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Project Resources


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Municipal Energy Financing

UVLSRPC Projects

Project Administrator:

Christine Walker

Project Title:

Municipal Energy Financing

Related Services:

Energy

Project Summary:

Over the past year, there has been a much stronger push from the federal level to fund energy efficiency programs as part of a national agenda to foster a clean energy economy that generates sustainable high-quality jobs and reduces our dependence on imported fossil fuels. Vital to this process is to develop innovative financing solutions that reach broadly across energy efficiency and low-carbon energy options.

 

Energy financing districts enable local governments to raise money through the issuance of bonds to fund these clean energy projects (though bonds are not the only possible source of funds).

 

It is important to do an assessment of a variety of financing options currently available. These include products available from local banks, credit unions, community development financial institutions (CDFIs), or the local utility incentives. Outreach efforts will play an important role in the success of any program. Identifying existing means within the community to disseminate public information will be a first step. It is vital to connect with local community organizations, such as neighborhood associations, small business councils, local nonprofits, rotary clubs, religious groups, and other organizations. The Town of Hanover will evaluate whether capacity exists in-house to manage this program or whether it will need to engage financial or administrative partners. The project will create a special tax district or tax assessment district if there is sufficient interest to create a cost effective program.

 

Additional Information

Funders:

  • US Department of Housing and Urban Development, Community Challenge Planning Grant

Committees Involved:

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