181BConditions to be met before Council may enter into environmental upgrade agreement

181B Conditions to be met before Council may enter into environmental upgrade agreement (1) A Council must not enter into an environmental upgrade agreement unless— S. 181B(1)(a) repealed by No. 9/2020 s. 363(2). S. 181B(1)(b) repealed by No. 9/2020 s. 363(2). S. 181B(1)(c) repealed by No. 9/2020 s. 363(2). (d) the total amount of taxes, rates, charges and mortgages owing on the rateable land and specified in a notice from the owner under subsection (3) when added to the total value of the environmental upgrade charges as set out in the proposed agreement is an amount that does not exceed the capital improved value of the land prior to any works that would be undertaken as part of the agreement. S. 181B(1A) inserted by No. 9/2020 s. 363(3). (1A) Before entering into an environmental upgrade agreement, the owner of the rateable land may obtain the written agreement of an occupier to pay the environmental upgrade charge that will apply in respect of their occupancy. (2) The owner who intends to be a primary party to the environmental upgrade agreement must advise, in writing, any existing mortgagee in respect of the rateable land to which the agreement will apply— (a) that the owner intends to enter into an environmental upgrade agreement; and (b) of the details of all environmental upgrade charges that are expected to be declared by a Council in respect of the rateable land under the environmental upgrade agreement. (3) The owner who intends to be a primary party to the environmental upgrade agreement is further required to give a Council notice of the following details (in writing) in respect of the rateable land to which the agreement will apply— (a) details of all registered and unregistered mortgages over the rateable land including— (i) the total amount owing in respect of each mortgage; or (ii) if a relevant mortgage is held against 2 or more properties including the rateable land, the proportion of the debt secured by the mortgage that applies to the rateable land calculated in accordance with subsection (5); (b) details of all taxes, rates and charges owing on the rateable land (including the total amount owing in respect of each tax, rate or charge) imposed by or under an Act. S. 181B(4) repealed by No. 9/2020 s. 363(2). (5) For the purposes of subsection (3)(a)(ii), the proportion of the debt secured by the mortgage that applies to the rateable land must be calculated by distributing the debt between all the properties against which the mortgage is held in proportion to the relative capital improved values of the properties. (6) In this section— ***existing mortgagee***, in respect of rateable land to which an environmental upgrade agreement will apply, means any holder of a mortgage for that land, whether registered or unregistered. S. 181C inserted by No. 39/2015 s. 4.