(1) “Capital provider” means a private third-party entity, including its designee, successor, and assigns, that makes or funds C-PACER financing, including refinancing, under this chapter;
Terms Used In Tennessee Code 68-205-102
Capital provider: means a private third-party entity, including its designee, successor, and assigns, that makes or funds C-PACER financing, including refinancing, under this chapter. See Tennessee Code 68-205-102
Commercial property: means :(A) Privately owned commercial, industrial, or agricultural real property. See Tennessee Code 68-205-102
Contract: A legal written agreement that becomes binding when signed.
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Financing: means financing and refinancing for qualified projects under this chapter. See Tennessee Code 68-205-102
Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Lien: A claim against real or personal property in satisfaction of a debt.
Local government: means a county, metropolitan government, municipality, or other political subdivision of this state. See Tennessee Code 68-205-102
program: means a commercial property assessed clean energy program established under this chapter. See Tennessee Code 68-205-102
Program administrator: means the entity designated by a local government to administer a C-PACER program, including:(A) A department or individual within a local government. See Tennessee Code 68-205-102
Property owner: means the owner or owners on title, duly recorded, of a commercial property. See Tennessee Code 68-205-102
Qualified improvement: means a permanent improvement installed and affixed to commercial property and intended to:(A) Decrease energy consumption or demand through the use of efficiency technologies, products, or activities that reduce or support the reduction of energy consumption. See Tennessee Code 68-205-102
Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(2) “Commercial property” means:
(A) Privately owned commercial, industrial, or agricultural real property;(B) Privately owned residential real property consisting of five (5) or more dwelling units, including property owned by nonprofit, charitable, or religious organizations; and(C)Property owned by this state or a local government entity, but leased to a privately owned entity, including:
(i) Industrial development corporations;(ii) Housing authorities; or(iii) Health, educational and housing facility boards;(3) “C-PACER program” or “program” means a commercial property assessed clean energy program established under this chapter;(4) “Financing” means financing and refinancing for qualified projects under this chapter;(5) “Financing agreement” means the contract under which a property owner agrees to repay a capital provider for the C-PACER financing, including, but not limited to, details of finance charges, fees, debt servicing, accrual of interest and penalties, and terms relating to treatment of prepayment and partial payment, billing, collection, and enforcement of the C-PACER financing;(6) “Local government” means a county, metropolitan government, municipality, or other political subdivision of this state;(7) “Program administrator” means the entity designated by a local government to administer a C-PACER program, including:
(A) A department or individual within a local government;(B) A quasi-governmental organization such as an industrial development corporation, housing authority, or health, educational, and housing facility board;(C) A capital provider; or(D) Another private and independent third party designated by the local government;(8) “Program guidebook” means a comprehensive document that illustrates the applicable program and establishes appropriate guidelines, specifications, underwriting and approval criteria, and standard application forms consistent with the administration of a program and not detailed in this chapter, including:
(A) A form assessment contract between the local government and the property owner specifying the terms of assessment under the program, financing provided by a third party, and remedies for default or foreclosure;(B) A form local government Notice of Assessment and C-PACER lien; or(C) A form Notice of Assignment of Assessment and C-PACER lien between a local government and a capital provider;(9) “Project application” means an application submitted for a program to demonstrate that a proposed project qualifies for C-PACER financing and for a C-PACER assessment and lien;(10) “Property owner” means the owner or owners on title, duly recorded, of a commercial property;(11) “Qualified improvement” means a permanent improvement installed and affixed to commercial property and intended to:
(A) Decrease energy consumption or demand through the use of efficiency technologies, products, or activities that reduce or support the reduction of energy consumption;(B) Support the production of clean, renewable energy, including through the use of a product, device, or interacting group of products or devices on the customer’s side of the meter that generates electricity, provides thermal energy, or regulates temperature;(C) Decrease water consumption or demand and address safe drinking water through the use of efficiency technologies, products, or activities that reduce or support the reduction of water consumption;(D) Allow for the reduction or elimination of lead from water that may be used for drinking or cooking; or(E) Increase water or waste water resilience, including through storm retrofits, flood mitigation, and stormwater management, or wind resistance, energy storage, microgrids, and other resilience projects approved by the local government;(12) “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, and including qualified improvements installed no more than two (2) years prior to the date of application;(13) “Record owner” means the owner listed on the property’s legal documents on file or the owner of an estate for years created pursuant to a written ground lease agreement or similar agreement; and(14) “Region” means a geographical area as determined by a local government pursuant to § 68-205-104.
