(A) Scope. Property owners are eligible to participate in the Clean Energy Loan Program for non-accelerating loans. The minimum loan amount shall be equal to the minimum loan amount outlined in the MDPACE Program Guidelines as of the date the loan is issued.
(B) Eligibility. In order to be eligible for a clean energy loan, the property owner shall:
(1) Have a 100% ownership interest in the commercial property located in Frederick County for which projects are proposed;
(2) Demonstrate that the most recent property taxes, assessments, and charges on the property have been paid;
(3) Provide a copy of written notice to all current holders of a mortgage or deed of trust who have a priority recorded lien on the property and written proof of express consent to the clean energy loan as a priority lien by all current holders of a mortgage or deed of trust on the property that is to be financed under the Clean Energy Loan Program; and
(4) Establish that the owner of the commercial property is able to repay the loan provided under the Clean Energy Loan Program, in a matter substantially similar to that required for a mortgage loan under§§ 12-127, 12-311, 12-409.1, 12-925 and 12-1029 of the Commercial Law Article of the Annotated Code of Maryland.
(Bill No. 16-17, 11-15-2016; Bill No. 23-09, 6-6-2023)