Home > News > Tennessee Local Government Loan Program (LGLP)
Tennessee Local Government Loan Program (LGLP)
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Name |
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Tennessee Local Government Loan Program (LGLP) |
Status |
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Active |
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Funding Mechanism |
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Loan fund |
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Duration |
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1991 - present |
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Objectives |
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To provide municipal and county governments with funding for energy efficiency improvements |
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Sponsors |
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Energy Division of the Dept. of Economic & Community Development |
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Eligible Sectors |
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Tennessee local govt./public school system |
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Eligible Projects/Technologies |
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In courthouses, administration buildings, schools and maintenance facilities and projects include energy efficient lighting, heating, ventilation and air conditioning and boiler rebuilding, replacement or modification |
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Fund Endowment |
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Petroleum Violation Escrow (PVE Funds) |
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Terms |
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-Funding Instruments |
Loans |
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-Interest Rates |
Currently 3% |
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-Payback |
7 years |
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-Size |
Up to US$ 500,000 |
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-Collateral |
Submission of Capital Outlay Note by local govt. |
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-Share of loan in project cost |
Loans are 100% up to a project cost of US$ 500,000. |
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-Loan criteria |
Must be a Tennessee local govt./public school system. |
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Comments |
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Sources |
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Tennessee Energy Division |
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| Contact Information |
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