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Generally, the county, or city or town, may utilize LID bond financing authority to issue <br />bonds for the purpose of creating the fund necessary to pay for the costs of these <br />improvements up-front. The County intends to put a ballot issue before the voters this <br />November to establish such a district. In order to obtain this LID financing, the property <br />owner must agree to be a part of the district and to repay via special assessments the costs <br />of the improvements over a period of years (generally 15 to 20 years.) The great <br />advantage of this financing for property owners is that the assessments are paid via the <br />annual property tax bill, and the repayment obligation remains with the property, even if <br />the property is sold to new owners. The repayment burden remains with the property <br />that is receiving the energy savings advantage. The hope is that this will encourage the <br />property owner to pursue these improvements and this financing even if the owner will <br />not own the property for the remainder of the financing term. <br />At this time, we need to obtain a resolution or ordinance, whichever is appropriate under your <br />local regulations, giving the consent of the City to authorize these improvements upon properties <br />located within Boulder County and within 1:he city limits of Louisville. We would like to have <br />an approved resolution or ordinance no later than September 5, 2008 of at all possible. With this <br />municipal authority to be included in the Clean Energy Options Local Improvement District, and <br />county-wide approval of the November ballot measure, property owners in your jurisdiction <br />would then be eligible for this financing program. <br />Undoubtedly there will be details to work c-ut in the administration of this program. With voter <br />approval of this ballot initiative and your assistance, Boulder County will be leading the state in <br />providing property owners with a low cost mechanism to increase the energy efficiency of their <br />properties. <br />Sincerely, <br />Board of County Commissioners of Boulder County <br />Ben Pearlman, Chair <br />Will Toor, Vice-chair <br />Cindy Domenico, Commissioner <br />