ACT. Section 1-1101 et seq. of the Local Government Article of the Annotated Code of Maryland.
CLEAN ENERGY LENDER. A capital provider that provides loans to property owners in order to finance qualifying projects, approved by the Maryland Clean Energy Center, and such capital provider's successors, transferees, and assignees.
CLEAN ENERGY LOAN. Any loan made by a private lender to a property owner under the Clean Energy Loan Program.
CLEAN ENERGY LOAN FINANCING AGREEMENT. An agreement between a property owner and a clean energy lender providing for the terms and conditions of a clean energy loan.
CLEAN ENERGY LOAN OBLIGATION. All indebtedness and obligations of a property owner to a clean energy lender under a clean energy financing agreement.
CLEAN ENERGY LOAN PROGRAM OR PACE PROGRAM. The clean energy loan program authorized by the Act, and established herein, the purpose of which is to provide loans to property owners to finance qualifying projects.
CLEAN ENERGY LOAN PROGRAM ADMINISTRATOR. Any person or entity selected by the County to manage the Clean Energy Loan Program.
COMMERCIAL PROPERTY. Any real property as defined in the Act, including residential dwellings containing more than four single dwelling units.
MDPACE PROGRAM GUIDELINES. The guidelines as defined by the Clean Energy Loan Program Administrator, the purpose of which is to describe the requirements, rules, and procedures applicable to the PACE Program.
PROPERTY OWNER. An owner of qualified commercial property.
SURCHARGE. The assessment levied by the County on a property owner's property tax bill to collect PACE Program loan payments owed to a clean energy lender by the property owner and costs of administering the PACE Program in accordance with the Act and as authorized by the County legislation.
SURCHARGE LIEN. The lien automatically established upon the County's levy of the surcharge on the property tax bill.
(Bill No. 16-17, 11-15-2016; Bill No. 23-09, 6-6-2023)