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County of Sonoma

John Haig Energy & Sustainability Manager. County of Sonoma. Status of Energy Independence. Harness the Power of AB 811. SCEIP opened on March 25 th , 2009. The first contract was signed on April 16 th , 2009. Forty-Five million dollars in applications for efficiency upgrades!.

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County of Sonoma

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  1. John Haig Energy & Sustainability Manager County of Sonoma

  2. Status of Energy Independence Harness the Power of AB 811 SCEIP opened on March 25th, 2009. The first contract was signed on April 16th, 2009. Forty-Five million dollars in applications for efficiency upgrades! Reduce emissions and create jobs; we’re all in it together.

  3. How can AB 811 Benefit You? • GHG reduction • Enables property owners • Rebates and tax credits • Repaid over as many as 20 years • Creates GREEN jobs

  4. Funding Involve Stakeholders ASAP. Anticipate a greater financial need from the start. Do research. Think creatively. Work together. Start BIG. Consider adding the AB811 contractual assessments to Teeter

  5. AB 811 – FINANCES $100 Million Financing Assessments to participants; 7% Interest will cover administration costs plus Treasury note. SCEIP Program Initial $100 Million Dollar commitment $45 Million in Treasury Notes $55 Million from SCWA Property Tax System-Assessments repaid through Twice yearly Tax payments Bonds; when loan volume reaches threshold.

  6. $100 Million Funding Current Applications in Dollars

  7. Applications Received

  8. Your Program Will Flourish Work with Lenders Plan for a Storefront and/or Web Site. Tools and Applications Funding Administrators Marketing Legal Team Take time to create the right program for your needs

  9. Eligibility Requirements • Legal owner(s) of property • Current on mortgage(s) • Current on property taxes • No Bankruptcy • No involuntary liens on the property • Less than 10% value of the property • LTV 110% • Lender Acknowledgement on Commercial upgrades

  10. Minimum Financing Amount $2,500

  11. Assessments An assessment is an added item on your property tax bill. Often confused with re-assessing the property. Paid twice a year with the property taxes. Remain with the property for up to 20 years. Does not impact the credit score of the property owner. If the house is sold, the assessment remains with the property.

  12. AB 811 – Energy Store SONOMA COUNTY ENERGY INDEPENDENCE PROGRAM

  13. SCEIP Web site

  14. The Future of Energy Independence • Some Possibilities… • Increased commercial outreach • Mandatory/incentivized audits of homes • Partnership with utilities on joint efforts towards energy efficiency and distributed generation

  15. The Future of Energy Independence • Some new hope • Tax exempt status for refinancing bonds • Other financing possibilities-deferred comp, private, banking, pensions, Treasury, Federal/State reserve, • Regional bonding – grant exploration

  16. SCEIP 404 AVIATION BOULEVARD, SANTA ROSA, CALIFORNIA 95403 PHONE: (707) 521-6200 FAX (707) 524-3769 energyinfo@sonomacountyenergy.org www.sonomacountyenergy.org

  17. www.sonomacountyenergy.org (707) 521-6200

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