City PACE Ordinance 5_12_2011
Eleven
Energy and Sustainability Commission, Mayor Mary Clare Higgins and Councilors David Narkewicz and Pamela Schwartz
§76-51
Create an Energy Revolving Loan Fund for Property Assessed Clean Energy (PACE) financing of conservation and renewable energy measures
Section 76-51
{Insert new subsection (F). No other changes to section.}
The Energy Conservation Officer, in consultation with the Energy and Sustainability Commission, shall be the Fund Administrator for the Northampton Energy Revolving Loan Fund.
In accordance with Massachusetts General Laws Chapter 44, Section 53E¾, City Council held the required public hearing and hereby creates an Energy Revolving Loan Fund to provide Property
Assessed Clean Energy (PACE) financing of energy conservation and renewable energy measures to private property owners. Under the PACE program, eligible property owners may voluntarily
carry out eligible energy conservation and renewable energy investments using long-term city financing, which will be paid back by property tax assessments on participants’ property.
PACE will help achieve the Sustainable Northampton Comprehensive Plan objectives of reducing energy use and greenhouse gas emissions, encouraging the use of renewable energy sources,
and supporting the local economy by keeping energy expenditures and investments within the community.
The Energy Conservation Officer, with approval from the Energy and Sustainability Commission, shall adopt rules and regulations for administration of the fund and eligibility for loans.
The Energy Conservation Officer shall take all actions provided for by the statute or otherwise necessary for the administration of the fund.
The Energy Conservation Officer, in consultation with the Energy and Sustainability Commission, shall adopt procedures for the administration of the PACE program.
All fund custodianship, betterments, borrowing, bonding, financing, liens, annual reports, and all other aspects of the PACE program shall be in accordance with MGL chapter 44, section
53E¾ and any other applicable state statutes and local ordinances.
Refer to Ordinance, EDHLU, Planning Board
Refer to Finance Committee, EDHLU and Ordinance Committee