Wednesday, August 06, 2008
Boulder County Commissioners approve resolutions for two ballot issues for November General Election
CONTACT: Barb Halpin, Boulder County Public Information Officer, 303-441-1622
Issues would extend Worthy Cause tax, enable creation of Clean Energy District
(Boulder County, Colo.) – The Boulder County Board of Commissioners today approved resolutions to place two issues on the November ballot: One asks voters to approve a new program that would allow Boulder County to issue bonds and establish a “Clean Energy Options” district to help homeowners and businesses afford to install renewable energy systems and energy efficient upgrades on their properties; the other seeks to extend a tax that provides funding for local non-profits’ capital improvements.
During a public hearing, the Board unanimously approved resolutions 2008-99 (County Issue 1A), 2008-88 (County Issue 1B) and 2008-100 calling for the ballot issue titles and setting ballot language for each of the individual issues.
Clean Energy Options Local Improvement District – County Issue 1A
The Board of Commissioners approved a ballot issue asking voters to allow Boulder County to issue up to a maximum of $40 million in special assessment bonds for the purpose of providing financing options for renewable energy and energy efficiency improvements via a “Clean Energy Options Local Improvement District.” This local improvement district would provide a voluntary mechanism for property owners – both residential and commercial – to obtain affordable financing for renewable energy improvements, such as installing a solar power system, or retrofitting a home to increase energy efficiency.
Only property owners who elect to participate in the program would actually pay for improvements through a property tax assessment; it is not a tax based on a geographic area or a sales and use tax. The program is voluntary and property owners would have the ability to opt in to the program for a loan value specific to the energy improvements that they elect to undertake on their own property.
Loans would be paid back through an annual special assessment on the property itself – meaning that repayment responsibility for the improvements would remain with the property if the property is sold, and thereby assure that the property owner(s) who benefits from the energy savings has the responsibility to pay back the loan, unlike home equity or other loans that require repayment in full at the time a property is sold.
“We know that there are many people throughout Boulder County who are interested in making improvements to their properties to make them more efficient and to add renewable energy,” Commissioner Will Toor said. “We also know that for many of these folks, the upfront investment that’s required poses a significant barrier to being able to make these investments that have such great benefits, both to the individuals as well as to society as a whole and to our future.
“This is potentially an extremely powerful tool to enable those people who might not have money for those investments to participate in the new energy economy,” he added.
Commissioner Cindy Domenico said, “It’s one of the most interesting concepts for a local improvement district that I’ve ever seen, having spent 20 years on the implementation of special districts in the assessment process. It offers financing opportunities to people in a way that is truly useable and can be a model for the state.”
The initial set of bonds are expected to be within the range of $14 million. The proposal would allow the County to issue bonds in several series, with flexibility for issuing both taxable and tax-exempt bonds.
The proposal for the Clean Energy Options District was made possible by the Colorado State Legislature’s passage of HB 1350 this year, which expanded counties’ financing abilities in relation to energy efficiency and renewable energy.
Worthy Cause extension – County Issue 1B
The Commissioners also approved a proposal for a 10-year extension of the existing “Worthy Cause” tax, a 0.05% sales and use tax that provides funds for local human services non-profits to make capital improvements. The existing tax, equal to one cent for every $20 spent, is set to expire on Dec. 31, 2008. Revenues will be divided into two funds: designated funds for specific non-profits that the Commissioners select; and a funding pool, which qualifying non-profits can apply for on an annual basis.
Speaking on behalf of both county issues, Commissioner Ben Pearlman said, “Boulder County residents for a long time have shown how much they care about the environment through their support of open space taxes and other issues, but they also care deeply about people and making sure everyone has the services they need in times of need. We have an opportunity here to both extend a tax that has been instrumental in helping non-profits focus on serving clients most in need and to launch a completely new program that will help homeowners for the first time access affordable financing for improving the environmental performance of their homes.
"I believe both of these programs will appeal to our residents’ preference for innovative and effective ways of addressing significant issues like climate change and helping to provide basic health and human services in Boulder County,” concluded Pearlman.
The final deadline for certifying ballot titles to the County Clerk for inclusion on the ballot is Friday, September 5. The Board of County Commissioners is scheduled to certify each of the three resolutions on Tuesday, September 2 at a regularly-scheduled 10:30 a.m. business meeting.
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Barbara HalpinBoulder County Public Information Officer
BHALPIN@bouldercounty.org
303-441-1622
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