It is the policy of both the Town of New Castle and the State of
New York to achieve energy efficiency and renewable energy improvements,
reduce greenhouse gas emissions, mitigate the effect of global climate
change, and advance a clean energy economy. The Town of New Castle
finds that it can fulfill this policy by providing property assessed
clean energy financing to qualified property owners (as defined below)
for the installation of renewable energy systems and energy efficiency
measures. This local law establishes a program that will allow the
Energy Improvement Corporation (as defined below, "EIC"), a local
development corporation, acting on behalf of the Town of New Castle,
pursuant to a municipal agreement (the "municipal agreement") to be
entered into between the Town of New Castle and EIC, to make funds
available to qualified property owners that will be repaid through
charges on the real properties benefited by such funds, thereby fulfilling
the purposes of this local law and accomplishing an important public
purpose. This local law provides a method of implementing the public
policies expressed by, and exercising the authority provided by, Article
5-L of the General Municipal Law (as defined below, the "Enabling
Act").