A program aimed at making energy-saving improvements easier to finance is getting attention at Lexington City Hall.
A council committee Tuesday began the process of setting up an Energy Project Assessment District.
Attorney Jonathon Miller made a presentation to the council’s budget committee.
Under the program, an energy services contractor determines the needed improvements for commercial, industrial, and multi-housing buildings. Building owners, working with banks, can take out loans that are then repaid through property tax bills.
Committee Chair Kevin Stinnett believes there’s interest locally.
“I know there’s a handful right off the bat that are ready to move forward with this, major companies here in Lexington. And we’re talking large dollars, so I think there’ll be more than people think,” said Stinnett.
Fayette Property Valuation Administrator David O’Neal also appeared before the committee. He says he was brought into the discussion about such a program two years ago.
“In the two years since then, we’ve passed the statute in Frankfort and Owensboro and Bowling Green and Covington, and Louisville and all the other cities that we heard Jonathon talk about have passed an ordinance and there are actually projects on the tax rolls. And here we are still talking about collection rates,” explained O’Neal.
The committee acted to take requests from entities who would make the energy assessments and/or act as collectors of the new property tax item. Representatives of the county property valuation administrator and sheriff’s offices both expressed an interest in those duties.
