CHAPTER 53: ENERGY PROJECT ASSESSMENT DISTRICT

Section

   53.01   Findings and determinations; definitions

   53.02   Creation of Energy Project Assessment District

   53.03   Program

   53.04   Program administration

   53.05   EPAD petition

   53.06   Review of EPAD petitions

   53.07   Program assessments

   53.08   Amendments

§ 53.01 FINDINGS AND DETERMINATIONS; DEFINITIONS.

   The recitals to this section are incorporated herein as if set forth in this section in their entirety and are hereby found and determined to be true and correct. For purposes of this chapter, the following definitions shall apply:

   CITY. The City of Elizabethtown, Kentucky.

   EPAD PETITION. A petition of an owner to participate in the EPAD Program as provided in § 53.05.

   EPAD PROGRAM. The EPAD Program established by the City Council by this chapter.

   OWNER. The owner or proposed owner of an interest in a real property in the EPAD.

   PROGRAM ASSESSMENT. An assessment for payments to be imposed upon the real property located in an EPAD that is being improved by an energy project.

   PROJECT FINANCING AGREEMENT. A contractual agreement between the owner, the Program Administrator, if other than the Mayor or other city official, the city and an approved finance lender that provides for the financing of an energy project with all or a portion of the costs being repaid by a program assessment.

(Ord. 22-2022, passed 8-15-2022)

§ 53.02 CREATION OF ENERGY PROJECT ASSESSMENT DISTRICT.

   There is hereby established an Energy Project Assessment District within the entire jurisdictional boundaries, including any future annexed area, of the city in accordance with KRS 65.205 to 65.209. Through the EPAD, the City Council intends to operate the EPAD Program that utilizes assessments on relevant real property to support energy projects and energy improvements (as such, terms are defined in the Act).

(Ord. 22-2022, passed 8-15-2022)

§ 53.03 PROGRAM.

   There is hereby established within the EPAD, an EPAD Program for the advancement of conservation and efficient use of energy and water resources. Under the EPAD Program, owners may petition for inclusion in the EPAD Program whereby the owner enters into a project financing agreement to provide financing for an energy project with all or a portion of the costs being repaid by a program assessment paid in yearly increments and included on the owner’s real property tax bill. Any payments related to a project financing agreement or any other costs of the EPAD Program shall be payable solely and only from amounts collected as assessment payments and shall not be payable from the city’s general funds.

(Ord. 22-2022, passed 8-15-2022)