Section 68-205-102 - Chapter definitionsAs used in this chapter:
(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;(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.Amended by 2022 Tenn. Acts, ch. 868, Secs.s2, s3 eff. 4/14/2022.Added by 2021 Tenn. Acts, ch. 138, s 1, eff. 7/1/2021.