Utah Administrative Code
Topic - Governor
Title R362 - Office of Energy Development
Rule R362-5 - Commercial Property Assessed Clean Energy (C-PACE), Administrative Rules
Section R362-5-10 - Associated Fee
Universal Citation: UT Admin Code R 362-5-10
Current through Bulletin 2024-06, March 15, 2024
(1) OED's costs of administering and directing the C-PACE District are financed by program fees charged to property owners upon project financial closing.
(a) In accordance with Section
63J-1-504,
OED charges a program fee that consists of a one-time charge of three percent
(3.0%) of the financed amount per project, provided that the fee does not
exceed ninety thousand dollars ($90,000) per project.
(2) On behalf of OED, the thirty party delegate provides an invoice to the third-party lender for the program fee.
(a) The third-party lender remits the fee to
the third party delegate within 10 days of financial closing.
(b) Upon receipt of the fee, the third party
delegate remits 0.5% of the collected fee, up to $15,000, to OED within 10 days
of receipt.
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