Ordinance 2018-533 - Laserfiche WebLink

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Engineers, or other comparable program, and any available incentive programs; and iii. Costs of the Energy Audit are eligible for financing as part of the assessment. (8) Notice to Property Owner: Prior to or contemporaneously with entering into a PACE Financing Agreement, PACE Local Governments shall provide the property owner with a separate written notice disclosing the following items: (a) The total amount of the debt, including interest; (b) The maximum annual PACE Assessment and payment term that does not exceed the useful life of the improvements; (c) The estimated savings from the Qualifying Improvements, including a statement that actual savings will depend on usage patterns, seasonal variation and weather, utility rates and trends and product specifications. (d) The three-day right to cancel the PACE Financing Agreement; (e) Identification of prepayment fees or penalties. (f) The PACE Assessment will appear on the property owner's tax bill; (g) There is no discount or penalty for paying the PACE Assessment early; (h) The PACE Assessment will be collected in the same manner as real estate taxes; that failure to pay the PACE Assessment may cause a tax certificate to be issued against the property; and that failure to pay may result in the loss of property subject to the PACE Assessment, including homestead property, in the same manner as failure to pay property taxes; (i) The installation of Qualifying Improvements may or may not affect the overall market value of the Property; (j) The PACE Assessment may affect the sale or refinance of the Property; and (k) The property owner may be required to pay any PACE assessment in full at the time of refinance or sale of the property. (1) If the property owner is using an escrow or impound account to pay property taxes, he/she should contact his/her lender immediately to ensure that the escrow payments are adjusted correctly so that the property owner is aware of and prepared for the increased payment amount. (m)The notice shall be signed and dated by the property owner to acknowledge that they understand these conditions. Item (c) above may be provided in a separate document without property owner signature if necessary. If the PACE Local Government does not currently have the ability to include item cc above, it should modify its procedures in order to comply within one year of the effective date of its PACE Interlocal. Page 6 of 17