Public Hearing on a new ordinance referred to as PACE.
ACTION: Schedule order.
Since the introduction of the ordinance on October 25 several minor clerical changes have been made. The ordinance language attached is the most recent version. A letter of introduction is also attached.
From Efficiency Maine's website:
In December 2009, Efficiency Maine, at that time a division of the Maine Public Utilities Commission (PUC), submitted a grant proposal to the United States Department of Energy (US DOE) for federal stimulus funds (the American Recovery and Reinvestment Act or ARRA). Efficiency Maine proposed to establish a revolving loan fund to finance energy efficiency improvements to buildings in Maine.
In the Spring of 2010, the Maine legislature passed the "PACE" law (L.D. 1717). This law makes it possible for a homeowner to receive a loan for home energy savings improvements, and importantly, for that loan to be transferred from the first homeowner to a subsequent purchaser of the property.
The new law in Maine states that a homeowner can only get a PACE loan for his or her property if the property is located in a municipality that has adopted a PACE ordinance. The homeowner may be able to get another kind of loan, but until the municipal government has adopted a PACE ordinance, residents in their town cannot get a PACE loan.