2024-102 Resolution - Laserfiche WebLink

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Purpose of the Commercial -Industrial Program The Commercial -Industrial Program is intended to assist property owners who own real property within participating political subdivisions with the financing of the acquisition, installation and improvement of special energy improvement projects, including, without limitation, solar photovoltaic, solar thermal energy, geothermal energy, customer -generated energy, or energy efficiency improvements, whether such real or personal property is publicly or privately owned, and any other "special energy improvement projects" authorized under Ohio Revised Code Chapter 1710, as the same may be amended from time to time (the "Authorized Improvements"), which Authorized Improvement shall be undertaken in accordance with the Act and the Plan, and by carrying out such other improvements and/or services in and for the benefit of the District as the Board (defined below) may determine and funds may allow, all as set forth in the Plan. Each participating political subdivision has approved the creation of the Advanced Energy District to provide the source of financing for the Commercial -Industrial Program. Special Assessment Revenue Bonds will be issued on behalf of Advanced Energy District and proceeds from the sale of the special assessment revenue bonds will be used to finance Authorized Improvements that benefit properties within the District. Debt service on the special assessment revenue bonds and the costs of administering the Commercial -Industrial Program will be paid through special assessments levied by participating political subdivisions on real property in the Advanced Energy District. Special Assessment payments will be due and payable by property owners) at the same time real property taxes are due. There may be other types of financing available. Each participating political subdivision and the Advanced Energy District do not guarantee that the Commercial -Industrial Program is the best financing option for your situation. Please do your research and select the option that is most appropriate for you. II. Advanced Energy District's Commercial -Industrial Program Process; Terms and Conditions; Services Plan; Statutory Requirements As discussed in more detail below, in order for you to receive financing and funding from the Advanced Energy District's Commercial -Industrial Program, the following steps must occur': First: You must review the eligibility requirements for Advanced Energy District Commercial -Industrial Property Assessed Clean Energy (PACE) program as set forth below. In order to participate in the Commercial -Industrial Program, you must meet the eligibility requirements. See "Eligibility' below. Second: You must apply for a funding reservation from the Advanced Energy District's Commercial -Industrial Program as set forth in this Article 11. Property owners may apply for the Advanced Energy District's Commercial -Industrial Program by contacting any one of the seventeen participating political subdivisions in the Advanced Energy District for m application. The list of participating political subdivisions is listed under "Eligibility" ' nese steps are not necessary for Owners 0 secure other financing.