COLD LAKE - The City of Cold Lake has secured a substantial boost for its energy efficiency initiatives through the Green Municipal Fund (GMF).
The municipality is set to receive $627,600 in grants and $1,255,280 in loans, specifically directed at energy retrofit financing programs aimed at enhancing the energy performance of residential properties. This program offers its residents a safe environment, promoting sustainability and economic efficiency.
The City is one of five municipalities included in the GMF.
According to information from the Green Municipal Fund, the initiative lies in the development of energy retrofit financing programs designed to improve energy efficiency in residential properties. These programs will provide a financial approach for homeowners to undertake energy-efficient upgrades in their homes.
From enhancing insulation to upgrading heating and cooling systems, there are lots of possibilities. This program offers the utilization of Property Assessed Clean Energy (PACE) financing, which allows homeowners to repay the costs of their energy-related projects over time through a convenient Clean Energy Improvement Program (CEIP) charge added to their property tax bills.
Residents can apply for the GMF by registering an account on the GMF’s funding portal system, which is located on their website. Residents must complete and submit a pre-application form to determine eligibility. GMF will contact all applicants and eligible projects, and they will be invited to submit a full application along with supporting documents.
The Green Municipal Fund website states that its expert training and resources are specialized to address the sustainability needs of Canadian municipalities, regardless of their starting point. The program's key focus areas are energy, affordable housing, transportation, water, waste, and land use.
Among those who have eagerly embraced this opportunity to take advantage of the program is Maria Potsho, a long-time resident of Cold Lake. "I've recently been introduced to this program, and as a homeowner, I find myself genuinely captivated by the possibilities it offers. I mean, who wouldn't be, right? The ever-increasing cost of living is a sad reality that we all face,” she said.
The Green Municipal Fund website explains that the program plays a vital role in accelerating the adoption of sustainable practices within local governments. Through the combination of resources, funding, and training, this program provides municipalities with the necessary tools to bring in sustainability, thereby enhancing the quality of life for Canadians.
GMF is a $1.6 billion program funded by the Government of Canada. It is the driving force behind the initiative.
