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This document serves as a redlined comparison of the updated PACE Charge Collection Agreement, highlighting changes from the previous version including new references to agreements, projects, and definitions associated with the Property Assessed Clean Energy (PACE) program. It outlines the rights and obligations of the City, NYCEEC as Administrator, Borrower, and Lender regarding PACE Charges on properties for financing energy efficiency and renewable energy improvements.

How to fill out pace charge collection agreement

How to fill out pace charge collection agreement

1. Begin by gathering the necessary information about the property owner and their property.
2. Clearly state the purpose of the PACE charge collection agreement in the introductory section.
3. Provide sections for the property owner's name, contact information, and property details.
4. Outline the specific terms and conditions of the PACE financing, including the amount to be financed and the repayment schedule.
5. Include a section detailing the rights and responsibilities of both the property owner and the financing authority.
6. Specify any fees associated with the agreement, such as administrative fees or penalties for late payments.
7. Ensure there is a place for both parties to sign and date the agreement, confirming their acknowledgment and acceptance of the terms.

Who needs pace charge collection agreement?

1. Property owners who are seeking financing for energy efficiency or renewable energy improvements on their properties.
2. Local governments or municipalities that participate in the PACE program to facilitate funding and energy upgrades.
3. Contractors or service providers who perform the energy upgrades and need assurance of payment through the PACE financing.

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What is pace charge collection agreement?

A PACE charge collection agreement is a legal document that outlines the terms under which a Property Assessed Clean Energy (PACE) financing authority can collect special assessments from property owners to repay the financing for energy-efficient improvements.

Who is required to file pace charge collection agreement?

Typically, the local government or authority that administers the PACE program is required to file the PACE charge collection agreement.

How to fill out pace charge collection agreement?

To fill out a PACE charge collection agreement, include necessary details such as property owner information, loan amount, description of the energy improvements, and the terms of repayment. Ensure all sections of the agreement are complete and accurate.

What is the purpose of pace charge collection agreement?

The purpose of the PACE charge collection agreement is to establish a framework for the collection of repayment amounts from property owners for financing energy efficiency upgrades through property tax assessments.

What information must be reported on pace charge collection agreement?

The information that must be reported includes the property owner's name and address, description of the property, the amount financed, terms of repayment, and any relevant legal or financial disclosures.