Sec. 6-178

Citation: Sec. 6-178 (c)
Parent Document: Portland City Code ch. 6
Jurisdiction: Portland (municipal)
Original Source: https://www.portlandmaine.gov/asset/c5af4c63-b877-4ea8-9d29-8420cbad7717 ↗

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(c) Collection of assessments. A commercial property owner
participating in the Commercial PACE Program will repay the
financing of Energy Savings Improvements through an assessment on
their property similar to a tax bill. A Commercial PACE
Assessment constitutes a lien on the Qualifying Property until it
is paid in full and must be assessed and collected by the City or
its designated agent, the Trust, or a 3rd-party administrator
contracted by the Trust, consistent with applicable laws. The
City may, by written agreement, designate the applicable third-
party Capital Provider as its agent for the billing and
collection of Commercial PACE assessment payments in satisfaction
of the Commercial PACE Loan. Where Commercial PACE assessment
payments are received directly by the City along with other
municipal tax payments, such payments received from property
owners shall first be applied to City taxes, assessments, and
charges. The City shall have no ownership of the Commercial PACE
assessments collected except for any administrative costs
provided under the Commercial PACE Program or Commercial PACE
Agreement. The City shall pay all Commercial PACE assessment
payments received by the City to the applicable Capital Provider
or the Commercial PACE program administrator within 30 days after
the end of the month in which such amounts are collected. The
City shall have no obligation to make payments to any Capital
Provider with respect to any Commercial PACE repayment amounts or
loan obligations other than that portion of the Commercial PACE
Assessment actually collected from a property owner for the
repayment of a Commercial PACE Loan.

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