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Calgary is planning to reopen consumption for its Clear Power Enchancment Program loans that enable householders to borrow cash for inexperienced renovations.
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Householders can borrow as much as $50,000 for accepted upgrades to their properties, together with issues like insulation, new home windows, warmth pumps, furnaces and photo voltaic panels.
There have been 238 functions obtained on the primary day, requesting about $7 million of the $15 million in obtainable loans.
Earlier this week, the town’s director of local weather and surroundings, Carolyn Bowen, informed the town council they’d settle for extra functions this summer season.
“We really revised our software course of,” Bowen mentioned. “We stagger and do intakes three to 4 months aside and our subsequent consumption goes to be round mid-July.”
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She mentioned the confirmed date will likely be prepared within the subsequent few weeks and posted on the town’s web site so householders can mark the date and be prepared to use.
Claire Beckstead, chief of group power packages at Calgary’s Division of Local weather and Setting, mentioned the primary spherical of functions exceeded their expectations.
“Particularly since this can be a comparatively new financing mechanism in Alberta and there are competing financing gives available in the market, such because the zero p.c mortgage obtainable by means of the federal authorities’s Greener Houses initiative,” she mentioned.
The CEIP loans are distinctive as a result of they’re repaid by means of a home-owner’s tax invoice. In addition they stay hooked up to the property, slightly than the person, making it simpler for somebody to promote their dwelling after upgrades are made.
Alberta Municipalities deal with the applying consumption. CEIP has already been rolled out in eight different municipalities throughout Alberta, together with Lethbridge, Edmonton and Canmore.
Beckstead mentioned their methods will have the ability to deal with a excessive quantity of functions in July.
For particulars on this system and to enroll in e-mail updates, go to Calgary.ca/CEIP.
brthomas@postmedia.com
Twitter: @brodie_thomas
