§ 20.1202. Scope and eligibility.

(a)

Scope . Commercial property owners are eligible to participate in the Program for nonaccelerating loans greater than $15,000.00 for a term of up to 20 years.

(b)

Eligibility . In order to be eligible for a Clean Energy Loan, the property owner shall:

(1)

Have a 100 percent ownership interest in the property located in Howard County for which improvements are proposed;

(2)

Obtain an energy audit approved under program guidelines demonstrating that the energy savings projected to be obtained from the improvements over the life of the loan equal or exceed the principal and aggregate interest to be paid over the term of the loan;

(3)

Demonstrate that the most recent property tax bill has been paid for the property;

(4)

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 loan as a priority lien by all current holders of a mortgage or deed of trust on the property; and

(5)

Establish that the property owner is able to repay the loan based on criteria and methods set forth in Ann. Code of Md., Commercial Law article, §§ 12-409.1 and 12-925 and any criteria and methods required by the Clean Energy Lender.

(C.B. 4, 2016, § 1)