Ordinance 2008-1539 - Laserfiche WebLink

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pledge for financing for RE/EEI, a declining-value housing market would keep property owners from taking that plunge, for fear of being unable to realize sufficient resale value for these improvements. Since the avf;rage homeowner moves every 7-9 years, and the expected life of these improvements is, 20 - 25 years, and the energy savings paybacks for at least some of these improvemenrts will take around 20 - 25 years as well, these property owners are unlikely to undertake home equity financing that extends from 20 to 30 years; and • Boulder County, the City of Louisville and other local governments in Colorado and elsewhere have attempted to be creative in finding ways to make incentives for financing these improvements available now, and have created legal mechanisms, via Colorado House Bill 08-1350, that allow solar, wind, and other renewable energy and energy efficiency improvements to be financed by local governments with a repayment over 20 years through special assessments collected via the property tax collection system. The responsibility for repayrnE;nt remains with the property, so that the property owner does not have to worry about covering the improvements costs in the resale price they get for the property. The payment responsibility remains with the person who is getting the benefit of the annual energy costs savings; and • Boulder County, the Ci1.y of Louisville and other local governments will be able to offer, in part, below-market-rate financing through the creation of funding via issuance ofdouble-tax-exempt bonds. WHEREAS, this Council finds it desirable to consent to the installation of such improvements through the County's program on properties within the City, where installation of improvements and participation in the program are entirely voluntary for individual property owners; and WHEREAS, this Council finds that giving such consent to allow such participation is in the best interests of the residents and property owners of the City. NOW, THEREFORE, BE IT' ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The City hereby consents, as provided in Section 30-20-603(1)(a), Colorado Revised Statutes, as amended, to renewable energy systems and energy efficiency improvements being installed upon any private property within the City, subject to local land use and zoning re€;ulations, through Boulder County's Clean Energy Options Local Improvement District, upon its formation pursuant to the Act, in order that owners of properties located anywhere within the City may voluntarily include within such District and apply to participate in the County's program. Section 2. Any future consents that may be necessary or desirable for properties hereinafter included within 'the City of Louisville may be given by ordinance or resolution as Council in its discretion determines. 2