Now in its 21st year, the Energy Revolving Fund has saved an estimated $117 million in energy costs for Missouri’s schools, universities, and government buildings.
The fund has set aside ten million dollars in 0% loans. Applications will be accepted until October 15, 2010.
Here is what you need to know about applying for a loan from the fund:
Public K-12 school districts, along with public colleges and universities are eligible for loans. City and county governments, public hospitals, and water treatments plants are eligible as well. Applicants can apply for up to $1 million in loans with a payment period not to exceed ten years. A one point (1 percent) origination fee is charged on each loan.
Uses of the Loan
The Energy Revolving Fund may finance a variety of energy-saving investments, including upgrading insulation, lighting, windows, heating and cooling equipment and other items that affect the facility's energy use. Recipients may save taxpayer money on energy expenditures and, after the loan has been repaid, redirect the savings to fund other essential services.
Applications are due by October 15, 2010. Awards will be offered on December 31, 2010. Applications can be downloaded here.
Loan recipients will be determined by how quickly the project will pay for itself in estimated energy savings. If awards have the exact same payback ratio, the project with the highest percentage of BTU savings will be ranked higher and receive funding. Any applicant with ongoing enforcement issues with the Missouri Department of Natural Resources will not receive funding.
The state strongly recommends contacting the Department of Energy’s loan managers before beginning the application process.
In Kansas City, loan managers can be reached by calling 816.759.7313, in Jefferson City, 573.751.3443, ext 2263.
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