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Property Assessed Clean Energy (“PACE”) financing programs

Rule status: Adopted

Agency: DOF

Effective date: November 7, 2021

Proposed Rule Full Text
PACE-Proposed-Rule-amendment-Legal-11755907_NYCEEC-Comments_21.05.17-Law-edits-5-26-21.blm5_.27-Legal-11803810.6.07.2021-1.pdf

Adopted Rule Full Text
Notice-of-Adoption-of-Final-Rule.PACE-amendments-10.1.21.pdf

Adopted rule summary:

This rule amendment was proposed and published on June 16, 2021. A public hearing was held on July 19, 2021. In response to a question raised at the public hearing regarding the roles of the owner of the leasehold interest and the owner of the fee interest in the Program, DOF amended subdivision (b) of section 58-03 of the rule to require the consent of the fee owner when the borrower of a Program loan is an owner of a leasehold interest.

Online comments: 1

  • Elyssa Rothe, Greenworks Lending

    It is our understanding that leasehold interests in NYC are not assigned a separate tax ID. If that is the case, how will billing, collecting and enforcement of a C-PACE assessment secured by a leasehold interest work?

    Comment added July 16, 2021 3:48pm

Comments are now closed.