Virginia Regulatory Town Hall
Department of Energy
Department of Energy
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8/24/18  5:06 pm
Commenter: Girard J Gurgick, LoudounPACE

PACE for Condominium Associations, Condominiums and Residential

The Virginia Law § 15.2-958.3. "Financing clean energy programs" reads

E. A voluntary special assessment lien on real property other than a residential dwelling with fewer than five dwelling units or a condominium project as defined in § 55-79.2:

We really need to eliminate all these restrictions.  Give us back our freedom to decide.  Let the lenders not give consent as they have that prerogative elsewhere in the same law. . But it's time to acknowledge that hoemowners and condominum owners are intelligent enough that they don't need a state law to protect them from the benefits of PACE financing.  PACE exposes them to far less risk than using a Home Equity loan for the same purposes. 

At the very least this law should be changed to allow a condo association to put roof top solar or get a new high efficiency boiler- cooling tower or central plant using PACE financing.

CommentID: 66686