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Owner Financing Homes in Maryland

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					SIERRA CLUB MARYLAND COOL CITIES
           WORKSHOP
          JUNE 27, 2009
SIERRA CLUB MARYLAND COOL CITIES
           WORKSHOP
          JUNE 27, 2009
                     Agenda
•   EZ|Energy Zone Program Overview
•   Program Benefits
•   How it Works
•   Q&A




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                     EZ|Energy Zone
   Enables government to create green jobs and
   reduce carbon emissions by promoting clean
       energy improvements for buildings

• Finances green improvements with voluntary
  property tax assessments
• Eliminates barriers to adopting green
  improvements
• No cost to government
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             Benefits to
             Property Owners
             • Begin saving money
               immediately
             • No up-front costs
             • No impact on credit
             • No loan application
             • No sunk costs –
               subsequent owners
               assume payments

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Benefits to
Government
• Reduce
  greenhouse gas
  emissions by 10-
  50% per improved
  building
• Create green jobs
• Neutral impact on
  government
  budget
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                For Every 1,000 Properties



            160 new                     Invest $10                        Cut 1,400                         Save
              jobs                      million into                       tons of                       $340,000
                                           local                           carbon                       annually on
                                         economy                          emissions                      utility bills

                                                                Assumptions
 •   Average cost of improvements $10,000
 •   Average 7 tons/year carbon emissions per property (homes)
 •   Average $140/month household utility bill (Pepco Rate Announcement, 3/7/06)
 •   20% energy savings per project (range is 10 to 40%)
 •   16 jobs created per $1 million invested (Center for Working Families, Green Jobs NY Program Background, February 2009)


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            How it Works - Government

                     2-4 Months                                  Ongoing

                        Negotiate and                     Finance           Collect via
 Pass enabling
                             sign                         energy           special fee or
  legislation
                         agreements                    improvements             tax




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     How It Works - Property Owner
                                                     2. Schedule
                     1. Submit
                                                     energy audit
                     application
                                                     and scope work




                     4. Agree to                     3. Receive
                     special tax or                  approval on
                     fee                             scope




                                                     6. Repay via
                     5. Complete
                                                     special tax or
                     work
                                                     fee


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                 How It Works - Financing
         Bank




 Loans
to E|W          Repays
                 loan

                                 Repays   Government          Repays   Property
                                   E|W                        as fee    Owner
                         Deposits to                      Pays PO
                          City acct




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                          Thank You


                           Peter Mellen
                      peter@edisonwright.com
                           301-229-4025




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                      About Edison|Wright




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