Wednesday, June 25, 2014

County Opts In to low cost HERO Financing tied to property taxes

        Santa Cruz County residents will soon have the option of financing green energy improvements on their property taxes.
          The Santa Cruz County Board of Supervisors opted Tuesday to join the California HERO (Home Energy Renovation Opportunity) Program.  The Program allows property owners of the unincorporated county to finance renewable energy and energy and water efficiency improvements on their property taxes.  Residents will also be able to purchase efficient wood burning stoves, thus improving the air quality in the San Lorenzo Valley.
          Supervisors Bruce McPherson and Neal Coonerty had proposed participating in this program.
          "This program will give residents the option of getting new, clean wood-burning stoves or solar energy renovations," said Supervisor McPherson.  "We face significant air quality problems in the San Lorenzo Valley, mostly from old wood stoves.  This gives us an opportunity to improve the quality of our air."
          Communities across California offer HERO to eligible property owners for energy efficient upgrades and improvements such as solar, HVAC, windows, roofing, water savings products, and more.  HERO provides financing to make energy and water-efficiency renovations affordable for homeowners by providing long-term, competitive financing through an assessment on their property tax bill.  It is 100% voluntary and is made available through a partnership with public agencies and 100% private investment at no cost to participating jurisdictions.
          Property owners who wish to participate agree to repay the amount borrowed through the voluntary contractual assessment together with their property taxes.  The financing is available for eligible improvements on both residential and non-residential properties.
          The HERO Program has been financing projects in California since 2011.  It is the largest Property Assessed Clean Energy (PACE) Program in California, financing 95% of all residential PACE projects in the state in 153 communities, with a total of $225 million financed to date on over 12,000 homes.  More than 150,000 products qualify for financing.
          Within the next six months, the Administrators of the HERO Program will complete the legal and contractual steps and announce the availability of the program.
          For more information, please visit the California HERO Program at: HERO Financing Residential Application:

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