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.
§ 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)
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)
The Mayor, his or her designee or a third-party entity pursuant to contractual agreement that the Mayor is hereby authorized to enter into, shall serve as Program Administrator (the “Program Administrator”). The Program Administrator shall be responsible for the general administration of the EPAD Program and the completion of the following functions:
(A) Review EPAD petitions to determine compliance with applicable policies and procedures;
(B) Monitor proposed energy projects and timelines for completion;
(C) Approve written agreements between the city and owners that submit EPAD petitions and accepting energy projects pursuant to reasonable terms and conditions established for each energy project;
(D) Provide for the collection and distribution of assessment payments with respect to assessment payments established through the program; and
(E) Provide for the filing of notices of assessment as required by the Act.
(Ord. 22-2022, passed 8-15-2022)
Owners pursuing the development of an energy project shall complete an EPAD petition and submit it to the Program Administrator. The EPAD petition shall include and require the following:
(A) The signature of the owner;
(B) The names and current addresses of all current owners of record of the real property;
(C) The full legal description of the real property to which a proposed assessment payment is to be imposed, including reference to deed book and page number and property identification number;
(D) A general description of the proposed energy project;
(E) A proposed time schedule for undertaking and completing the proposed energy project;
(F) The written consent to the proposed assessment payment by each and every holder of a recorded mortgage lien on the affected property;
(G) The proposed scope of the work for the energy project;
(H) The estimated construction, installation and equipping budget for the energy project; and
(I) Information setting forth the baseline energy or water usage conditions and the energy or water savings projected to be achieved with respect to the project property as a result of the energy project. The information shall be provided by a state-licensed professional engineer, an energy service professional or a water efficiency professional or other relevant professional.
(Ord. 22-2022, passed 8-15-2022)
(A) The Program Administrator shall review each EPAD petition and all associated materials supplied therewith to determine if the EPAD petition complies with this chapter and all other applicable rules and regulations of the commonwealth and the city.
(B) If the EPAD petition complies, the Program Administrator shall approve a form of a project financing agreement related to the financing of the costs of the energy project. The project financing agreement shall have the customary and reasonable terms and conditions, including but not limited to, the imposition of a program assessment for a period of no more than 30 years. If approved, the Program Administrator shall file a notice of assessment in the real property records of the county as required by KRS 65.207, which shall include the following:
(1) The amount of the program assessment;
(2) The legal description of the real property;
(3) The name of each owner of record of the real property; and
(4) A reference to the statutory assessment lien provided under this section.
(Ord. 22-2022, passed 8-15-2022)
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