BILL NO A06463
SAME AS No same as
SPONSOR Castelli
COSPNSR Jordan, Finch, Rivera P
MLTSPNSR Crouch, McLaughlin
Amd Art 5-L Art Head, SS119-ee, 119-ff & 119-gg, Gen Muni L
Provides for a municipal sustainable energy financing program; changes
municipal sustainable energy loan program; promote the deployment of renewable
energy systems and energy efficiency measures throughout the state.
S T A T E O F N E W Y O R K
________________________________________________________________________
6463
2011-2012 Regular Sessions
I N A S S E M B L Y
March 17, 2011
___________
Introduced by M. of A. CASTELLI -- read once and referred to the Commit-
tee on Energy
AN ACT to amend the general municipal law, in relation to the municipal
sustainable energy financing program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The article heading of article 5-L of the general municipal
2 law, as added by chapter 497 of the laws of 2009, is amended to read as
3 follows:
4 MUNICIPAL SUSTAINABLE ENERGY [LOAN] FINANCING PROGRAM
5 S 2. Section 119-ee of the general municipal law, as added by chapter
6 497 of the laws of 2009, is amended to read as follows:
7 S 119-ee. Legislative findings and declaration. The legislature finds
8 and declares that it is the policy of the state to achieve statewide
9 energy efficiency and renewable energy goals, reduce greenhouse gas
10 emissions and mitigate the effect of global climate change, and advance
11 a clean energy economy; and that to achieve such policy and goals the
12 state must promote the deployment AND FINANCING of renewable energy
13 systems and energy efficiency measures throughout the state; and that
14 [municipalities] MUNICIPAL CORPORATIONS would fulfill an important
15 public purpose by providing [loans] AND/OR ARRANGING TO PROVIDE FINANC-
16 ING to property owners for the installation of renewable energy systems
17 and energy efficiency measures WHICH MAY BE FURTHERED BY THE PARTIC-
18 IPATION OF THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY
19 AS HEREIN PROVIDED.
20 ESTABLISHING THE MEANS TO PROMOTE THE DEPLOYMENT OF RENEWABLE ENERGY
21 SYSTEMS AND ENERGY EFFICIENCY MEASURES THROUGHOUT THE STATE WILL FOSTER
22 NOT ONLY A CLEAN ENERGY ECONOMY, LEADING TO THE DEVELOPMENT OF NEW
23 INDUSTRIES AND NEW JOBS, BUT ALSO A CLEANER ENVIRONMENT. THE REDUCTION
24 IN ENERGY DEMAND THAT WILL RESULT FROM THE DEPLOYMENT OF RENEWABLE ENER-
25 GY SYSTEMS AND ENERGY EFFICIENCY MEASURES WILL: (A) HELP AVOID FUTURE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10146-01-1
A. 6463 2
1 ENERGY SHORTAGES; AND (B) ENABLE THE STATE AND MUNICIPAL CORPORATIONS TO
2 RELY LESS ON SOURCES OF ENERGY THAT HAVE A DETRIMENTAL EFFECT ON AIR
3 QUALITY, TO IMPROVE THE CLEANLINESS OF THE AIR IN THE STATE AND THEREBY
4 TO CONTRIBUTE TO THE HEALTH AND WELL-BEING OF THE PEOPLE OF THE STATE.
5 TO ACHIEVE SUCH POLICY AND GOALS, THE LEGISLATURE FINDS THAT IT IS
6 NECESSARY FOR THE STATE TO FACILITATE THE FINANCING OF RENEWABLE ENERGY
7 SYSTEMS AND ENERGY EFFICIENCY IMPROVEMENTS. FOR MANY BUILDING OWNERS,
8 TRADITIONAL SOURCES OF FINANCING ARE EITHER TOO EXPENSIVE OR SIMPLY
9 UNAVAILABLE TO PAY FOR THE COSTS OF INSTALLING RENEWABLE ENERGY SYSTEMS
10 AND ENERGY EFFICIENCY IMPROVEMENTS. WIDESPREAD DEPLOYMENT OF SUCH MEAS-
11 URES CAN ONLY BE ACHIEVED WITH READILY AVAILABLE, COST-EFFECTIVE FINANC-
12 ING TO MEET THE REQUIRED INITIAL CAPITAL INVESTMENTS.
13 THE LEGISLATURE DECLARES THAT IT IS NECESSARY FOR THE NEW YORK STATE
14 ENERGY AND RESEARCH DEVELOPMENT AUTHORITY AND MUNICIPAL CORPORATIONS TO
15 PLAY A CRITICAL ROLE IN FULFILLING THIS IMPORTANT PUBLIC PURPOSE BY
16 PROVIDING COST-EFFECTIVE FINANCING FOR THE LARGE-SCALE INSTALLATION OF
17 SUCH RENEWABLE ENERGY SYSTEMS AND ENERGY EFFICIENCY MEASURES, FOR THE
18 IMMEDIATE PROTECTION OF THE PUBLIC INTEREST AND FOR THE IMPLEMENTATION
19 OF THE STATE'S GREENHOUSE GAS REDUCTION PLANS.
20 S 3. Section 119-ff of the general municipal law, as added by chapter
21 497 of the laws of 2009, is amended to read as follows:
22 S 119-ff. Definitions. For purposes of this article:
23 1. "ASSESSMENT DISTRICT" MEANS THE AREA WITHIN ONE OR MORE MUNICIPAL
24 CORPORATIONS IN WHICH AN ENERGY EFFICIENCY IMPROVEMENT OR RENEWABLE
25 ENERGY SYSTEM IS FINANCED PURSUANT TO THE PROVISIONS OF THIS ARTICLE.
26 2. "Authority" means the New York state energy research and develop-
27 ment authority, as defined by subdivision two of section eighteen
28 hundred fifty-one of the public authorities law, or its successor.
29 [2.] 3. "Credit support" means and includes direct loans, letters OR
30 LINES of credit, loan guarantees, and insurance products; and the
31 purchase of or commitment to purchase, or the sale of or commitment to
32 sell, debt instruments, including subordinated securities.
33 [3.] 4. "Energy audit" means a formal evaluation of the energy
34 consumption of a permanent building or structural improvement to real
35 property, conducted by a contractor certified by the authority, or
36 certified by a certifying entity approved by the authority for purposes
37 of this article, for the purpose of identifying appropriate energy effi-
38 ciency improvements that could be made to the property. A municipal
39 corporation may, by local law, provide for the certification of such
40 contractors based upon criteria at least as stringent as the state-wide
41 criteria for certification adopted by the authority for purposes of this
42 article.
43 [4.] 5. "Energy efficiency improvement" means and includes any reno-
44 vation or retrofitting of a building to reduce energy consumption, such
45 as window and door replacement, lighting, caulking, weatherstripping,
46 air sealing, insulation, and heating and cooling system upgrades, and
47 similar improvements, determined to be cost-effective pursuant to crite-
48 ria established by the authority. WITH RESPECT TO ONE TO FOUR FAMILY
49 RESIDENTIAL PROPERTIES, THE TERM "ENERGY EFFICIENCY IMPROVEMENT" MAY
50 INCLUDE ANY COMBUSTION HEALTH AND SAFETY RELATED REPAIRS THAT ARE
51 REQUIRED TO BE MADE IN CONJUNCTION WITH OTHER ENERGY EFFICIENCY IMPROVE-
52 MENTS IN ORDER TO CONFORM WITH THE STANDARDS OF THE CERTIFYING ENTITY
53 DESCRIBED IN SUBDIVISION FOUR OF THIS SECTION. However, "energy effi-
54 ciency improvement" shall not include lighting measures or household
55 appliances that are not permanently fixed to real property. IN ANY CITY
56 HAVING A POPULATION OF ONE MILLION OR MORE PERSONS, SUCH CITY MAY, BY
A. 6463 3
1 LOCAL LAW, OR BY RULE PROMULGATED PURSUANT TO SUCH LOCAL LAW, ESTABLISH
2 SUCH CRITERIA, AS WELL AS LISTS OF COST-EFFECTIVE ENERGY EFFICIENCY
3 IMPROVEMENTS, AS DETERMINED TO BE APPROPRIATE.
4 6. "GOVERNING BODY" MEANS: (I) IN ANY VILLAGE, THE VILLAGE BOARD; (II)
5 IN ANY TOWN, THE TOWN BOARD; (III) IN ANY COUNTY, THE BOARD OF SUPERVI-
6 SORS; (IV) IN ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE
7 PERSONS, THE CHIEF EXECUTIVE OFFICER OF SUCH CITY, AND IN ANY OTHER
8 CITY, THE CITY COUNCIL OR COMMON COUNCIL.
9 [5.] 7. "Municipal corporation" means a county, town, city or village.
10 [6.] 8. "Renewable energy system" means an energy generating system
11 for the generation of electric or thermal energy, to be used primarily
12 at such property, by means of solar thermal, solar photovoltaic, wind,
13 geothermal, anaerobic digester gas-to-electricity systems, fuel cell
14 technologies, or other renewable energy technology approved by the
15 authority not including the combustion or pyrolysis of solid waste. IN
16 ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE PERSONS, SUCH CITY
17 MAY, BY LOCAL LAW, OR BY RULE PROMULGATED PURSUANT TO SUCH LOCAL LAW,
18 APPROVE OTHER RENEWABLE ENERGY TECHNOLOGY NOT INCLUDING THE COMBUSTION
19 OR PYROLYSIS OF SOLID WASTE, AS DETERMINED TO BE APPROPRIATE.
20 [7.] 9. "Renewable energy system feasibility study" means a written
21 study, conducted by a contractor certified by the authority, or certi-
22 fied by a certifying entity approved by the authority for purposes of
23 this article, for the purpose of determining the feasibility of install-
24 ing a renewable energy system. A municipal corporation may, by local
25 law, provide for the certification of such contractors based upon crite-
26 ria at least as stringent as the state-wide criteria for certification
27 adopted by the authority for purposes of this article.
28 S 4. Section 119-gg of the general municipal law, as added by chapter
29 497 of the laws of 2009, is amended to read as follows:
30 S 119-gg. Sustainable energy [loan] FINANCING program. 1. The legisla-
31 tive body of any municipal corporation may, by local law, establish a
32 sustainable energy [loan] FINANCING program using, WITHOUT LIMITATION,
33 federal grant assistance [or], federal credit support, OR ANY OTHER
34 GRANTS available for this purpose, AND FOR MUNICIPAL CORPORATIONS WITH
35 THE POWER TO ENFORCE DELINQUENT TAX LIENS, USING PROCEEDS FROM BONDS,
36 NOTES OR OTHER EVIDENCE OF INDEBTEDNESS ISSUED BY THE AUTHORITY, OR ANY
37 OTHER GRANTS, CREDIT SUPPORT OR OTHER MONIES MADE AVAILABLE BY THE
38 AUTHORITY OR OTHERWISE AVAILABLE TO SUCH MUNICIPAL CORPORATION FOR SUCH
39 PURPOSE. A MUNICIPAL CORPORATION WITH THE POWER TO ENFORCE DELINQUENT
40 TAX LIENS MAY CAUSE THE ESTABLISHMENT OF A LOCAL DEVELOPMENT CORPORATION
41 UNDER SECTION FOURTEEN HUNDRED ELEVEN OF THE NOT-FOR-PROFIT CORPORATION
42 LAW, OR OTHER NOT-FOR-PROFIT CORPORATION, TRUST, LIMITED LIABILITY
43 COMPANY, ASSOCIATION OR ORGANIZATION, TO ISSUE DEBT FOR A SUSTAINABLE
44 ENERGY FINANCING PROGRAM AND TO PROVIDE ASSISTANCE TO SUCH MUNICIPAL
45 CORPORATION IN THE IMPLEMENTATION OF A SUSTAINABLE ENERGY FINANCING
46 PROGRAM, AND SUCH ASSISTANCE SHALL BE DEEMED TO LESSEN THE BURDEN OF
47 GOVERNMENT AND CONSTITUTE ACTION IN THE PUBLIC INTEREST.
48 2. Such program may [make loans to] PROVIDE FINANCING TO OR FOR the
49 owners of real property located within the municipal corporation [to
50 finance] FOR the installation of renewable energy systems and energy
51 efficiency improvements, related energy audits and renewable energy
52 system feasibility studies, and the verification of the installation of
53 such systems and improvements. [No] IN ORDER TO IMPLEMENT THE SUSTAINA-
54 BLE ENERGY FINANCING PROGRAM, ANY municipal corporation [shall make such
55 a loan to an owner of property that has received a loan from another
A. 6463 4
1 municipal corporation] ACTING pursuant to [this article] AUTHORIZATION
2 BY RESOLUTION OF ITS GOVERNING BODY, MAY:
3 (A) ENTER INTO A CONTRACT WITH THE AUTHORITY UPON SUCH TERMS AND
4 CONDITIONS AS THE AUTHORITY AND THE MUNICIPAL CORPORATION SHALL DETER-
5 MINE. SUCH CONTRACT MAY PROVIDE FOR THE SALE OR ASSIGNMENT BY A MUNICI-
6 PAL CORPORATION, AND THE PURCHASE OR ACQUISITION BY THE AUTHORITY (USING
7 THE PROCEEDS OF AUTHORITY BONDS OR MONEYS OF THE AUTHORITY INCLUDING,
8 WITHOUT LIMITATION, MONEYS HELD IN THE GREEN JOBS-GREEN NEW YORK FUND)
9 OF FINANCING ARRANGEMENTS ORIGINATED BY, THROUGH OR ON BEHALF OF SUCH
10 MUNICIPAL CORPORATION, PAYMENTS RECEIVED BY SUCH MUNICIPAL CORPORATION
11 IN CONNECTION THEREWITH, OR ANY OTHER RIGHTS OR INTERESTS THEREIN, AND
12 THE ESTABLISHMENT OF LOAN LOSS OR OTHER RESERVES WITH SUCH AUTHORITY
13 MONEYS. SUCH CONTRACT MAY ALSO PROVIDE FOR THE REIMBURSEMENT OF COSTS BY
14 ONE PARTY TO THE OTHER AND MAY AUTHORIZE THE AUTHORITY (OR ITS DESIGNEE)
15 TO ACT AS AN AGENT OF THE MUNICIPAL CORPORATION WITH RESPECT TO SUCH
16 FINANCING ARRANGEMENTS. ANY SUCH CONTRACT SHALL CONTAIN THE FOLLOWING
17 CLAUSE: "THIS CONTRACT IS NOT A GENERAL OBLIGATION OF (INSERT NAME OF
18 MUNICIPAL CORPORATION(S)). NEITHER THE FULL FAITH AND CREDIT NOR THE
19 TAXING POWER OF (INSERT NAME OF MUNICIPAL CORPORATION(S)) ARE PLEDGED TO
20 THE PAYMENT OF ANY AMOUNT DUE OR TO BECOME DUE UNDER SUCH CONTRACT. IT
21 IS UNDERSTOOD THAT NEITHER THIS CONTRACT NOR ANY REPRESENTATION BY ANY
22 PUBLIC EMPLOYEE OR OFFICER CREATES ANY LEGAL OR MORAL OBLIGATION TO
23 APPROPRIATE OR MAKE MONIES AVAILABLE FOR THE PURPOSE OF THE CONTRACT.";
24 AND
25 (B) ENTER INTO SUCH OTHER CONTRACTS WITH THIRD PARTIES AS MAY BE
26 NECESSARY OR APPROPRIATE TO IMPLEMENT SUCH PROGRAM, UPON TERMS AND
27 CONDITIONS DEEMED APPROPRIATE BY SUCH MUNICIPAL CORPORATION, PROVIDED
28 THAT SUCH TERMS AND CONDITIONS ARE CONSISTENT WITH ALL OF THE STANDARDS
29 AND REQUIREMENTS SET FORTH IN THIS ARTICLE.
30 NO MUNICIPAL CORPORATION SHALL PROVIDE SUCH FINANCING TO OR FOR AN
31 OWNER OF PROPERTY THAT HAS RECEIVED FINANCING FROM ANOTHER MUNICIPAL
32 CORPORATION PURSUANT TO THIS ARTICLE FOR THE SAME IMPROVEMENTS, UNLESS
33 PURSUANT TO JOINT SUSTAINABLE ENERGY FINANCING PROGRAM ESTABLISHED WITH
34 SUCH OTHER MUNICIPAL CORPORATION.
35 3. Each such local law establishing the sustainable energy [loan]
36 FINANCING program shall provide for the criteria for making such [loans]
37 FINANCING AVAILABLE and the terms and conditions for repayment of such
38 [loans] FINANCING. The sustainable energy [loan] FINANCING program
39 shall use such lists of cost effective energy efficiency improvements
40 for different building types as are approved by the authority, OR IN ANY
41 CITY HAVING A POPULATION OF ONE MILLION OR MORE PERSONS, AS ARE ESTAB-
42 LISHED BY SUCH CITY BY LOCAL LAW, OR BY RULE PROMULGATED PURSUANT TO
43 SUCH LOCAL LAW.
44 4. The municipal corporation shall verify and report on the installa-
45 tion and performance of renewable energy systems and energy efficiency
46 improvements financed by the loan program in such form and manner as the
47 authority may establish, PROVIDED THAT, IN ANY CITY HAVING A POPULATION
48 OF ONE MILLION OR MORE PERSONS, SUCH CITY MAY, BY LOCAL LAW, OR BY RULE
49 PROMULGATED PURSUANT TO SUCH LOCAL LAW, ESTABLISH A SYSTEM FOR VERIFYING
50 THE INSTALLATION AND PERFORMANCE OF RENEWABLE ENERGY SYSTEMS AND ENERGY
51 EFFICIENCY IMPROVEMENTS FINANCED BY THE PROGRAM.
52 5. Every [loan] FINANCING made under the sustainable energy [loan]
53 FINANCE program shall be repaid over a term not to exceed the weighted
54 average of the useful life of such systems and improvements as deter-
55 mined by the municipal corporation. The municipal corporation shall set
A. 6463 5
1 a fixed rate of interest for the repayment of the principal amount of
2 each [loan] ASSESSMENT at the time the [loan] FINANCING is made.
3 6. The [principal] amount [of each such loan] FINANCED BY THE MUNICI-
4 PAL CORPORATION FOR AN IMPROVEMENT, excluding interest, shall not exceed
5 the lesser of ten percent of the [appraised] FAIR MARKET VALUE OF THE
6 real property [value], AS DETERMINED BY THE MUNICIPAL CORPORATION, or
7 the actual cost of installing the renewable energy system and energy
8 efficiency improvements[, including]. FINANCING PROVIDED PURSUANT TO
9 THIS SECTION MAY INCLUDE the costs of necessary equipment, materials,
10 and labor, the costs of each related energy audit and renewable energy
11 system feasibility study, [and] the cost of verification of such renewa-
12 ble energy system and energy efficiency improvements, AND ANY OTHER
13 RELATED TRANSACTION AND/OR ADMINISTRATION COSTS.
14 7. No such [loan] FINANCING shall be made for energy efficiency
15 improvements unless determined to be appropriate through an energy
16 audit, and no such [loan] FINANCING shall be made for a renewable energy
17 system unless determined to be feasible through a renewable energy
18 system feasibility study.
19 8. [The loan] ANY ASSESSMENTS made under the sustainable energy [loan]
20 FINANCING program shall constitute a lien upon the real property bene-
21 fitted by such [loan] FINANCING.
22 9. The municipal corporation may require [the loan] ANY FINANCING made
23 under the sustainable energy [loan] FINANCING program to be repaid by
24 the property owner through [a charge] AN ASSESSMENT on the real property
25 benefitted by such [loan] FINANCING. A MUNICIPAL CORPORATION IS HEREBY
26 AUTHORIZED TO ASSESS REAL PROPERTY LOCATED WITHIN ITS JURISDICTION BENE-
27 FITTED BY IMPROVEMENTS FINANCED BY THE SUSTAINABLE ENERGY FINANCING
28 PROGRAM, FOR THE REPAYMENT OF SUCH FINANCING AS WELL AS ANY OTHER COSTS
29 RELATED TO THE SUSTAINABLE ENERGY FINANCING PROGRAM. Such charge shall
30 be on the real property and shall be levied and collected at the same
31 time and in the same manner as municipal taxes, provided that such
32 charge shall be separately listed on the tax bill, and provided further
33 that in the event such charge should not be paid in a timely manner, no
34 other municipal corporation shall be required to credit or otherwise
35 guarantee the amount of such unpaid charge to the municipal corporation
36 which authorized the [loan] FINANCING, notwithstanding any provision of
37 law to the contrary. ANY COUNTY, TOWN, CITY OR VILLAGE MAY ENTER INTO
38 AGREEMENTS WITH A MUNICIPAL CORPORATION AND/OR THE AUTHORITY RELATING TO
39 THE ADMINISTRATIVE FUNCTIONS OF THE FINANCING PROGRAM INCLUDING, BUT NOT
40 LIMITED TO, INCORPORATING ASSESSMENT CHARGES ON TAX BILLS, DETERMINING
41 FAIR MARKET VALUES, PROVIDING NOTIFICATIONS WHEN SUCH ASSESSMENTS HAVE
42 NOT BEEN PAID AND COLLECTING UNPAID ASSESSMENTS; PROVIDED, HOWEVER, NO
43 TOWN, VILLAGE OR CITY SHALL BE AUTHORIZED TO ENTER INTO ANY SUCH AGREE-
44 MENT WITH ANY COUNTY OTHER THAN THE COUNTY IN WHICH SUCH TOWN, CITY OR
45 VILLAGE IS LOCATED. ALL OF THE PROVISIONS OF THE REAL PROPERTY TAX LAWS
46 OF THE STATE AND MUNICIPAL CORPORATIONS COVERING THE ENFORCEMENT AND
47 COLLECTION OF UNPAID TAXES OF THE MUNICIPAL CORPORATION SHALL APPLY TO
48 THE ENFORCEMENT AND COLLECTION OF SUCH UNPAID ASSESSMENTS.
49 10. ONE OR MORE MUNICIPAL CORPORATIONS MAY ESTABLISH AN ASSESSMENT
50 DISTRICT TO FINANCE AN ENERGY EFFICIENCY IMPROVEMENT OR RENEWABLE ENERGY
51 SYSTEM BY PREPARING AND FILING IN THE OFFICE OF THE CLERK OF SUCH MUNIC-
52 IPAL CORPORATION A MAP OR PLAN OF THE PROPOSED BOUNDARIES OF THE ASSESS-
53 MENT DISTRICT, WHICH MAY BE NON-CONTIGUOUS. AFTER FILING SUCH PROPOSED
54 MAP OR PLAN, THE GOVERNING BODY OF THE MUNICIPAL CORPORATION SHALL
55 PUBLISH IN THE OFFICIAL PAPER, AT LEAST TEN DAYS BEFORE THE HEARING, A
56 NOTICE OF THE FILING OF SUCH PROPOSED MAP OR PLAN, AND THAT AT A SPECI-
A. 6463 6
1 FIED TIME AND PLACE A HEARING WILL BE HAD TO REVIEW AND FINALIZE THE
2 SAME, AND THAT THE SAID MAP OR PLAN CAN BE EXAMINED BY ANY PERSON INTER-
3 ESTED THEREIN AT THE OFFICE OF THE APPLICABLE OFFICE OF THE MUNICIPAL
4 CORPORATION DURING USUAL BUSINESS HOURS, PRIOR TO SUCH HEARING. THE
5 GOVERNING BODY SHALL MEET AT THE TIME AND PLACE SPECIFIED IN SUCH NOTICE
6 AND HEAR OBJECTIONS TO THE ASSESSMENT DISTRICT BOUNDARIES SET FORTH ON
7 SUCH PROPOSED MAP OR PLAN. IT MAY MODIFY AND CORRECT THE SAME AND ADD OR
8 EXCLUDE LAND TO OR FROM THE BOUNDARIES OF THE DISTRICT, AND MAY ADJOURN
9 THE HEARING FROM TIME TO TIME WITHOUT FURTHER NOTICE AND, AS SOON AS
10 PRACTICABLE, SHALL FINALIZE SAID ASSESSMENT DISTRICT MAP AND FILE THE
11 SAME IN THE APPROPRIATE OFFICE OF THE MUNICIPAL CORPORATION, AND PUBLISH
12 NOTICE OF SUCH COMPLETION AND FILING IN THE OFFICIAL PAPER, AT WHICH
13 TIME THE MAP SHALL BE DEEMED FINAL AND CONCLUSIVE.
14 11. NO AMOUNT SHALL BE ASSESSED UPON ANY PROPERTY WITHIN AN ASSESSMENT
15 DISTRICT PURSUANT TO A SUSTAINABLE ENERGY FINANCING PROGRAM WITHOUT THE
16 WRITTEN CONSENT OF ALL OWNERS OF SUCH PROPERTY, SET FORTH IN AN AGREE-
17 MENT WITH THE MUNICIPAL CORPORATION PROVIDING THE TERMS AND CONDITIONS
18 UPON WHICH FINANCING WILL BE PROVIDED TO AND REPAID BY THE OWNERS OF
19 SUCH PROPERTY.
20 12. NOTHING IN THIS ARTICLE SHALL PREVENT A TOWN FROM ELECTING TO
21 PROCEED UNDER SECTION TWO HUNDRED NINE-I OF THE TOWN LAW.
22 S 5. This act shall take effect immediately.
