Newsom to answer questions about how program works and what property owners need to do to qualify during Internet “GreenFinanceSF Town Hall” on April 12

04/06/10 – Mayor Newsom announced today that the GreenFinanceSF program will open for business on April 12. The program will allow property owners to fund environmental improvements with the financing attached to the property and paid back on the property tax bill. Also, on April 12, Mayor Newsom will host an Internet town hall at 6:30PM to answer questions about participating in the program.

“San Francisco’s green financing program will help property owners overcome the large up-front costs of major environmental improvements to their buildings,” said Mayor Newsom. “These improvements will save property owners money on monthly utility bills, increase property value, and will help the city meet its aggressive greenhouse gas reduction goals.”

The average homeowner can reduce energy and water use by up to 25 percent through simple improvements like installing low-flow toilets, solar water heaters, solar electric panels, double-paned windows, and more. Even fixing leaky ducts can make a huge difference in reducing heating bills. Property owners can apply for funding online at GreenFinanceSF.org, as well as review eligible projects and pre-approved contractors. Information is also available through San Francisco’s municipal information line 3-1-1.

The Mayor’s Office, working with Supervisor Eric Mar, the San Francisco Public Utilities Commission, the Controller’s Office of Public Finance and the Department of Environment, developed the accessible, low-cost loan program that residential and commercial property owners can use to finance environmental-oriented building improvements. The loan program establishes a Citywide Mello-Roos Special Tax District that would be available to finance privately-owned energy efficiency, renewable energy and water conservation improvements. The loan is attached to the property, rather than the individual, and is paid back through property taxes over up to 20 years.

Mayor Newsom’s online GreenFinanceSF town hall can be viewed live on Monday, April 12, 2010 at 6:30 PM on Ustream (http://www.ustream.tv/mayornewsom). There are a number of options for submitting questions about GreenFinanceSF. Residents can email them in advance to: contact@greenfinancesf.org or ask them live on Monday on the Ustream page. Questions can also be submitted via Twitter by tweeting them with the hashtag #GreenFinanceSF.

Mayor Newsom’s Internet GreenFinanceSF town hall is part of a larger Open Gov Initiative for the City and County of San Francisco, which focuses on open data, open participation and open source. In February, Mayor Newsom hosted an Internet “Budget Town Hall” with more than 24,000 unique viewers.