Prior to the adoption of Ord. 21063 on 09/06/2011, Section 27-167 read as follows.

    (a)     The city hereby establishes the loan programs listed in this section, subject to the availability of funds for such purposes, for qualified electric customers of the water and light utility. an electric customer rebate program to encourage the purchase of the following types of approved equipment and approved installations:

    (1)    Energy efficient heating, ventilating and air conditioning systems;

    (2)    Ground source heat pumps;

    (3)    Solar water heater;

    (4)    Photovoltaic systems;

    (5)     Insulation and other thermal improvements ;

    (6)    Commercial and industrial lighting upgrades;

    (7)    Energy efficient motors and variable frequency drives;

    (8)    Energy Star appliances as defined in program parameters; and

    (9)    Other equipment that meets the strategic energy reduction goals.

Each category shall have specifications and requirements developed by the water and light advisory board, outlined in the program details, which shall be approved by the city manager.

    (b)     For purposes of providing electric customer rebates, the water and light department shall establish criteria for each type of equipment with regard to proper proof of purchase and installation of equipment to insure the integrity of each project. Each proposed project shall be reviewed by the water and light department to insure that it provides the intended benefits of the program. The  following programs are established to encourage the purchase of approved equipment and approved installations:

    a.    Residential Energy Efficiency Loans

    b.    Commercial Energy Efficiency Loans

    (c)     In order to be eligible for reimbursement, the customer must follow all guidelines established for each program. Equipment must be approved by the water and light department before any reimbursement will be awarded.   For purposes of providing electric customer loans, the water and light department shall establish policy and criteria for each program with regard to proper proof of purchase and installation of equipment to insure the integrity of each project.  Each proposed project shall be reviewed by the water and light department to insure that it provides the intended benefits of the program.

    (d)     Rebates for energy efficiency HVAC or ground source heat pump equipment larger than five (5) tons of cooling capacity or PV systems greater than ten (10) kilowatts will be conditional on a financial assessment by the water and light department and must be pre-approved by the water and light director.   Residential loan amounts shall not exceed fifteen thousand dollars ($15,000.00) plus applicable filing fees for deed of trust.  Loans for multi-family structures shall not exceed thirty thousand dollars ($30,000.00) plus applicable filing fees for deed of trust.

    (e)    Commercial loans shall be restricted to customers that qualify and shall not exceed thirty thousand dollars ($30,000.00).

    (f)    ASHRAE Level II Assessments or investment grade audits shall be required for all commercial loans.

    (g)    Home performance with Energy Star assessments shall be required for all residential loans.

    (h)    All loans made under the program shall bear an annual effective interest rate determined by the length of the loan repayment.  Interest rate shall be set as follows:

    a.    Loan of three (3) years or less    1%

    b.    Loan of greater than three (3) years but not more than
                five (5) years    3%

    c.    Loan of greater than five (5) years but not more than
                ten (10) years    5%

    (i)    All loans shall be secured by a deed of trust for the property to which the improvement purchased with the loan proceeds is affixed or by a deed of trust on an equivalent property.

    (j)    The loan documents, note and security interest or deed of trust evidencing the loan shall be in the form approved by the city counselor.

    (k)    When the owner of property encumbered by a deed of trust securing a loan under this program refinances a loan secured by a first deed of trust on the property, the city manager is authorized to subordinate the city’s deed of trust to the deed of trust securing the refinanced loan if the purpose of the loan is:

    a.    To obtain a lower interest rate, or

    b.    To secure funding for improvements to the property.



(Ord. No. 20065, § 1, 9-15-08; Ord. No. 20582, § 1, 03-15-10; Ord. No. 20582, § 1, 03-15-10 )