Published: Jul 06, 2011 02:00 AM
Modified: Jul 04, 2011 06:54 PM
CARRBORO - The Board of Aldermen approved the town's first energy-efficiency loan last week, granting Surplus Sid's $30,000 to renovate its 3,800-square-foot surplus and theater props store on East Main Street.
The loan can be paid back over 10 years at 3 percent interest and is secured with store equipment. Surplus Sid's owner Barry Keith must have the work under contract within 90 days.
Keith expects to reduce the store's energy consumption by roughly 35 percent. The work will include replacing the roof and adding modern windows, air sealing and ductwork, energy-efficient lighting and a dual-fuel hybrid HVAC unit.
The Energy Efficiency Revolving Loan Fund, available to local businesses and nonprofits with fewer than 50 employees, was made possible with a $55,000 grant from the U.S. Department of Energy through the Southeastern Energy Alliance.
The town recently added another $45,000 to the program. The goal is to cut energy consumption and utility bills by 15 percent to 20 percent. When the work is complete, it will be verified through an on-site inspection and utility bills.
Mayor Mark Chilton recommended that future loans be secured with real estate or a personal guarantee. The program and loans approved in the future will be reviewed by the Environmental Advisory Board for potential reductions of carbon emissions.
For more information about the loan program, visit www.townofcarrboro.org/ecd/EERLF.htm
or contact Nora Barger at 919-918-7334 or firstname.lastname@example.org
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