Purpose

Propose Green Loan Scheme to support home owners in the Borough to access energy efficiency measures (retrofit) or renewables. Main aim to reduce fuel poverty, provide comfort and accessibility to home improvements for those outside of the government grant scheme eligibility criteria but not in the 'able to pay' market. Scheme will utilise up to £1m of reserves for an externally managed green loans scheme - with the ability to recycle loan repayments to generate a circular loan stream.

Decision

Recommended establishment of an ABC Green Loans Scheme with authority delegated to the Head of Policy and Performance and the AD of Finance jointly to create a specification for the procurement and appointment of the services of an FCA regulated provider to manage the scheme on behalf of the Council. Authority is also delegated to the Head of Policy and Performance and the AD of Finance jointly in consultation with the Portfolio Holder for Climate, Environment and Sustainability to design, develop and adapt all detail of the scheme and revise these on ongoing basis to ensure scheme remains fit for purpose. The Solicitor to the Council and Monitoring Officer be authorised to negotiate, finalise and complete all necessary legal agreements an other documents to give effect to the above and/or to appoint external solicitors to do so as may be required.

Alternative options considered

Option 1 - Tender for Green Loans delivery partner utilising ABC reserves for Capital
Option 2 - In house delivery of loans
Option 3 -Not deliver a green loans scheme