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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(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 agents 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. The City shall pay all Commercial PACE Assessment
payments in any calendar month 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.