(Toledo, OH) The Toledo-Lucas County port authority is being asked to help fund a pilot project to help homeowners with energy efficiency projects.
Under the proposal, the port authority would lend the land bank $150,000 as seed money for the Property Assessed Clean Energy, or PACE financing program.
The property tax proceeds would be used for a revolving loan fund, allowing homeowners to apply for financing of energy efficiency improvements, such as HVAC, boilers, lighting, insulation, hot water tanks, and windows. The loans would be repaid through a special assessment placed on their property over a 15-year period at 4.5 percent interest.
The pilot program would include Toledo, Oregon, Maumee, along with Springfield and Sylvania Townships.