Fiscal Note
Of the City’s $2,384,600 direct DOE grant award of EECBG funds, a total of $397,742 was disbursed as loans. To date, $173,673 of that figure has been repaid by loan recipients, with an additional $224,069 in future loan repayments expected from this grant source. These EECBG loan repayments will be available for the uses described in this Resolution.
Of the City’s portion of the Better Buildings DOE grant award of EECBG funds, a total of roughly $1.7 million remains unspent and will be available for the uses described in this Resolution.
No additional funds are being requested by this Resolution, and there is no net impact on the City levy.
Title
Authorizing the use of available federal energy funds to support and supplement existing eligible housing programs administered by the Community Development Division
Body
Following the enactment of the Federal American Recovery and Reinvestment Act of 2009 ("ARRA") the City of Madison was awarded a grant from the U.S. Department of Energy (DOE) of $2,384,600 under the Energy Efficiency and Conservation Block Grant (EECBG) Program to support energy efficiency and conservation activities. A portion of these funds were used to make loans to residential and commercial customers to support energy improvement projects. These loans are currently within repayment status. The City may reuse loan repayments, expected to total about $400,000, for projects and activities that support energy efficiency and conservation.
In addition to the grant described above, the DOE also made EECBG funds available to local governments through a separate competitive “Better Buildings” grant program. In April 2010, the City of Madison, along with partners Wisconsin Energy Conservation Corporation (WECC) and the cities of Milwaukee and Racine, jointly submitted a "Better Buildings" grant application to design and implement an energy market transformation program. This Wisconsin Partnership (WECC and the Cities of Madison, M...
Click here for full text