § 10153, Definitions, as may be amended from time to time; or as found in Rule 95-648, Efficiency Maine Trust, Chapter 110: Pace Program Regulations: Loan Underwriting Standards, Consumer Disclosure Requirements, Terms and Conditions of Participation and Quality Assurance System, Part
II, Section 1, Definitions. As used in this chapter, the following words and phrases 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 weatherization, including, but not limited to, an energy
audit, air sealing, insulating, and other energy-efficiency improvements
and test out, for residential 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 mortgage.
PACE DISTRICT
All that area within the Town's boundaries within which
the PACE Program is established hereunder.
PACE LOAN
A loan, secured by a PACE mortgage, made to the owner(s)
of a qualifying property pursuant to the PACE Program to fund energy-saving
improvements.
PACE MORTGAGE
A mortgage securing a loan made pursuant to the PACE Program
to fund energy-saving improvements on qualifying property.
PACE PROGRAM
The program established under state statute by the Trust
and the Town under which property owners can finance energy-saving
improvements on qualifying property.
QUALIFYING PROPERTY
Real property located in the Town that participates in the
PACE Program pursuant to this chapter.
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. § 10103
and/or its agent(s), if any.
If the Trust adopts standards, promulgates rules, or establishes
model documents subsequent to the Town's adoption of this chapter
and those standards, rules or model documents substantially conflict
with this chapter, the Town shall take necessary steps to conform
this chapter and its PACE Program to those standards, rules, or model
documents.