How to improve your home right now using the LIC

Environment Hamilton and HARE want to bring a Local Improvement Charges (LIC) program to Hamilton for Home Energy Conservation Projects

Making your home more energy-efficient means you’ll save on your utility bills. What if there was a way to finance those home improve-ment projects without having to pay cash up-front? There is! Municipalities all over North America have implemented financing programs called local improvement charges (LICs) to aid home owners.

What are LICs?

LICs are long-term, low-interest loans backed by the City.

Unlike a typical loan, LICs are added to the homeowner’s property tax bill, and stay with the property should the owner sell it.
LICs are currently used by Hamilton homeowners for limited property improvements. We want to extend LICs to improve your home com-fort and reduce your energy bills.

Benefits to you

  • Lower utility bills
  • A more comfortable, higher value home
  • A long-term, low-interest loan that stays with the property, not the property owner

Cities like Toronto and Halifax have already started LIC pilot projects for energy-saving retrofits and renewable energy installations and have had immense support and success so far.

Existing LIC Program Example

To give you an idea of how an LIC program works, here is an overview of an existing program in Canada:

  • Available Loan terms: 5—15 years
  • Interest rate: 2.5%—4.25%
  • Maximum financing amount: 5% of current value assessment

Examples of applicable projects:

  • Insulation
  • Air sealing
  • Solar water heaters

A Certified Energy Advisor undertakes an audit to identify which home improvements will benefit you the most.

Example project:

Details: 2000 sq ft home, 15 year term.  Funding amount: $7000 Total charge after incentives, interest, admin fees: $ 7455 Monthly payments through property tax: $45 Savings on utilities/month: $52

  • HVAC
  • Toilet replacement
  • Windows and doors

Environment Hamilton and Hamilton Association for Renewable Energy (HARE) are looking for volunteers to help us bring an exciting new program to Hamilton.

What can you do?

Are you interested in seeing the City of Hamilton establish an LIC program for homeowners? Contact your ward councillor and let them know you would like an LIC program for home energy retrofits here in Hamilton.
You can also contact Environment Hamilton at 905 549 0900 or email for more information.


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Posted in City of Hamilton, Energy efficiency, Local Improvement Charge Tagged with: , , , ,

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