(a) “Program administrator” means a person administering a PACE program on behalf of, and with the written consent of, a public agency. “Program administrator” does not include a public agency.
(b) For purposes of this division, “program administrator” does not include a person who meets both of the following conditions:
(1) The person does not administer a PACE program that provides financing for the installation of efficiency improvements on residential property with four or fewer units.
(2) The person does not administer a PACE program that provides financing for the installation of efficiency improvements on real property with a market value of less than one million dollars ($1,000,000).