Local Option - Special Improvement Districts (Georgia)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Georgia

Name Local Option - Special Improvement Districts
Incentive Type PACE Financing
Applicable Sector Commercial, Industrial, Local Government, Residential, Schools
Eligible Technologies Locally determined, Locally determined
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs


























Terms Determined locally.
Program Administrator Programs administered locally

Date added to DSIRE 2010-05-27
Last DSIRE Review 2013-08-07



References DSIRE[1]


Summary

Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Georgia has authorized certain local governments to establish such programs, as described below. (Not all local governments in Georgia offer PACE financing; contact your local government to find out if it has established a PACE financing program.)

Georgia has authorized the expansion of "business improvement districts" to allow county, city, or town development authorities to provide financing for the installation of renewable energy systems, energy efficiency or conservation improvements, and water efficiency or conservation improvements to residential, commercial, industrial or other qualifying property.



      
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: O.C.G.A. § 36-62-2

Date Enacted 2010-05-20


Authority 2: O.C.G.A. § 36-42-3

Date Enacted 2010-05-20

















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"