Sustainable financing program delayed 

A potentially revolutionary lending program that could help property owners reduce water use and fossil fuel energy consumption was delayed by three weeks.

The San Francisco Sustainable Financing program was scheduled to begin doling out loans on Monday, but the program will instead begin March 22, according to San Francisco Environment Department spokesman Mark Westlund.

The loans for water-saving devices, solar panels, insulation and similar property improvements will be administered by The City using private capital. They will be unusual because they could be repaid through energy- and water-bill savings that result from the improvements.

More than $100 million is potentially available to be borrowed under the program.

But San Francisco Sustainable Financing’s rollout will be delayed from Monday until March 22 to give officials time to tweak the program to take advantage of $3 million in new state grants.

The California Energy Commission grants will be used to provide incentives to improve the environmental performance of buildings, according to Westlund.

“It adds a whole new element to this program that’s very beneficial,” Westlund said.

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Staff Report

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A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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