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Colorado House Bill 1350, signed into law in 2008, authorized the formation of energy improvement districts to finance energy efficiency and renewable energy projects. Boulder County immediately took action and created a bonding program, modeled after a similar program in Berkeley, CA to help homeowners surmount the high upfront costs for renewable energy installations. In November 2009, Pitkin, Eagle, and Gunnison County voters passed a similar measure to create a Property Assessed Clean Energy (PACE) program here. This voluntary, opt‐Improvement District enables eligible property owners to apply for financing through the County to fund their energy upgrades, the costs of which would then be repaid via special assessment on their property tax bill. Property owners who do not consentto participate in the District are not impacted by the program. As of June 2010, Eagle County has scaled back eligibility for the Energy Smart Program in response to lender letters issued by Fannie Mae and Freddie Mac. In order to participate, applicants must show they either hold title to their home or that their mortgage is not backed by Fannie Mae or Freddie Mac. The County is working to remedy the situation and is waiting for further guidance from the Federal Housing Finance Agency before allowing others to participate in the program. The County anticipates that the delay is temporary and will alert the public once further clarification has been issued.For more information visit Eagle County’s Energy Smart program page, or contact Adam Palmer at Eagle County at (970) 328-8734 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Also see our Energy Smart FAQ. For more information, see our Energy Smart Program FAQ. The Eagle Valley Alliance received funding for this program from the Governor’s Energy Office.
Links:
Vail Daily News, "Eagle County nearing 'soft launch' for loan program," July 19, 2010
Vail Daily News, "Smart Loan program gets grant," June 15, 2010
Vail Daily News, "Smart Loans OK'd in Eagle County," May 4, 2010
Colorado Environmental Coalition's Bill Summary
NY Times Green Inc., "Home Efficiency Program Praised for Growth," March 11, 2010 |
