§ 2-2083. Agreement terms.

The Administrator shall enter into a voluntary written agreement with each Eligible Participant. The written agreement shall provide, among other matters, for the following:

(1)

All work requiring a license under any applicable law to make a qualifying improvement shall be performed by a Contractor.

(2)

The source and amount of funding to be provided to the Eligible Participant.

(3)

The maximum limit of the financing for the Energy Savings Program shall not exceed 20 percent of the just value of the Property as determined by the County's Property Appraiser on the latest available tax roll unless:

•

A higher financing amount is consented to by the mortgage holder on the Property, if one exists; or

•

The Energy Audit demonstrates that the annual energy savings from the Qualified Improvement equals or exceeds the annual repayment amount of the non-ad valorem assessment.

(4)

Express voluntary consent by the Eligible Participant to accept the non-ad valorem assessment collection process pursuant to Section 197.3632, Florida Statutes.

(5)

The length of time for the Eligible Participant to repay the non-ad valorem assessment, provided, that it shall not exceed 30 years.

(6)

The Eligible Participant shall be responsible for assuring the Qualifying Improvements are completed as reflected in the approved application documents. The Eligible Participant also consents to providing access to the Property to verify that the Qualifying Improvements have been completed as proposed in the application.

At the time of a transfer of Property ownership except a transfer resulting from foreclosure, the past due balances of any non-ad valorem assessment under this Subsection shall be due for payment, but future payments shall continue as a lien on the property. At or before the execution of a contract for the sale and purchase of any property for which a non-ad valorem assessment for the Energy Savings Program has been levied and has an unpaid balance due, the seller shall give the prospective purchaser a Notice.

(7)

The risks associated with participating in the Energy Savings Program shall be clearly disclosed in plain language in the written Agreement, including risks related to the failure of the Eligible Participant to make payments, the risk that they may not be able to refinance the home or sell the home unless the Assessment is paid off in full first, and the risk of issuance of a tax certificate and loss of the property pursuant to Chapter 197, Florida Statutes.

(8)

If applicable, the cost of an energy savings audit or the cost to complete an estimate of information on energy saving measures, estimated energy savings for each measure, estimated greenhouse gas reductions and estimated cost savings from the projects will be subject to reimbursement upon execution of the written agreement to accept the non-ad valorem assessment.

(9)

Description of the Qualifying Improvements, their cost, estimated completion date and estimated savings.

(10)

A copy of the Energy Audit shall be included as an Exhibit, if applicable.

(11)

The Eligible Participant shall provide all copies of final permits and inspections to the Administrator upon completion of the Qualifying Improvements.

(12)

Notice of the non-ad valorem assessment shall be recorded in the public records for the Property.

(13)

No prepayment penalties may be charged or allowed, except that prepayment penalties may be charged and allowed only if the Assessment is paid off in full within five (5) years after the effective date of the Agreement. Any such prepayment penalties shall be clearly disclosed in the Agreement. In addition, a hardship exception shall be provided to the Property owner by the Administrator.

(14)

The Agreement shall clearly disclose, in plain language, the interest rate to be charged, including points, as well as any and all fees or penalties that may be separately charged to the Eligible Participant, including prepayment penalties, potential late fees, and potential increases in the applicable interest rate.

(Ord. No. 10-78, § 1(E), 11-4-10; Ord. No. 16-30, § 3, 3-8-16)