(1) In approving a loan, the office shall:

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Terms Used In Utah Code 11-45-205

  • Energy efficiency project: means :
              (2)(a)(i) for an existing building, a retrofit to improve energy efficiency; or
              (2)(a)(ii) for a new building, an enhancement to improve energy efficiency beyond the minimum required by the energy code. See Utah Code 11-45-102
  • Office: means the Office of Energy Development created in Section 79-6-401. See Utah Code 11-45-102
     (1)(a) review the loan application, plans, and specifications for the project;
     (1)(b) determine whether or not to grant the loan by applying the office’s eligibility criteria; and
     (1)(c) if the loan is granted, prioritize the energy efficiency project by applying the office’s priority criteria.
(2) The office may provide conditions on a loan to ensure that:

     (2)(a) the proceeds of the loan will be used to pay the cost of the project; and
     (2)(b) the project will be completed.