(a) A qualifying property owner and a capital provider in a designated region may apply to a local government under this program to finance a qualified project and enter into a written consent agreement in which the property owner consents to the local government imposing an assessment and lien on the qualifying property to repay the financing. (b) A local government may enter into a partnership with one or more other local governments for the purpose of carrying out the purposes of this article. (c) A qualified program may be administered by a for-profit or nonprofit organization on behalf of and at the discretion of the local government. (d) A local government may only enter into an assessment agreement with the record owner of the affected qualifying property in a designated region. An assessment agreement entered into pursuant to this section or a summary memorandum of the contract must be recorded in the public records of the court of probate in the county in which the qualifying property is located by the local government. The recorded agreement shall provide: (1) Constructive notice that the assessment to be levied on the qualifying property constitutes a lien as described in Section 11-81-246; (2) A legal description of the qualifying property covered by the lien; (3) The amount secured by the lien; (4) The maturity date for payment of all amounts secured by the lien; (5) The names and addresses of the current owners of the qualifying property subject to the assessment; (6) The person or entity owed the assessment; (7) The person or entity filing the notice; (8) A reference to the statutory assessment lien provided under this article; and (9) A copy of the executed consent agreement. (e) Prior to entering into an assessment agreement, the owner of a qualified property and the capital provider shall warrant all of the following to the local government in the application: (1) That all property taxes and any other assessments levied on the same bill as property taxes are paid. (2) That there are no involuntary liens, including, but not limited to, construction liens on the qualifying property, which will not be expunged as a consequence of the financing. (3) That the qualifying property owner is current on all mortgage debt on the property. (f) A qualifying improvement shall be affixed to an existing building or facility that is part of the qualifying property and shall be considered an improvement to the building or facility, a fixture attached to the building or facility, or part of a new construction of a building or facility. (g) An installation of a qualifying improvement requiring a license or certification of work under applicable law or building code must be performed by a contractor or evaluator properly certified, licensed, or registered in this state. (h) Prior to the execution of the assessment agreement, an applicant must provide the following documents to demonstrate that the project intends to benefit the public through energy or water resource conservation, lowering public health costs or risks, or reducing public emergency response costs or risks: (1) For an existing building where energy or water usage improvements are proposed: a. An energy analysis from a licensed engineering firm, engineer, or other qualified professional listed in the program guidebook; and b. A statement by the author of the analysis that the proposed qualifying improvements are intended to enhance energy or water efficiency or conservation or to incorporate renewable resources. (2) For resilience improvements, certification from a licensed professional engineer or another qualified professional listed in the program guidebook stating that the qualifying improvements are intended to result in improved resilience. (3) For a new construction, a certified study from a licensed professional engineer, engineering firm, or other qualified professional stating that the proposed qualifying improvements are intended to enable the project to exceed the current building code requirements for: (i) energy efficiency; (ii) water efficiency; or (iii) utilizing renewable energy or renewable water; or that the proposed improvements are intended to meet or exceed resilience standards of the local government’s building codes or, if none are available, comply with nationally recognized resiliency standards. (i)(1) The execution of the assessment agreement by the local government shall be based solely on the application, the information required under this article, the program guidelines, and the consent agreement. The assessment agreement shall include the following statement: “Nothing in the acceptance of the application, execution of this agreement, or the placement of the assessment and lien shall constitute an endorsement by the local government, explicit or implicit, that the materials provided in the application are true and correct, nor is the acceptance of the application a warranty, guarantee, validation, or endorsement of the information, findings, or conclusions, if any, in the application. The local government is not liable for the failure of the performance of any of the improvements associated with the application, nor does the local government warrant that any of the improvements are eligible for funding under this article.” (2) The assessment agreement shall also include a statement that the local government shall not be involved in decisions to enforce or foreclose on the assessment and lien, and that such authority rests with the capital provider.
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