Current through 2024-13, March 27, 2024
In implementing and administering a C-PACE Program, Property
Owners, Capital Providers, Municipalities, and the Program Administrator shall
complete and comply with the following provisions.
1. C-PACE Program Administration.
a. The entity that administers a C-PACE
Program is referred to in these rules as a Program Administrator.
b. A municipality that has adopted a C-PACE
ordinance may:
(i) Enter into a contract with
the Trust to serve as the Program Administrator and to administer the functions
of the C-PACE Program for the Municipality, or
(ii) Serve as the Program Administrator
itself, to administer the functions of a C-PACE Program, including, but not
limited to, entering into C-PACE Agreements with commercial property owners in
its jurisdiction and collecting C-PACE Assessments.
2. Model documents; educational
materials. The Trust shall develop and provide to Municipalities model C-PACE
ordinances, model C-PACE agreements, other model forms and documents and
educational materials for use by Municipalities, Property Owners and Registered
Capital Providers in the implementation of C- PACE Programs.
3. The Trust may:
a. enter into a contract with a C-PACE
Municipality whereby the Trust will serve as the Program Administrator in the
municipality;
b. collect fees
necessary to administer the C-PACE Program; and
c. subcontract with one or more 3rd-parties
to perform part or all of the duties of a Program Administrator on behalf of
the Trust.
4.
Notwithstanding any provision of law to the contrary, staff or trustees of the
Trust, municipal officers and municipal officials, including, without
limitation, tax assessors and tax collectors, are not personally liable to the
Trust or to any other person for claims, of whatever kind or nature, under or
related to a C-PACE Program established under the C-PACE Act and these
Rules.
5. Other than the
fulfillment of its obligations specified in a C-PACE agreement, neither the
Trust nor a Municipality has any liability to a commercial property owner for
or related to Energy Savings Improvements financed under a C-PACE
Program.
6. Administrative Costs
a. Responsibility for Administrative Costs.
The Program Administrator shall be responsible for the costs of administration
of the C-PACE Program. Notwithstanding any provision of law to the contrary,
the Program Administrator may use funds from its administrative fund, program
funds or fees on C-PACE Assessments to pay reasonable administrative expenses
of the Program Administrator or to pay a 3rd party contracted by the Program
Administrator for costs incurred to carry out the purposes of this C-PACE
Program. Such administrative costs may be included in and paid from the C-PACE
Assessments collected on each C-PACE Loan in accordance with a fee schedule
agreed to by the Program Administrator and Registered Capital
Providers.
b. Fee Schedule. A C-PACE
Municipality that elects to administer loan origination and servicing functions
through its employees or a third-party agent shall be entitled to recover these
costs from C-PACE Assessments on the same fee schedule as the Trust. Costs to
such Municipalities, however, that exceed the fee schedule established by the
Trust shall be the responsibility of the Municipality.
