Babylon plans to set aside funds for green program

BY CHAU LAM | chau.lam@newsday.com

June 13, 2008

To help residents consume less energy and cut down on carbon emissions, the Town of Babylon will pay the upfront costs for some homeowners who want to make such energy-efficient renovations as upgrading heating and cooling systems, officials said yesterday at a news conference outside a West Babylon home.

Homeowners would have up to 12 years to repay the funds, as much as $12,000 per house, at about 3 percent interest, Supervisor Steven Bellone said.

The program's aim, officials said, is to reduce energy use in some of the town's 65,000 single-family homes by as much as 20 to 40 percent. The average home in Babylon uses enough energy to add about 25 pounds of carbon into the air daily, officials said.

"This program is an economic and environmental imperative," Bellone said at the news conference.

The town plans to set aside $2 million of taxpayer money initially to fund the effort, enough for about 500 homes, assuming it costs an average $4,000 to renovate each, Bellone said.

The monthly repayments will equal approximately the sum homeowners are expected to save on their energy bills. For those who sell their houses before they finish repaying, the new homeowners would assume the obligation.

Environmentalists and LIPA's chief executive, Kevin S. Law, touted the program as innovative and creative.

"It allows homeowners to retrofit their homes and be part of the solution," said Vince Capogna, of the nonprofit U.S. Green Building Council.

Babylon's program is open to owners of single-family homes. It will not apply to co-ops and condos.

Late last year, Nassau County Executive Thomas Suozzi announced a program with a similar objective in Levittown, the nation's first suburb. Nassau's program, however, relies on home-improvement and financial-services companies to provide discounts and low-interest loans to the homeowners.

Babylon first has to pass legislation to change a part of its code to tap into $2 million in the solid waste management fund needed to run the new program.