§ 30-5. Eligibility of property and property owner.

(a) In general.

To be eligible for a clean energy loan:

(1) the commercial property for which the energy improvements are proposed must be located in the City; and

(2) the property owner must:

(i) have a 100% ownership interest in the commercial property;

(ii) demonstrate that no taxes, assessments, fees, or other charges encumbering the commercial property are delinquent; and

(iii) provide written proof that all current holders of a mortgage or deed of trust on the commercial property have expressly consented to the clean energy loan and its status as a priority lien on the property.

(b) Ability to repay.

Before any clean energy loan is approved under the PACE Loan Program, the Administrator must give due regard to the property owner's ability to repay the loan, in a manner substantially similar to that required for a mortgage loan under State Commercial Law Article §§ 12-127, 12-311, 12-409.1, 12-925, and 12-1029.