Zachary A. Stanton Posted: Wednesday, October 30, 2013 8:00 am
Fayetteville is the first city in Arkansas to offer property owners monetary incentives to implement energy-efficient systems on their land to stimulate the economy while, at the same time, making Arkansas more environmentally friendly.
The Fayetteville City Council unanimously passed an ordinance in April to create an Energy Improvement District in Fayetteville, according to a Fayetteville City Council press release.
The Energy Improvement District will create several bond-funded financing programs for property owners that are aimed at improving renewable energy, energy efficiency and water conservation on residential, commercial and industrial properties.
One such financing program, Property Assessed Clean Energy, is a voluntary program that enables property owners to borrow money with very low interest rates in order to implement renewable energy, water conservation and weatherization improvements to their properties. Read more.