LOANS AVAILABLE TO BEAVERTON HOMEOWNERS FOR ENERGY-EFFICIENCY UPGRADES
Posted: July 12th, 2010 12:11 PM
- Reduce Your Impact on the Environment While Saving Energy Costs -
A new program from the City of Beaverton is helping Beaverton homeowners reduce their home's energy costs by offering low-interest loans to make weatherization and energy-efficiency improvements.
Eligible homeowners may apply for a 5 year, 5 percent loan from $3,000 to $10,000 (estimated monthly payments of $57-$189) for enhancements and renovations to aspects such as insulation and duct sealing, heating and hot water heaters, door and windows, and solar power.
"This is an opportunity for Beaverton residents to make significant strides in reducing the impact their homes have on the environment," said Mayor Denny Doyle. "The City of Beaverton is excited to bring this and other sustainable programs to the community."
In order to be eligible for this program, Beaverton homeowners must meet the following criterion: have equity in their home that equals or exceeds the amount of the loan, be current on mortgage and taxes, have a credit score of 620 or higher, and have a debt-to-income ratio that shows the household can afford the monthly payments. A non-refundable $25 credit-check fee is due at the time of application.
Each applicant must complete a home energy audit that will be conducted by the City of Beaverton's partner Unlimited Choices, who will also help in obtaining bids and overseeing construction. The Hope-4-Homes program prioritizes activities that same the most energy, such as insulation and duct sealing. If the home is already energy efficient, other activities may be eligible for funding.
All work will be inspected by a City of Beaverton building inspector (if required), Unlimited Choices staff and the homeowner, who signs off on all the work, upon completion. A second energy audit to determine the new energy savings concludes each project. Loan repayment will commence after the work is completed.
For more information about this program or to receive an application, please contact Andrea Lindberg at (503) 526-2488.
A priority initiative of Mayor Denny Doyle's 10 Point Plan for 2010, Beaverton's sustainability projects also include the launch of the Solar Beaverton pilot residential solar energy program, a greenhouse gas inventory, energy efficiency improvements for city buildings and changing street lights to LEDs to conserve energy.
ABOUT BEAVERTON
Beaverton has been recognized as the safest city in the Pacific Northwest for three consecutive years, as one of the best places to raise kids by BusinessWeek magazine (2009), a Top 100 Best Places to Live in America by Money Magazine (2006), an All-America City finalist (2005), one of the 100 Best Walking Cities in America by Prevention Magazine (2008), retains a Bronze Award Bicycle Friendly community designation by the League of American Bicyclists and is one of the Environmental Protection Agency's Green Power Communities. Beaverton also enjoys the most diverse population (by percentage of population) among Oregon cities.
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