Section 27-167 Energy efficiency loans.
Prior to the adoption of Ord. 21063 on 09/06/2011, Section 27-167 read as follows.
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
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;
and other thermal improvements
(6) Commercial and industrial lighting upgrades;
(7) Energy efficient motors and variable frequency
(8) Energy Star appliances as defined in program
(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.
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
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
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.
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
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
(g) Home performance with Energy Star assessments
shall be required for all residential
(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
(5) years 3%
c. Loan of greater than five (5) years but not more
(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 citys deed of trust to the deed of trust securing the refinanced
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