SAN FRANCISCO—On Friday, February 26, San Francisco Mayor Gavin Newsom announced that the city has secured almost $3 million in federal stimulus money to offset costs for residential and commercial energy.
An estimated $2,955,957 will also support water efficiency projects. Beginning in early April, eligible applicants can take immediate advantage of these benefits. The federal stimulus money will be directed primarily towards home, business and apartment owners, with a special incentive for low income residents.
The new funding will also add incentives to the GreenFinanceSF program, which allows property owners to fund environmental improvements.
“San Francisco’s green financing program will help property owners overcome the large, up-front costs of major environmental improvements to their building,” said Mayor Newsom in a February 26 press release. “And these newly secured funds will lower the cost of these improvements significantly by providing additional financial incentives to borrowers.”
According to the press release, the funding was authorized by the American Recovery and Reinvestment Act, as administered through the California Energy Commission. It will support energy, water and efficiency upgrades including insulation, windows, heating and low-flow water fixtures.
“In addition to reducing San Francisco’s carbon footprint, this green financing program is going to sustain hundreds of green jobs in the city,” said David Assmann, acting director of the Environment Department.
