By Sacramento Business Journal

The Placer County Board of Supervisors on Tuesday will consider two resolutions regarding the mPOWER Placer Program, which had been established to provide financing for property owners to make energy efficiency retrofitting improvements to their property.

A recent directive by the Federal Housing Finance Agency has effectively shut down the program.

The first resolution is to suspend the processing of residential applications as long as the FHFA statement is in effect. Supervisors will also consider a resolution supporting a federal solution to the impasse.

Placer Countyâ¿¿s program allowed residents to install energy efficient windows, high efficiency heating and air conditioning and solar systems. The program provided for a a property assessment, which the FHFA described as a loan and was incompatible with federally backed mortgages.

The program had received 134 applications from homeowners, requesting $5.27 million in energy efficiency retrofitting, and was on track to provide financing for $2 million in improvements per month on an ongoing basis, according to Treasurer-Tax Collector Jenine Windeshausen.

Copyright 2010 American City Business Journals
Copyright 2010