Mayor Jerry Abramson announced today the creation of four new loan programs whose purpose is twofold: (1) To shore up job creation amid a time of rampant poverty and cannibalism, and (2) create a few green jobs in the process. Created from a combination fund of both federal and city moneys, the new loan programs are as follows (via press release):
P.O.W.E.R. Loan — Providing Opportunities With Emissions Reduction, a $2 million revolving loan fund for the retrofit of off-road diesel equipment.
Green Jobs Revolving Loan Fund — $1.4 million revolving loan fund for companies with new green products or jobs.
Non-profit Energy Audit Grant — $200,000 grant pool for non-profit organizations wanting to make their facilities more energy efficient. The money will pay for an energy audit that makes recommendations for improving efficiency and lowering utility bills.
Go Green Loan — A revolving loan fund that provides incentives for manufacturing companies wishing to improve their energy efficiencies through monitoring their power equipment.