The Commercial Property Assessed Clean Energy Program, sponsored by Councilman Roger Berliner, D-District 1, would provide loans for renovations or retrofits to commercial real property — that is, any real property other than a residential dwelling with less than five units. Berliner introduced the bill Tuesday.
The fund would be seeded with general fund dollars and possibly private sources.
As proposed, an owner could borrow money to buy or install energy use reduction equipment and pay the loan back through the property’s real estate tax bill. The loan would constitute a first lien on the property and would remain attached to the mortgage if the building is sold. Read full story.