City of South Portland, ME, Code of Ordinances ch. 5 (Buildings), Art. VII (Rental Registration)

Citation: City of South Portland, ME, Code of Ordinances ch. 5 (Buildings), Art. VII (Rental Registration)
Jurisdiction: South Portland (municipal)
Source: Official source
Original Source: https://southportland.gov/DocumentCenter/View/1421/Ch-05-Buildings ↗

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(a)PACE Administration. Pursuant to 35-A M.R.S.A. § 10154(2)(A)(2) and (B), as
may be amended, the City may enter into a PACE administration contract with the
Trust to administer the functions of the PACE program for the City. The PACE
administration contract with the Trust will establish the administration of the
PACE program including, without limitation, that:

(1) the Trust will enter into PACE agreements with owners of qualifying
property in the City’s PACE district;

(2) the Trust, or its agent, will create and record a Notice of the PACE
agreement in the appropriate County Registry of Deeds to create a PACE
mortgage;

(3) the Trust, or its agent, will disburse the PACE loan to the property
owner;

(4) the Trust, or its agent, will send PACE assessment statements with
payment deadlines to the property owner;

(5) the Trust, or its agent, will be responsible for collection of the PACE
assessments;

(6) the Trust, or its agent, will record any lien, if needed, due to
nonpayment of the PACE assessment;

(7) the City, or the Trust or its agent on behalf of the City, promptly shall
record the discharges of PACE mortgages upon full payment of the PACE
loan.

(b)Assistance and Cooperation. The City will assist and cooperate with the Trust
in its administration of the City’s PACE program.

(c)Assessments Not a Tax. PACE assessments do not constitute a tax but may be
assessed and collected by the Trust in any manner determined by the Trust and
consistent with applicable law.

Sec. 5 – 160 Liability of Municipal Officials; Liability of City.