§ 8–1778.43. Approval of application.

(a) The administrator shall review the property owner’s application and, if it finds that the application satisfies all requirements, shall enter into a loan, or other, agreement with the property owner.

(b) The property owner may request in the loan application that the Energy Efficiency Loan include an amount equal to all or part of the cost of the Energy Efficiency Audit. If the amount requested is reasonable, the administrator shall include the amount in the Energy Efficiency Loan.

(c)(1) Except as provided in paragraph (2) of this subsection, before entering into an Energy Efficiency Loan with a property owner, the administrator shall verify, based upon information provided in the property owner's application, that the value of the savings from the installation of the Energy Efficiency Improvements is reasonably expected to exceed the amount of the principal of, and interest on, the Energy Efficiency Loan, including any cost of the Energy Efficiency Audit included pursuant to subsection (b) of this section.

(2) A property owner's application may be approved at the discretion of the administrator even when the value of the savings from the installation of the Energy Efficiency Improvements is not expected to exceed the amount of the principal of, and interest on, the Energy Efficiency Loan, if:

(A) The property owner has consented;

(B) The project meets high standards of energy efficiency or water efficiency or stormwater retention; and

(C) The project contributes to the public purpose declared in § 8-1778.02.