PACE special assessment definition

PACE special assessment means a local improvement
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PACE special assessment means a local improvement assessment, in accordance with chapter 56 of Title 40 of the Revised Statutes, to be imposed on a property in connection with a PACE project.
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PACE special assessment means a local improvement assessment, in accordance with chapter 56 of Title 40 of the Revised Statutes, imposed by a participating municipality on a property, with the consent of the owner of such property, as a means of securing a loan made by a lender to finance a PACE project at such property, payments in respect of which assessment are collected by the participating municipality and remitted to the lender.
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Examples of PACE special assessment in a sentence

  • PACE Agreement (Appendix 1b): A document signed by the Property Owner and the District, includes the Property Owner’s consent to the PACE special assessment and the requirements of the XX XXXX Program.

  • The maximum dollar amount of a PACE special assessment shall be negotiated on a project-specific basis between the property owner and the bond purchaser/commercial lender based upon the specific energy efficiency improvement(s) and/or renewable energy system(s) included in the individual PACE Special Assessment Agreement.

  • The specific amount of a PACE special assessment, which shall be consented to by the property owner by its execution of a special assessment agreement in the form promulgated by the municipality, shall be deemed the benefit conferred with respect to the property and shall be in lieu of the amount being determined by any other procedures contained in this Title otherwise applicable to determining the actual benefit conferred on the property.

  • The property owner must be aware of the fact that the Federal Housing Finance Agency has made a statement indicating that they will not give a mortgage to a potential buyer of a residential property if the property has a PACE special assessment recorded against it.

  • The property owner agrees to financing terms and then the PACE special assessment is added to the property’s tax bill.

  • Term Except as otherwise provided in this Agreement, the terms of this Agreement shall commence on the date first written above and shall expire upon the payment in full of the PACE special assessment created herein.

  • A PACE special assessment shall not be considered an "equivalent consensual security interest" for the purposes of the "New Jersey Residential Mortgage Lending Act," sections 1 through 39 of P.L.2009, c.53 (C.17:11C-51 et seq.).

  • For funds supplied by Ingham County, the interest rate on a PACE special assessment shall be sufficient to pay principal and interest on the bonds as determined by the AuthorizedOfficial.

  • PACE financing may be a viable way to achieve such efficiencies, however in order to protect a mortgagee’s and FHA’s interest, a mortgagor must receive written consent from its mortgagee and HUD to enter into a PACE special assessment or special assessment.

  • Qualifying Property” means a residential dwelling as defined in Section 103(v) of the Federal Truth in Lending Act (24 V.S.A § 3262(a)) located in a Municipality’s PACE special assessment district.


More Definitions of PACE special assessment

PACE special assessment means a special assessment levied against a Commercial Property, at a PACE Borrower’s request, to cover the debt service and recurring fees of a PACE Loan benefitting the Commercial Property.
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PACE special assessment means a 2[special] local
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PACE special assessment means a special assessment to be
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Related to PACE special assessment

  • Special Assessment means an assessment against real property calculated on a benefit or ad valorem basis for curb and gutter, sidewalk, sewer, water, or street paving; a drain; a connection fee or similar charge for a sewer or water system; or the land contract on a parcel of property acquired under the circumstances set forth in section 3(2). Special assessment does not include charges for current service.

  • Special Assessments means any of the following, except as otherwise provided in subsection (6):

  • Risk assessment means a programme to determine any risk associated with any hazard at a construction site , in order to identify the steps needed to be taken to remove, reduce or control such hazard;

  • Data Protection Impact Assessment means an assessment by the Controller of the impact of the envisaged processing on the protection of Personal Data.

  • Needs assessment means a study or statistical analysis that examines the need for ground ambulance service within a service area or proposed service area that takes into account the current or proposed service area’s medical, fire, and police services.