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<br /> Property owners may receive funding for their qualifying improvements only from capital providers
<br /> pursuant to a Financing Agreement negotiated between the property owner and capital provider.
<br /> Neither the statewide administrator, the local government, nor program sponsor are party to this
<br /> agreement. In the Financing Agreement, the property owner agrees to repay a capital provider
<br /> for the C-PACE financing provided, including, but not limited to, any finance charges, fees, debt
<br /> servicing, accrual of interest and penalties, and any terms relating to the treatment of prepayment
<br /> and partial payment, and the billing, collection, and enforcement of the C-PACE financing. The
<br /> financing agreement between the capital provider and the property owner shall be negotiated by
<br /> the parties, including all terms and conditions of repayment, including interest, penalties, and
<br /> prepayment.
<br /> Property owners are authorized to obtain C-PACE financing to:
<br /> (1) Directly purchase the related equipment and materials for the installation or modification
<br /> of a qualifying improvement.
<br /> (2) Contract directly, including through lease, power purchase agreement, or other service
<br /> contract, for the related equipment and materials used in the installation or modification of
<br /> a qualifying improvement.
<br /> Qualifying commercial property means any privately-owned commercial, industrial, agricultural,
<br /> or multi-family real property with five (5) or more dwelling units. This includes properties owned
<br /> by nonprofit, charitable, or religious organizations. C-PACE financing may be provided to
<br /> qualifying commercial properties for:
<br /> o The acquisition, construction (including new construction), adaptive reuse, lease,
<br /> installation, or modification of qualifying improvements
<br /> o The refinancing of existing properties or new construction that have had qualifying
<br /> improvements installed for no more than three (3) years prior to the date of Project
<br /> Application. Exceptions will be approved by EDPNC on a case-by-case basis.
<br /> Qualifying improvements mean permanently affixed improvements on qualifying commercial
<br /> property as part of construction or renovation, including one or more of the following:
<br /> • Energy efficiency measure - equipment, component, or program change that reduces
<br /> energy use and that meets or exceeds then-existing State and Federal building codes and
<br /> efficiency standards or conservation codes. This includes, but is not limited to, energy
<br /> produced from a combined heat and power system that uses nonrenewable energy
<br /> resources. Examples of eligible measures may also include, but are not limited to: air
<br /> sealing; installation of insulation; installation of energy-efficient heating, cooling, or
<br /> ventilation systems; building modification to increase the use of daylight; window
<br /> replacement; windows; energy controls or energy recovery systems; installation of electric
<br /> vehicle charging equipment; installation of efficient lighting equipment; installations
<br /> necessary for electrical connectivity; construction materials that use less carbon or have
<br /> fewer emissions than comparable materials designed to serve the same purpose; or any
<br /> other improvements necessary to achieve a sustainable building rating or compliance with
<br /> a national model green building code.
<br /> • Resiliency measure-equipment, component, or program change including, but not limited
<br /> to, storm retrofits, flood mitigation, stormwater management (including but not limited to
<br /> green and gray infrastructure), wind resistance, indoor air quality improvement, electric
<br /> vehicle charging station, backup energy generators enrolled in an electric public utility
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