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Program Definitions

Applicant

1) A person or entity that owns a Non-Residential Structure; OR 2) a person or entity that leases or manages all or part of a Non-Residential Structure, AND is authorized to make improvements to such structure, AND has obtained a release from the owner of the Non-Residential Structure, as evidenced by the owner’s signature in the Request for Financing Form, to sign the Note to seek Program financing. Eligibility of not-for-profit entities that own a residential (1-4 family) structure will be determined at NYSERDA’s discretion.

Approved Energy Efficiency Measures Worksheet

Worksheet included in the Request for Financing Package, completed by the Applicant, which identifies the eligible energy efficiency improvements, associated costs to implement, estimated annual energy cost savings, simple payback, and total Eligible Loan Amount.

The Approved Energy Efficiency Measures Worksheet format is available on the Program webpage (Approved Energy Efficiency Measures Worksheet [PDF]).

Eligible Applicant (or Applicants)

1) A person or entity that owns a Non-Residential Structure; OR 2) a person or entity that leases or manages all or part of a Non-Residential Structure, AND is authorized to make improvements to such structure, AND has obtained a release from the owner of the Non-Residential Structure, as evidenced by the owner’s signature in the Request for Financing Form, to sign the Note to seek Program financing. Eligibility of not-for-profit entities that own a residential (1-4 family) structure will be determined at NYSERDA’s discretion.

Eligible Loan Amount

The total project cost less estimates of any available NYSERDA or utility incentives. NYSERDA shall not be liable for any misrepresentations of incentive estimates or availability. Under the terms of the On-Bill Recovery Loan Product, the Eligible Loan Amount cannot exceed $50,000. Under the terms of the Participation Loan Product. The Eligible Loan Amount relates to the costs of the energy efficiency project and does not reflect any decision on the part of the Lender of the amount to be financed. While the total Eligible Loan Amount may exceed $100,000, the amount of financing an Applicant can receive from NYSERDA under the Program is limited to 50% of the Eligible Loan Amount, up to a maximum of $50,000. NYSERDA’s portion of a Participation Loan will remain bound by the cost of the energy efficiency project.

GJGNY Participation Agreement

A document evidencing agreement between NYSERDA and a Lender of the intent of both parties to enter into participation loans for Applicants seeking financing for recommended energy efficiency improvements, as approved by NYSERDA in the Request for Financing Package. The GJGNY Participation Agreement is available on the Program webpage (Participation Agreement [PDF]).

Lender

A community development financial institution, a credit union insured by the National Credit Union Association, or any commercial bank, trust company, savings bank, savings and loan association, or mortgage Lender authorized by Federal or State law to operate in New York State.

Loan

A secured or unsecured consumer or business loan, or a home equity loan, with a fixed term no greater than 10 years and a normal amortization (i.e., 10 year term, 10 year amortization). The interest rate charged by the Lender may be fixed or variable. Lines of credit are not eligible for the Program.

Loan Originator

A community development financial institution, a credit union insured by the National Credit Union Association, or any commercial bank, trust company, savings bank, savings and loan association, or mortgage Loan Originator authorized by Federal or State law to operate in New York State.

Master Loan Servicer

NYSERDA’s third party loan servicer, currently the Concord Servicing Corporation, retained to 1) monitor OBR Loan origination and provide servicing on GJGNY loans; and 2) to monitor Participation Loan closing documents and receive NYSERDA’s principal payments from Lenders on behalf of NYSERDA. NYSERDA shall notify Loan Originator in writing not less than 60 days in advance of any change in the Master Loan Servicer during the term of this Agreement.

Non-Residential Structure

A building that is used or occupied by a Small Business or a Not-for-profit corporation.

Note

A NYSERDA provided template, the On-Bill Recovery Loan Note, used by the Lender/Loan Originator when originating Small Business/ Not-for-Profit OBR Loans on behalf of NYSERDA.

Not-for-profit

A corporation resident in New York State formed exclusively for a purpose or purposes, not for profit or financial gain, and where no part of the assets, income or profit is distributable to or benefits its members, directors, or officers, except as allowed by statute.

OBR Loan

A loan, originated on behalf of NYSERDA. The OBR loan will have a fixed term greater than or equal to the minimum OBR Loan term identified on the NYSERDA-approved Request for Financing Package but not to exceed 10 years, and a 2.5% interest rate. OBR Loan shall mean the Note, the On-Bill Recovery Program Declaration, the On-Bill Recovery Program Notice to Borrower, and other forms as required by applicable federal and state laws and regulations. NYSERDA shall notify Loan Originator in writing not less than 60 days in advance of any change in the interest rate.

On-Bill Recovery Loan Originator Agreement (Attachment A):

A document in which the Lender agrees to act as a Loan Originator and originate loans on behalf of NYSERDA using NYSERDA’s underwriting criteria for Applicants seeking financing for energy efficiency improvements, as approved by NYSERDA in the Request for Financing Package.

On-Bill Recovery Program Declaration

A NYSERDA-provided document, signed and notarized by the owner of the Non-Residential Structure, evidencing the existence of the OBR Loan, the total OBR Loan Amount and term, and noting that the OBR Loan is repaid through a charge on the utility bill, which, if not fully satisfied prior to the sale or transfer of ownership, shall survive changes in ownership, tenancy or meter account responsibility. The OBR Program Declaration notifies subsequent purchasers of the property of the existence of the OBR Loan.

On-Bill Recovery Program Notice to Borrower

A NYSERDA-provided document describing the conditions of the On-Bill Recovery Program and the process for submission and resolution of customer complaints.

Participation Loan

A secured or unsecured consumer or business loan with a fixed term no greater than 10 years and a normal amortization (i.e., 10 year term, 10 year amortization). The interest rate charged by the Lender may be fixed or variable. Lines of credit are not eligible for the Program.

Participation Loan Agreement (Attachment B):

A document evidencing agreement between NYSERDA and a Lender of the intent of both parties to enter into participation loans for Applicants seeking financing for recommended energy efficiency improvements, as approved by NYSERDA in the Request for Financing Package.

Qualified Energy Consultant

An individual who:

  • Conducts Commercial Energy Assessments for NYSERDA- or utility-contracted entity, or its subcontractor, through a NYSERDA or utility commercial energy efficiency program and has at least two years experience conducting commercial energy assessments and/or feasibility studies; or
  • Holds a Bachelor of Science in Engineering, Physics, or a related field awarded by a four-year accredited university and has at least one year of experience conducting commercial energy assessments and/or feasibility studies; or
  • Holds an Associate degree in Engineering, Physics, or a related field awarded by an accredited university and has at least two years experience conducting commercial energy assessments and/or feasibility studies; or
  • Holds an unrelated Bachelor of Science or Arts awarded by a four-year accredited university and has at least two years experience conducting commercial energy assessments and/or feasibility studies; or
  • Holds and unrelated Associate degree awarded by an accredited university and has at least three years experience conducting commercial energy assessments and/or feasibility studies; or
  • Is a Certified Energy Manager or Certified Energy Auditor with at least four years experience conducting commercial energy assessments and/or feasibility studies; or
  • Meets other criteria or requirements established by NYSERDA

Request for Financing Package

The application package used as the basis for the Loan, approved by NYSERDA, and provided to the Lender by the Applicant. The Request for Financing Package will contain: 1) the NYSERDA-approved Request for Financing Form; 2) the Approved Energy Efficiency Measures Worksheet; 3) a copy of the incentive application (if applicable); 4) the contractors cost proposal and the technical cut sheets for the measures to be implemented; and 5) the approved qualified energy audit.

Small Business

A business that is resident in New York State, independently owned and operated, not dominant in its field, and has 100 or less employees.

Small Business/Not-for-Profit Template

A template form used to electronically transmit information on closed OBR Loans to the Master Loan Servicer. The form and the transmittal instructions are available on the NYSERDA website (nyserda.ny.gov/gjgny-small-business-nonprofit-financing).

Title Company

NYSERDA’s contractor, currently NY Title Research Corporation, retained to: perform a last owner search to verify property ownership for an OBR Loan; record the On-Bill Recovery Program Declaration executed by the owner in conjunction with the OBR Loan; and to record declaration satisfaction. NYSERDA shall notify Loan Originator in writing not less than 60 days in advance of any change in the Title Company during the term of this Agreement.

Unlisted Energy Efficiency Services

Qualified Energy Efficiency Services identified on a Qualified Energy Audit that are not listed as Prequalified Energy Efficiency Services on the Program webpage (nyserda.ny.gov/gjgny-small-business-nonprofit-financing). If applicable, an eligible Unlisted Energy Efficiency Service must meet requirements listed on NYSERDA's website (nyserda.ny.gov). If a customer chooses to implement a stand-alone Unlisted Energy Efficiency Service, it must have a simple payback of 15 year or less.

Proposed fuel switching projects will be evaluated on a case by case basis.

Last Updated: 06/06/2013