California Public Resources Code 26073 – (a) In evaluating eligibility, the authority shall consider …
(a) In evaluating eligibility, the authority shall consider whether the applicant’s loan program includes the following conditions:
(1) Loan recipients are legal owners of underlying property.
Terms Used In California Public Resources Code 26073
- Authority: means the California Alternative Energy and Advanced Transportation Financing Authority established pursuant to Section 26004, and any board, commission, department, or officer succeeding to the functions of the authority, or to which the powers conferred upon the authority by this division shall be given. See California Public Resources Code 26003
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Project: means a land, building, improvement to the land or building, rehabilitation, work, property, or structure, real or personal, stationary or mobile, including, but not limited to, machinery and equipment utilized in the state, whether or not in existence or under construction, that utilizes, or is designed to utilize, an alternative source, or that is utilized for the design, technology transfer, manufacture, production, assembly, distribution, or service of advanced transportation technologies or alternative source components. See California Public Resources Code 26003
(2) Loan recipients are current on mortgage and property tax payments.
(3) Loan recipients are not in default or in bankruptcy proceedings.
(4) Loans are for less than 10 percent of the value of the property.
(5) The program offers financing for energy and water efficiency improvements.
(6) Improvements financed by the program follow applicable standards of energy efficiency retrofit work, including any guidelines adopted by the State Energy Resources Conservation and Development Commission.
(b) In evaluating an application, the authority shall consider all of the following factors:
(1) The use by the loan program of best practices, adopted by the authority, to qualify eligible properties for participation in underwriting the loan program.
(2) The cost efficiency of the applicant’s loan program.
(3) The projected number of jobs created by the loan program.
(4) The applicant’s loan program requirements for quality assurance and consumer protection, as related to achieving efficiency and clean energy production, in accordance with the standards developed pursuant to subdivision (b) of Section 26072.
(5) The mechanisms by which savings produced by this program are passed on to the property owners.
(6) Any other factors deemed appropriate by the authority.
(c) The authority may approve a loan program that offers financing for electric vehicle charging infrastructure if the electric vehicle charging infrastructure is part of a project to install energy efficiency improvements and distributed generation renewable energy resources and is designed so that the project does not increase peak energy demand.
(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)