The HELP program, now in it's third year, provides low-interest loans to homeowners who want to improve the energy-efficiency of their house and save money on utility bills. Examples of eligible cost-effective improvements or "retrofits" include replacing an old furnace, new windows and doors or updating insulation. Such upgrades have shown to reduce energy use by up to 25% and energy bills by up to $1000 annually.
For many people, the up-front costs for these improvements can be a barrier. Through HELP, the City provides a loan to complete the renovations, and the owner repays it over time in installments on their property tax bill. The potential savings on monthly bills will help to offset the repayment costs to the City each month.
-Low interest rates and longer repayment terms compared to conventional financing.