HomeMy WebLinkAboutBOCC Workshop Packet 11-16-2009MONDAY, NOVEMBER 16, 2009
1:30 P.M.
BOARD WORKSHOP
1. CALL TO ORDER - COMMISSIONER PAULA A. LEWIS, CHAIR, BOARD OF COUNTY
COMMISSIONERS
2. BOARD DISCUSSION - COMMISSIONER DOUG COWARD
ENERGY BLOCK GRANTS:
ROOFTOP SOLAR
3. TRANSIT FUNDING - COMMISSIONER LEWIS
4. QUESTIONS AND COMMENTS
5. ADJOURNMENT
CONFERENCE ROOM #3
2300 VIRGINIA AVENUE, FORT PIERCE FLORIDA 34982
NOTICE: All Proceedings before this Board are electronically recorded. Any person who decides to appeal any action taken by the Board at these meetings will need a record of the
proceedings and for such purpose may need to ensure that a verbatim record of the proceedings is made. Upon the request of any party to the proceedings, individuals testifying during
a hearing will be sworn in. Any party to the proceedings will be granted the opportunity to cross-examine any individual testifying during a hearing upon request. Anyone with a disability
requiring accommodation to attend this meeting should contact the St. Lucie County Community Services Manager at (772) 462-1777 or TDD (772) 462-1428 at least forty-eight (48)
hours pfior to the meeting.
BOARD OF
COUNTY
COMMISSIONERS
To: Faye Outlaw, County Administrator
From: Doug Coward St. Lucie County Commissioner
Date: Friday, Nov 13, 2009
RE: Energy Block Grants - Related Program Ideas
DOUG COWARD
COMMISSIONER
The following information is provided to help advance our discussion on Monday, November 16, 2009, about Energy
Block grants and the rapidly approaching grant deadline of December 14, 2009.
It is evident the Board of County Commissioners remains particularly interested in energy and utility conservation as
well as solar energy (both thermal and photovoltaic). Staff is already investigating opportunities to retrofit public
buildings and assist our affordable housing programs, the Green Collar Task Force and others are moving forward
with training and apprenticeship programs, and now is the time for the Board to discuss all available options to
promote distributed rooftop solar energy — which makes sense for St. Lucie County and Florida on multiple levels.
First, the renewable energy experts have identified rooftop solar as the preferred renewable energy (RE) option in
Florida (See Attachment One). Navigant Consulting Group — a nationally respected firm -- was hired by the Florida
Public Service Commission (PSC) to complete a comprehensive evaluation of all forms of renewable energy and to
determine which were the most technologically viable in Florida. The attached summary indicates that solar — PV has
the greatest potential in Florida.
Second, new distributed solar markets will create green jobs and economic development and help resuscitate one of
the hardest hit job sectors (e.g., construction industry). It will also foster private sector activity and new business
ventures, diversify the tax base and statewide energy portfolio, create a multiplier effect on the economy, and provide
many positive community and environmental benefits.
The State of Florida needs to adopt a Renewable Portfolio Standard (RPS) that promotes meaningful RE goals and
enables distributed models and private sector involvement. The RPS will create Renewable Energy Credits (REC),
stimulate new markets and private sector involvement, and make public/private partnerships financially feasible. One
primary business model that has been highly successful in California and elsewhere are Power Purchase
Agreements (PPA) between private solar companies and businesses and governmental agencies (See Attachment
Two). PPAs are feasible on larger projects, such as the million square feet of flat roof top on county buildings, if the
state has and RPS and REC.
Another important consideration is the large upfront cost of solar PV installation. In order to enable individual
homeowners -- with limited amounts of disposable income and equity in their homes -- to secure low -interest loans for
solar projects, there needs to be a financing program in place. Solar rebates are not the answer because they are
only available if you are wealthy enough to afford the upfront cost of solar PV. Some local governments have
established voluntary taxing units to create a solar financing program that allows pre -qualified homeowners to pay
back solar loans as an assessment on their property taxes (See Attachment Three). This approach extends the term
of the loan, reduces the monthly principal and interest (3-4%), and generates new currency to the homeowner
through energy savings.
Another option to consider is the creation of a Community Development Financing Institution (CDFI), comprised of
local governments in the Treasure Coast region and private banks. This public/private partnership would create a
revolving loan fund specifically geared towards low -interest loans for solar projects and green business (See
Attachment Four). Based on our direct conversation with the solar experts at the U.S. Department of Energy, the
CDFI concept was very well -received because it would: (1) leverage public money through private bank participation;
(2) create sustainable funds for green projects; and (3) include a regional approach. Because the Energy Block
grants are anticipated to be highly competitive, we must have an exceptional program to receive support.
CHRIS DZADOVSKY, District No. 1 • DOUG COWARD, District No. 2 • PAULA A. LEWIS, District No. 3 • CHARLES GRANDE, District No. 4 • CHRIS CRAFT, District No. 5
2300 Virginia Avenue • Fort Pierce, FL 34982-5652 • (772) 462-1412
FAX (772) 462-2131 • TDD (772) 462-1428
www.stlucieco.gov
Attachment One
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Attachment Two
Power Purchase Agreements Drive Solar Energy
A recent analysis by Alexander von Welczeck, the CEo of Mill Valley, California -based Solar Power Partners Inc., the
third largest solar energy developer in the United States, highlights the importance of power purchase agreements,
or PPAs, in driving the solar energy industry to new heights.
As Welczeck points out, the current recession has had an impact on the solar energy industry. In fact, market
research firm iSuppli Corp. expects the photovoltaics industry in 2009 to drop to 3.5 gigawatts, down 32 percent
from 5.2 gigawratts installed in 2008. This drop in installed capacity is obviously expected to impact solar industry
revenues as well, largely due to massive overcapacity, falling prices and weak demand. The loss, says iSuppi, is
expected to lop more than 40 percent.
The government has attempted to stabilize the industry, first in the form of the American Recovery and
Reinvestment Act of 2009, which provided investment tax credits (ITCs) for solar installations, and more recently
by adapting the ITC to grant status for those firms whose negative tax liability made claiming ITCs impossible.
State and local incentives, from rebates to tax relief, also help defray the costs of solar installations, but the real
problem for consumers (whether business or individual homeowners) has always been the high upfront costs of
installing a solar system, which averages out to about $1o,000 per kilowatt but drops the more one installs. Thus, a
r-kilowatt system might cost up to $1o,000, but a 7-kilowatt system might cost only $63,000.
The cosLibenefit ratio, however — remembering that a kilowatt is r000 watts, and the utility generally charges about
eight to ten cents per kilowatt hour —crakes the cost of each solar -generated watt between $7 and $ ro. When times
are tough, as they are now, a $7-watt of electricity is literally unthinkable, and incentives cover, at most, 3o percent
of upfront costs.
In come PPAs, which offer cash -strapped homeowners and businesses the opportunity to go green and reduce their
carbon footprint, install renewable solar, and still benefit with electricity costs that are manageable on almost any
budget.
PPe\s are offered by independent solar producers, who arrange for financing, install, own and operate solar systems.
Unlike companies or individuals, PPAs have the permitting and rebate portions of solar installation down to a
science, so the system flows smoothly from the initial contract to the refund/grant/tax break. This is a huge benefit,
since estimates place the average cost of solar paperwork at about $ t per watt. For novices, the cost can obviously go
much higher.
According to Welczeck, the majority of commercial solar capacity installed in California between last year and this
was PPA-driven, and no wonder, since this type of solar incentive — which delivers electricity, under long-term
contract, at a fixed rate sometimes as low as that offered by the local utility — has found considerable favor with
municipalities and public entities (like hospitals and schools) facing budget constraints not seen since the early
1980s.
Solar is also good for creating jobs, as recently noted by Sharp Solar Vice President T. C. Jones, Jr., who says that the
work at the Tennessee Sharp solar factory "couldn't be done without human hands".
Given state and local government incentives, and the emergence of PPAs as a positive force in the solar industry,
doomsayers who predict the solar industrywill bottom out this year might want to wait until all the figures are in to
prognosticate.
+� AUG'b 2009
Solar Power Purchase Agreements (SPPA)
Summary of October 2008 report from the Rahus Institute
1. SPPAs focus on grid -tied photovoltaic (PV) technology which produces electricity from
sunlight for customers connected to the local utility grid.
2. Reduces, not replaces, power from electric utility.
3. SPPA is an alternative to financing and owning the system:
a. No upfront expense; option to purchase at end of contract
b. You pay the owner of the system a pre -determined electricity rate for term of
contract (15-20 years)
c. No responsibility for installation, operation or maintenance of equipment
d. Electricity is purchased from the entity which owns the system
e. Demands more complex negotiations
f. SPPA owned by entity that may have limited liability and assets and parties may
change overtime.
4. Parameters
a. Use more than 200,000 kWh annually
b. Offer a minimum of 10,000 s/f of unshaded space— produces 100,OOO kWh
c. May need to replace roof prior to installation
5. State rules and utility regulations vary dramatically which will impact the financial feasibility
a. Utility may not have process for connecting smaller on -site solar projects to the
utility grid system.
b. Utility may not offer net metering, which is the number of kWh you buy from the
utility minus the amount you export to the grid system. If your system is sized to
only produce what you need, this issue is less important.
c. May or may not have Time of Use (TOU) tariff — ideal to sell PV power at highest
rate (peak of day) while buying utility power at off-peak (evening, when solar not
producing); again, credit goes to owner of the system
d. Solar renewable energy certificates (SRECs) may or may not be available. Some
states allow utilities to meet state requirements for required percentage of
portfolio being from renewable sources by buying SRECs from small solar
producers.
6. Recommended Steps
a. Confirm project is feasible (parameters)
b. Analyze current energy profile for other ways to reduce costs through lighting,
building envelope, a/c unit replacements and conservation pans
c. Identify state rules/utility regulations that may impact financial feasibility
d. Find a solar services provider (see project examples for contacts)
e. Negotiate contract
f. Collaborate on system design, permitting and installation.
7. Project Examples
a. Denver International Airport and Fresno Airport
b. California State University
c. Lagunitas School District
d. City of Pendleton and San Diego Water Treatment Plants
e. Chuckawalla Valley State Prison
kWh= 1 kilowatt of electricity supplied for 1 hour; 1000 kW = 1 Megawatt = power for 750 homes
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Attachment Three
Offer Loans for Solar Energy Systems
States, utilities, and local governments can use low -interest loans to encourage the adoption of
renewable energy technologies. Agencies and utilities can administer a loan program directly or
leverage funds by working with private lenders.
Most state loan programs emphasize energy efficiency improvements that can include solar. About
one-third of the 41 existing state loan programs target solar installations for nonprofit and public
buildings, including local government buildings and schools. State loan programs that target
renewable energy exclusively, such as the Vermont and Connecticut programs, tend to target
commercial buildings. Maximum loan amounts are typically about $1 million, and interest rates
and repayment terms usually vary by project. Residences —where the emphasis is on efficiency and
conservation projects —are eligible for nearly half of the existing state loan programs. States typically
collaborate with private lenders in administering the program. The maximum loan for residential
projects generally ranges from $10,000 to $30,000 with varying interest rates and repayment terms
ranging from 3 to 20 years.
Utility loan programs usually target residential solar installations. Repayment schedules vary and are usually
determined on an individual project basis, but some utilities offer a repayment term of up to 10 years.
Local governments offer a variety of loan programs. Most municipalities and counties collaborate
with a local bank or community economic development organization to secure favorable terms or to
structure interest rate buy -downs.
Benefits State, utility, and local government loan programs encourage customers to install
solar energy systems by allowing consumers to spread up -front equipment costs
over the life of a loan. These loan programs offer lower interest rates, better
terms, and lower transaction costs relative to private lenders. Loan programs may
be more politically viable than cash incentives, and they can even become self-
sustaining through a revolving fund mechanism.
32 Soli7 inu,r C� r�i'unih� Givac fn Lr;cal G �rimilnt, hilt' JS
Implementation Tips and Options
Explore multiple options for funding loan programs, including
Revolving loan funds
Public benefits funds
RPS alternative compliance payments
Environmental noncompliance penalties
Sale of bonds
Annual appropriations
Incorporate key features of effective loan programs, including
A low interest rate, longer repayment terms (at least 10 years), and minimal fees
An easy and concise application process
Coordination with other state and local programs and relevant stakeholder groups to
educate the public about solar technologies and to market the loan program
A mechanism for tracking the details of program use, costs, and energy savings or
production to enable program evaluation and improvement
Consider a long-term assessment on the customer's property tax bill as an alternative way to
structure a loan program. See Create a Property Assessed Clean Energy Financing Program.
Examples
Orlando, Florida: Offering a Low -Interest Utility Loan Program
The Orlando Utilities Commission partners with the Orlando Federal Credit Union to offer its customers
low -interest loans for solar installations. Customers can borrow up to $7,500 for an SWH system at an
interest rate of 0% to 4%, depending on the repayment term, which ranges from three to seven years.
Customers can borrow up to $20,000 for a PV system at an interest rate of 2.0% to 5.5% over a term
ranging from 2 to 10 years. Loans are repaid over time as fixed payments on customers' monthly utility
bills. This program complements the utility's production -based incentive program for PV and SWH.
Maui County, Hawaii: Establishing Zero Percent Interest Loans for SWH Systems
In September 2002, Maui Electric Company (MECO) and the County of Maui teamed up to launch the
Maui Solar Roofs Initiative to increase the use of renewable energy in the county. Under the initiative,
MECO offers zero percent loans for SWH as well as a $1,000 rebate for installations completed by one of
its approved solar contractors.
Resident homeowners with existing electric water heaters are eligible and must make a down payment
equal to 35% of the system cost after MECO's rebate. This loan program also accepts applications
from renters who have the property owner's permission to install an SWH system. The County of
Maui supplies the funds, and MECO administers the loans. To date, the county has invested a total of
So F�,,F�r..ii g You! Community A Guide: for Local G� r;�nr.ts 1�Iv 209
$700,000 in a revolving fund to support the program. Loan payments are based on expected monthly
energy cost -savings. As payments replenish the fund, more applicants can be served. Some of the funds
have been designated specifically for households at or below the area median income.
Hamilton County, Ohio: Reinstating the Home Improvement Program
The Hamilton County, Ohio, Home Improvement Program (HIP) was originally initiated in 2002 and
then reinstated in May 2008. A HIP loan allows homeowners in Hamilton County communities to
borrow money to repair or remodel homes or rental property at interest rates 3% below the lowest rate
a bank would normally offer. The loan is usually structured as a home equity loan secured by a second
mortgage on the property. Credit requirements apply. Since 2002, HIP has extended 2,200 loans.
Eligible residential (one- or two-family homes) and commercial properties must have an assessed
value of less than $350,000 and must be current on property tax payments. There's no property
value limit on multifamily dwellings (three or more units). Loans may be used for alteration, repair,
maintenance, or improvements, including renewable energy and energy efficiency improvements.
Funds can't, however, be used for luxury projects (like swimming pools and hot tubs) or for free-
standing appliances. Appliances that are permanently installed are permissible.
Additional References and Resources
WEBSITES
Database of State Incentives for Renewables & Efficiency
1.Cis�re1 , Irq
This website contains a summary of renewable energy loan programs in the United States. DSIREusa.org, maintained by the North Carolina
State Solar Center in partnership with IREC, is the only comprehensive, regularly updated database of state renewable energy incentives in
the United States. DOE funds this ongoing effort.
Orlando Utilities Commission Green
The Orlando Utilities Commission's (OUC) Green website contains the details of the utility's low -interest loan programs.
Maui Electric Interest -Free Loans for Solar Water Heaters
This website describes the utility's interest -free loan program for SWH.
Hamilton County Home Improvement Program
The Hamilton County loan program is described on this site.
PUBLICATIONS
Developing an Effective State Clean Energy Program. Clean Energy Loans
Clean Energy Group and Clean Energy States Alliance, March 2009
This paper summarizes innovative loan approaches and practices that have worked effectively to advance clean energy programs at the
state level.
Paper:...
4 SGlai Pc"'erinrl Four Co irunity, A Guide f : Local Gov erninenrs ;July 2009
Create a Property Assessed Clean Energy financing Program
One of the main barriers to widespread solar adoption is the initial cost of a solar system. And most
people aren't aware that financial structures are available to spread that cost across many years,
making the system more affordable. Many people are familiar with financing the purchase of a home
using a mortgage or a vehicle using a loan. The same type of financing is necessary for widespread
solar deployment so consumers can pay for their solar energy over time on a monthly or semiannual
bill instead of one lump sum.
To address this barrier, municipalities and counties across the country are launching innovative
public/private financing programs that allow property owners to spread the cost of renewable energy
systems and energy efficiency upgrades over a long-term contract. Property owners borrow money from
the local government and repay the loan obligation through a long-term special assessment on their
individual property tax bill. Municipalities and counties have funded these clean energy programs by
issuing bonds, which the local government pays back over time by collecting payments through a new
line item on participating property owners' property tax bills.
Property assessed clean energy programs are typically 100% opt -in, and property tax expenses remain
unchanged for those who choose not to participate. If a participating owner sells the property, the
repayment obligation typically transfers to the new owner.
For this type of financing to work, local jurisdictions must have authorization to create a special
assessment district or other type of district that allows repayment via property tax bills. Most states
already authorize municipalities and counties to create special districts to finance "public goods"
projects like street beautification or sewer system upgrades. If special district authority exists, the
statute can usually be broadened to allow clean energy projects to be similarly financed. If authority
does not exist, new legislation must be passed at the state level.
Local governments commonly use bonding authority to finance these types of programs. General,
municipal, or revenue bonds can be used to pay capital costs. The type of bonding authority available
to a municipality or county, though, can limit available funding options. In states that allow only local
governments to authorize revenue bonds, an amendment that recognizes special assessment payments
from borrowers as revenue may be necessary.
The passage of the 2009 American Recovery and Reinvestment Act removed the federal government's
"anti -double dipping" rule introduced in the Energy Policy Act of 2005. Property owners are now
allowed to claim the 30% federal ITC and take advantage of "subsidized energy financing" like that
provided by a property assessed clean energy program.
5fla Pr)l' f i l i') YoUf A G_;1d( For I c:J I 3l ,ui� 35
Benefits
This approach to financing offers a number of benefits to solar energy system
owners including a long-term, fixed -cost financing option; a loan tied to the
property (instead of the system owner's credit standing); a repayment obligation
that transfers with the sale of the property; and the potential to deduct the loan
interest from federal taxable income as part of the local property tax deduction.
For local governments the benefits are also clear. This financial model can help
local governments meet climate and energy goals with little to no liability or
exposure to a municipality's general fund. These programs do have administrative
costs, but those costs can be included in the bond issuance and be repaid by
program participants. Because the program can be structured to fully leverage
private investment, a municipality or county can implement a property assessed
clean energy program with almost zero budget impact.
Implementation Tips and Options
Determine whether your local jurisdiction is authorized to create a special district within an
existing state statute and whether an amendment to broaden the statute is necessary. Alternately,
you may be able to circumvent the special district process and pass an ordinance that enables
citizens to add a line item to their property tax bill for energy efficiency and renewable energy
loans, as the city of Annapolis, Maryland did in November, 2008.
Identify whether existing bonding authority is adequate to support a property assessed clean
energy program in your community. Other funding sources, including federal tax credit bonds
like clean renewable energy bonds (CREBs) or qualified energy conservation bonds
(QECBs) and public —private partnerships may be available.
Design a financing structure that yields enough revenue to cover the principal and interest
payments to the investors/bondholders, program administration costs, and a reserve fund to
cover participant delinquencies.
Limit the special assessment to participating property owners.
Consider the scope of work involved in the program and determine whether an internal or
external organization is better suited to administer the program. At least one company has
emerged that offers local governments a turnkey solution to property tax financing, handling
program administration, financing, application processing, and customer service.
Work with the program administrator to create a simple application process for property owners.
Educate the solar industry about the program and engage industry in program marketing.
Consider financing energy efficiency as well as renewable energy projects and prioritize property
owners who have received energy audits or have otherwise made informed decisions about the
most cost-effective improvements for their property.
3n S.�la� Pc�., in `bw col)"Inu: it,'1. A, Guiof, for Lcr. ,I Cr„�:; nmont� ;July 2009
Examples
Berkeley, California:
Developing BerkeleyFIRST (Financing Initiative for Renewable and Solar Technology)
Berkeley approved a financing program in September 2008 to allow residential and commercial
property owners to pay for energy efficiency improvements and solar system installations as
a voluntary, long-term special assessment on their individual property tax bills. Under the
BerkeleyFIRST program, the city furnishes the funding for the project from bonds it repays through
special assessments on participating property owners' property tax bills. Berkeley contracted with
Renewable Funding, LLC, to maintain turnkey program administration. Renewable Funding created
an information and application website linked to a database to facilitate program operation and
evaluation. Berkeley is running a 40-home PV pilot project before it launches the full program, which
will include energy efficiency improvements. Dozens of other cities around the United States are
beginning to emulate this model.
Sonoma County: Implementing an Energy Independence Program
The Energy Independence Program gives residential and commercial property owners the option of
financing energy efficiency, water efficiency, and renewable energy improvements through a voluntary
assessment on their property tax bills. The program is similar to others in California authorized by
the 2008 Assembly Bill 811 but is the first to include water efficiency measures. Eligible equipment
must be permanently attached to existing buildings; new construction does not qualify. The special
assessments are attached to the property, not the property owner. If the property is sold, the assessment
stays with the property.
Sonoma County expects to offer fixed rates that are at or below the rates participants could otherwise
receive on home -equity loans from financial institutions. An exact interest rate will be determined
at the time the contract is signed. Once the contract is signed, the interest rate will be fixed for the
life of the assessment; although, the county may reduce the rate if it can after negotiating long-term
financing for the program. The Energy Independence Program can be combined with utility and state
rebates, but financing will be available only for the post incentive cost. Tax credits, on the other hand,
will not affect the amount of financing available.
Loans are repaid through a special assessment on property tax bills. Loans between $2,500 and $5,000
will be set for repayment in 5 or 10 years. Projects costing more than $5,000 can be repaid over 10 or
20 years at the property owner's discretion. Projects ranging from $60,000 to $500,000 will require
approval by the program administrator. Projects valued over $500,000 will require specific approval by
the Sonoma County Board of Supervisors.
Boulder County, Colorado: Establishing Boulder's ClimateSmart Loan Program
Voters in Boulder County approved Ballot Issue IA ClimateSmart Loan Program in November 2008,
authorizing Boulder County to issue up to $40 million in bonds to provide special financing options
for renewable energy and energy efficiency improvements to property owners in the county. This
program differs from the "Berkeley model" in several ways. First, the repayment period is shorter; loans
Solar Pothering Your Community: N Guide for Local Governments 11 July 2009 3�
y.:
to homeowners are repaid over 15 years as a special assessment on the homeowner's property tax bill.
Second, Boulder County is the first local government to issue federally tax exempt as well as taxable
bonds to finance a property assessed clean energy program. Third, Boulder County decided to aggregate
applicants and then issue a large bond based on demand instead of issuing individual "mini -bonds"
for each project as Berkeley is doing. Interest rates for Boulder County participants will not exceed
6.75% for income qualified loans 015% or less of area median income) and 8.75% for open loans.
Applicants must attend an educational workshop to learn about the program requirements and to
receive information on energy audits and the benefits of investing in energy efficiency measures before
renewable energy measures. In March 2009, more than 1,700 people attended program workshops.
Boulder County held its first application round for the ClimateSmart Loan Program from April 1 to
April 10, 2009. The county plans to issue approximately $6.6 million in bonds to finance the renewable
energy and energy efficiency projects of approximately 400 approved participants.
Additional References and Resources
WEBSITES
Database of State Incentives for Renewables & Efficiency
C Iiir, a .o.t' Lit
This website contains useful information about congressional authorizations of CREBs and QECBs in 2008 and 2009. DSIREusa.org,
maintained by the North Carolina State Solar Center in partnership with IREC, is the only comprehensive, regularly updated database of state
renewable energy incentives in the United States. DOE funds this ongoing effort.
Treasury Direct
ud' �I-1RCf,Ci Vfi. SI;JS� iJ_
This website includes rates posted for QECBs, qualified tax credit bonds (OTCBs), new clean renewable energy bonds (New CREBs),
qualified zone academy bonds (QZABs), and qualified school construction bonds (QSCBs).
The Vote Solar Initiative
prUC!e
Vote Solar is working with state and local governments around the country to pass enabling legislation to clear the way for property
assessed clean energy financing programs. This website features case studies, legal analyses, and model requests for proposals (RFPs).
BerkeleyFIRST: Financing Initiative for Renewable and Solar Technology
This website was developed specifically for applicants to the BerkeleyFIRST solar financing program and is operated by Renewable Funding,
LLC, under contract with the City of Berkeley.
Sonoma County's Energy Independence Program
This website describes Sonoma County's Energy Independence program, which allows property owners to finance energy efficiency, water
efficiency, and renewable energy improvements through a voluntary assessment on their property tax bill.
Boulder County ClimateSmart Loan Program
This website describes the ClimateSmart Loan Program requirements and application process in Boulder County, Colorado
SS Soli Pcv eying Your CGT_Jr,unity E' Guide roe Local July 2009
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Letters to the Edit or CDFIs and The Business of Going Green: Triple bottom line investing & CDFIs Irite rViCV`
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Sports By Dafina Williams, Rosalie Sheehy Cates, Ronald L. Phillips
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Entertainment Goss Home Inspections
It's time to examine our nation's environmental policies Music Palm Beach, Martin and St Lucie Co and the role that community development financial
Features Home and mold inspections institutions (CDFIs) can play in environmental financing
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Books www.sFlortdahomeinspection.coin for low-income people and communities. As the
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Movie Reviews _ We chovia Retirement Canadian writer and essayist Ronald Wright has 3 s
Home & Garden Customize Your Retirement Plan. Sign stated, "Now is our last chance to get the future right."
Industry__ Up to Get Started Today.
States www.wachovia.com In many ways, the CDFI industry is in a very strategic ? ",
Health Column and important antposition to "get it right" by making )
sure ;
Section 42 & LIHTC
Senior Health various environmental policies, remediation, and
Environment
Asset Management Real Estate Asset especially Investment in the "green economy" protects`
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www.Cargil[InvestmentGmup.com the most vulnerable in our society and provides '
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south Asia the economic mainstream.
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To do this, however, we need to understand the practice and advance the policies of what is referred to
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--- as triple -bottom -line investing. This investing takes into account the nexus of the economic feasibility of
Ewor�dwire___ a project; the social benefits and equity generated by the investment; and environmental stewardship
MarkeeWe.... _..... . _ that is preserved, enhanced, and protected by the investment -the triple bottom line as a measure of
GlobeNewswire return on investment.
PRNewswire
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Marketwire Canada Historically, the for -profit sector has largely focused on the first
24-7 Pressre lease bottom line of financial return and CDFIs on the second bottom
.co re PRline of benefits to low-income people and communities. Today
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NlVe wswire g newspapers or news broadcasts fail to include something about
Business Wins global warming's negative impacts, as well as the opportunities
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Newssiazewire _._ for the emerging green economy. All three bottom lines must
Spanish Releases come together. Incorporating concerns for the environment as a
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decision -making criteria in our daily lives, workplace, and
About Us advocacy is no longer a boutique, lifestyle value of the leisure
_contact_Us__.._ ......._ class, modern-day hippies, or elite consumers of presumably more expensive and out -of -reach fruits,
_Feedback vegetables, and meat.
Writers
Bookmarks
Link to Us As global climate change becomes a pressing social issue, green business have moved to the forefront
Advertise of the agendas of many legislators, business leaders, and community activists. A green business
Sitemap blends economic success with environmental benefits, creating an economically viable path toward
TELHN<)L_O Y remediation of environmental damages and toward long-term sustainability.
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Text to Speech According to experts at the Opportunity Finance Network (www.opportunitAinance.net), a national
Voice Over IP network of more than 169 financial institutions, CDFIs are increasingly becoming involved in tackling
W'-F' environmental issues. CDFIs have always achieved social and economic returns on their investments
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iPod by getting involved on a deeper level with their communities.
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rae',WS rA3 KRS It is a natural fit to add the environment to the equation, with CDFIs deploying capital for green
_Folsom.._.. _ _____ businesses and so promoting triple -bottom -line investing. For example, CDFIs are now financing green
_oran.Qe coumy_...._ real estate development, green affordable housing projects, and green energy production. CDFIs are
_Boca Raton ____
StAugustine also financing recycling businesses, sustainable agriculture, and timber businesses. These
Vero Beach transactions, occurring at the community level across the United States, allow socially conscious
investors to receive a return on investment that includes economic, environmental, and social impact
More than a buzzword, green has become the overarching term to describe environmentally conscious
investment strategies. These investments can also spur job growth, innovation, and revitalization of
distressed communities across the country.
Seeding and growing green business is vital to both the environment and to the continuation of the
economic system in the United States. Mass production of foods, goods, and services with little regard
for the land, air, water, and people that produce them must become a part of the past.
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CDFIs boost green business: A Success Story _..
There is evidence that green business is producing growth in various sectors of the economy, and Linked
these new industries and businesses will be important sources of job growth in the coming years. For
example, the Natural Marketing Institute reports that the growing market of purchasing decisions based Sponsor Links:
on the environmental and social impact of products and manufacturers rose to $209 billion in the I,
United States in 2005. This shift provides an opportunity for small businesses and entrepreneurs to
create green products and technology as the green industry continues to grow. Keep the Fleece �SLSfNtiEftll+,
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For example, when a retired forestry professor, Bob Lanford, and his two partners, a retired rancher TEN COMM MUTTS
and a retired banker, decided to start a new company that would create jobs in Granite County,
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Montana, population 2,965, they looked to the forests around them and saw an unwanted but abundant i r viEsrstl Rs
resource that they believed could be transformed into a profitable product. E e
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The resource was slash -the limbs and branches left behind by tree -thinning operations intended to CD1@CiW
rove the health of the forest and to reduce the hazard of wildfire. Landowners are required to bum Free ebook Help NewsBlaze provide
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rove q ! news, including top slot
the slash piles on their property, but the three retirees had another idea. They would process the raw "" ` "''""""""'""'"""""""""""` Home and Garden,
wood into wood shavings and sell it as bedding for horses and other animals. Dever pay Technology, The Environ
and more. Newselaze wr
more than
I Relevant sites.
In 2007, the trio launched Big Sky Shavings. Among the financing partners contributing to the creation $8
of the start-up was the Montana Community Development Corporation (MCDC) of Missoula. MCDC for dot COm
partners with people and communities found unique ways to prosper, providing innovative financing I domains
and business development products that create income opportunities for all members of its community. 14Ciiek Here
Since 1989, MCDC has served hundreds of entrepreneurs in western Montana with loans, consulting -- i
and training. 1.a7iiCi YFISU TS 1
MCDC provided Big Sky Shavings with two loans totaling $111,750, which, when combined with i
$538,000 in financing from the Flint Creek Valley Bank, enabled the company to get started. MCDC
also provided invaluable guidance. "They have an individual on staff, who is an expert in wood
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products;' says Lanford. "He has certainly been a good sounding board and source of technical i.""._..........".,..,.._................_,".-..-.,-_.
expertise to help us with the development of the project." Fic-1 OArLY HOROSCOPE �
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After just three months in business, Big Sky Shavings is thriving. It has already become a two -shift
operation that employs 12 people. Equally important, it is finding a use for wood waste that would
otherwise go up in smoke. lai %,
Personal a lava
Recommendations for CDFIs and the Environment:
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Improve and expand existing tax incentives for green housing development and ; could be here
rehabilitation. The tax code contains modest incentives for energy efficiency in new single -
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family homes and commercial buildings and provides a credit for solar installations, but the If you have a
code does nothing specifically to encourage green rehabilitation of homes for low-income quality wetssite I
families.
The new homes credit should be modified to serve multifamily rental properties, in
combination with existing housing programs, and the solar credit should be expanded and
revised to work more effectively with housing tax credits.
Increase the funding level for the Green Jobs Program in the U.S. Department of Energy
to $300 million.
` Create a green markets tax credit for investments in green technology, conservation
efforts, and investments in green intermediaries. Recent Visitors
" Support funding for green power source innovation through the U.S. Department of ;J FFFDJ1T
Energy. Green power is electricity generated using renewable resources, such as wind,
geothermal, and biomass. Those resources generate electricity with a net zero increase in Popular Pages Today
carbon dioxide emissions. Green power purchases also support the development of new 1. H1 N1 vs Seasonal
renewable energy generation sources nationwide. Flu vs Common
Provide loan guarantees from the U.S. Department of Energy for financing provided to Cold 2n.77%
green businesses, particularly for loans made to start-up businesses that have shown 2. Robert Confirm
s
Directorr Coonffiirmrm s
promising new technologies. Romance 16<1%
Make the Leadership in Energy and Environmental Design (LEED) certification (or a 3. How iPhone
comparable standard) for sustainable buildings, currently a voluntary process, a Unlocking
requirement for all new commercial construction. Works 10.14%
. The LEED certification should remain voluntary for homeowners, but the homeowners 4. Response to
who build LEED-certified dwellings should receive an additional federal tax credit. 'Hindus Laud
According to studies done by the U.S. Green Building Council, buildings that receive LEED University of
Colorado -Boulder
certification use less energy and cut carbon emission by as much as 40 percent. Over Meditation
Center' 8.70%
This article is an excerpt that is condensed from longer essays published in the book The NEXT 5. Response to '1,200
American Opportunity: Good Policies for a Great America. Contributors are: Dafina Williams, a member Illegal Workers
of the policy team at Opportunity Finance Network, a national network of more than 160 financial Fired in
institutions; Rosalie Sheehy Cates, Executive Director, Montana Community Development Corporation Minnesota' ago%
(MCDC); and Ronald L. Phillips, President and Founder of Coastal Enterprises Inc. 6.
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More information at http;//www.nextamericanoaportumity.org H1 N1 Nasal Spray
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