The board of directors of a property assessed energy improvement district, together with any third-party administrator it may select, shall determine:(1) The guidelines of the PACE program, including without limitation that: (A) The base energy performance evaluation shall be completed by a certified and qualified energy evaluation professional to determine existing energy use and options for improved energy efficiency;(B) The approved improvements create a positive cash flow;(C) Work shall be performed by qualified and certified contractors in the field of energy efficiency and methods of renewable energy installation;(D) Performance testing and verification shall be performed by a qualified professional after the work is completed;(E) Adequate consumer protections are in place; and(F) The applicable underwriting standards for the participants in the program are established;(2) The qualifications of the vendors performing installations under this chapter;(3) The mechanisms by which the district will remit the received special assessment payments and any cost reimbursement; and(4) Any other matters necessary to implement and administer the program.Amended by Act 2015, No. which the district will remit the received special assessment payments and any cost reimbursement; and(4) Any other matters necessary to implement and administer the program.Amended by Act 2015, No. 1162,§ 6, eff. 7/22/2015.Added by Act 2013, No. 1074,§ 1, eff. 8/16/2013.
Arkansas Legal Code