C-Pace Program — Authorization

TITLE 67 STATE GOVERNMENT AND STATE AFFAIRS CHAPTER 38 COMMERCIAL PROPERTY ASSESSED CAPITAL EXPENDITURE ACT 67-3805. c-pace program — authorization. (1) A local government may establish a C-PACE program and exercise all powers granted pursuant to this chapter. (2)(a)  The local government shall designate a region within its boundaries as an area in which C-PACE projects are permissible. (b)  If the local government is a county, then the region designated may encompass the whole of the unincorporated and incorporated areas inside the county’s boundaries. (3)  A local government that establishes a program may enter into written agreements with a property owner to impose voluntary assessments to repay such owner’s financing of a qualified project on the owner’s property, provided that the conditions of section 67-3804 , Idaho Code, are met. (4)  A local government may administer a program or delegate administration of a program pursuant to section 67-3806 (4), Idaho Code. (5)  If the program provides for third-party administration, then the local government official authorized to enter into a written contract with a property owner pursuant to section 67-3806 (1)(a)(viii), Idaho Code, shall also enter into a written contract with the party that administers the program. The contract must require the third party to reimburse the local government for costs associated with monitoring the program, imposing the assessment, and billing and collecting payments on behalf of the third party. (6)  The financing for assessments imposed may include but is not limited to: (a)  The cost of materials and labor necessary for the installation or modification of a qualified improvement; (b)  Permit fees; (c)  Inspection fees; (d)  Lender fees; (e)  Program application and administrative fees; (f)  Project development and engineering fees; (g)  Interest reserves; (h)  Capitalized interest, in an amount determined by the owner of the commercial property and the third party providing financing pursuant to this chapter; and (i)  Other fees or costs incurred by the property owner incidental or ancillary to the installation, modification, or improvement on a specific or pro rata basis, as determined by the local government. (7)  The written assessment contract constitutes written notice to the property owner that the owner may be responsible for the payment of any remaining principal balance of the assessment upon the refinance or sale of the property unless the remaining principal balance is assumed by the acquiring property owner. The local government shall require each property owner to acknowledge, in writing, the notice as part of the execution of the contract.