60 STEP THREE 20.13
ADVANCED: GREENING YOUR CITY THROUGH SMART FINANCING AND BUILDING CODES
To lower real or perceived cost barriers to green building and to achieve even greater market penetration, innova- tive local governments are developing creative financing models to help resi- dents and other building owners invest in green building. In addition, leading local governments are implementing and enforcing better building codes to support sustainability goals. These lo- calities are out at the forefront, blazing a trail for others to follow.
COST-EFFECTIVE HOME ENERGY EFFICIENCY FINANCING
XX The Town of Babylon, under the Long Is- land Green Homes (LIGH) initiative, offers residents low-interest loans for retrofitting their homes at no out-of-pocket cost to the homeowner. Through a $2 million revolv- ing loan fund, the town subsidizes up to $12,000 of upgrades per home, obliging the homeowner to pay a monthly benefit assessment fee which is, generally, lower than the monthly energy savings realized from the improvements. Should the month- ly obligation be in arrears, it is assigned to the property tax. The town levies a 3% administrative fee incorporated into the monthly payments. Should the homeown- er move before the obligation is satisfied, the obligation stays with the home.
BABYLON, NY (216,125 POP.) 20.17
X X (466,741 POP.) The Sonoma County Energy Indepen- dence Program gives commercial and residential property owners the oppor- tunity to borrow funds to increase their property’s energy efficiency. Qualifying retrofits include insulation, cool roofing, heating and air conditioning systems, waterless urinals, solar panels, and ener- gy efficient windows. The money is paid back as an assessment on the property, due at the same time as the property taxes. Five, ten, and twenty year terms are available at 7% interest.
SONOMA COUNTY, CA Local Action Moves the World •
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PLANET EARTH \\ GREENER BUILDINGS
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