§ 53.06 REVIEW OF EPAD PETITIONS.

   (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)

§ 53.07 PROGRAM ASSESSMENTS.

   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.

   (A)   As enumerated in the project financing agreement, the Program Administrator shall ensure the assessment is imposed and a statement as to the assessment payment due is included with the tax bill for the real property, in accordance with KRS 65.207(4)(a).

   (B)   Any program assessment shall, together with any collection fees, accrued interest and penalties, constitute a first and prior lien against the real property on which the program assessment is imposed from the date on which the notice of assessment is recorded until no assessment payments remain unpaid and the lien shall have the same priority as a lien for any other state or local ad valorem tax upon the project property.

   (C)   Any unpaid program assessment payment shall bear the same interest rate and penalty as other delinquent taxes included in the tax bill.

   (D)   To offset the cost of administering the program, including the cost of collection of assessment payments, in accordance with KRS 65.206(2)(c)2 fees may be imposed in amounts to be set forth in a project financing agreement, to be collected as a part of the assessment payment; provided that such fee shall not exceed the cost of the services performed.

   (E)   The Program Administrator shall ensure that the assessment payments collected annually are paid to the city or the finance lender in accordance project financing agreement.

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

§ 53.08 AMENDMENTS.

   Pursuant to KRS 65.206(2)(b), the City Council may amend the terms and conditions of the EPAD Program by ordinance, except that no amendments shall be adopted to retroactively change the conditions under which an existing program assessment was imposed, unless the owner consents to the amendment in writing.

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