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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.

(1) "Assessment agreement" means a voluntary agreement between the county and property owner whereby the county agrees to place a lien on the property to secure the property owner’s obligation to repay the financing to the capital provider.

(2) "Capital provider" means any private entity or the entity’s designee, successor or assign, that makes or funds financing under this chapter.

(3) "C-PACER program guide" means a comprehensive document that designates the applicable region for the program and establishes guidelines, specifications, processes, and contains standard application forms and other documents consistent with the administration of a program.

(4) "Eligible property" means privately owned commercial, industrial or agricultural real property or multifamily residential real property with five or more dwelling units. Eligible property may be owned by any type of business, corporation, individual, or nonprofit organization permitted by state law.

(5) "Financing" means an investment from a capital provider to a property owner to finance or refinance a qualified project.

(6) "Financing agreement" means the contract under which a property owner agrees to repay a capital provider for financing including, but not limited to, details of any finance charges, fees, debt servicing, accrual of interest, accrual of penalties and any terms relating to treatment of prepayment and partial payment of the financing.

(7) "Lien" means the lien recorded at the county on the eligible property to secure the financing debt owed to the capital provider, which remains on the property until paid in full.

(8) "Program" means a commercial property assessed clean energy and resiliency program established under this chapter.

(9) "Project application" means an application submitted to the county to demonstrate that a proposed project qualifies for financing and for a lien.

(10) "Qualified improvements" means a qualified improvement as described in the program guide.

(11) "Qualified project" means a project approved by the program administrator, involving the installation or modification of a qualified improvement, including new construction or the adaptive reuse of eligible property with a qualified improvement. (Added by Ord. 21-097, Dec. 15, 2021, Eff date Dec. 26, 2021).