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Missouri Clean Energy District

Missouri Clean Energy District
The EnergySmart Loan Program is an innovative partnership between Boulder and Denver Counties and Elevations Credit Union to provide energy efficiency loans to homes and businesses at low interest rates. The Boulder County EnergySmart program and the Denver Energy Challenge both provide an "energy adviser" service, which will be closely tied in with the loan and allow borrowers access to free advice, rebates and project prioritization. The name EnergySmart Loan Program was formerly used for a PACE (Property Assessed Clean Energy) program in Pitkin, Eagle, and Gunnison Counties of Colorado. The ESLP in Pitkin/Eagle/Gunnison was based on Boulder County's the successful, though short-lived Climate Smart Program, which was initiated in 2009, and then shut down in 2010 based on guidance from the Fannie Mae and Freddie Mac.

Overview
The loan program (yet to be officially named) represents a public/private partnership between a Department of Energy Better Buildings Block Grant program and a Credit Union (Elevations) which has served the Front Range of Colorado for over 50 years. Nearly $8 million of public funds will be deposited into a Loan Loss Reserve account and will be used to cover Elevations in the event of any losses. This is set up to be a revolving loan fund such that the program will live on well past the expected end of federal funding for the Better Buildings programs (EnergySmart and Denver Energy Challenge). Leveraging Elevations' lending capital on a 5:1 basis, the loan program will have nearly $40 million in lending capital available for energy efficiency improvements to existing buildings. The program will also loan for solar and geothermal if the borrower can achieve a 15% improvement in overall energy efficiency first.