ZERO INTEREST AIR QUALITY CONTROL LOAN

This is the second of our three part series on various programs The City of Fort Collins sponsors. These various programs are designed to help you save money and capitalize on programs your city offers! In this blog, we are going to focus on the Zero Interest Air Quality Loan. These loans originated because the city contracted with EnergySmart Partners LLC. They assist homeowners to make home improvements with affordable lending programs and flexible loan terms. Loans are regulated by the Colorado Division of Real Estate.

Loans are available to City of Fort Collins residents, as well as rental properties if the owner applies. Air quality improvements include radon mitigation, mold remediation, fireplace or wood stove upgrades.

For radon mitigation, a homeowner must have a radon amount of 4 picoCuries/liter or higher to be eligible. The homeowner can have up to 90% of the cost financed, the minimum amount of the loan is $1,000 and the maximum is $3,000.

For mold remediation, a certified mold remediation contractor must be present and have made a claim. A homeowner can have up to 90% of the cost financed, the minimum amount of the loan is $1,000 and the maximum is $10,000.

For the fireplace or wood stove upgrade, there are four upgrades which are eligible for this loan:

1. Gas log fireplace upgrade to gas fireplace insert
2. Wood stove/fireplace upgrade to gas stove/insert
3. Wood stove/fireplace upgrade to pellet stove/insert
4. Wood stove/fireplace upgrade to certified wood stove/insert

To be eligible the homeowner must prove they have an old stove they are recycling, if it is a stove they are replacing. Also, loans can only be used for future projects, not ones that have already been started or completed. Work on a project funded by an air quality loan may only begin after the loan has been approved. Similar to radon mitigation, a homeowner can have up to 90% of the cost financed, the minimum amount of the loan is $1,000 and the maximum is $3,000. Additionally, a building permit is required to complete this project.

Additional Details
Projects may be combined. However, you may only have one outstanding air quality loan, but you may finance multiple projects in one loan. Unfortunately, no funds may be used for new construction homes, they can only be used for existing homes. Loans can include all or a portion of the project cost and the cost of a building permit or radon test. No interest is charged on air quality loans, but there is a $25 credit-check fee. The repayment schedule varies by loan amount.

Once you decide on the improvements you want to make:

1. If applying for a radon loan, complete a radon test.
2. Obtain one or more bids and select the one that meets your project goals.
3. Complete the Loan Application. Fill out the form online.
4. Pay $25 credit-check fee by credit card online.

For more information about the loan you can contact:
Chris DeForge, Funding Partners*
330 S. College Ave., Ste. 400
Ft. Collins, Co. 80524
970-494-2021
chris@fundingpartners.org
NMLS#225230
License#100029884
*This loan program is offered in partnership with Funding Partners for Housing Solutions, Inc., 330 S. College Avenue #400, Fort Collins, CO 80524. 970.494.2021. NMLS No. 383923. All loans will be secured by a lien against your property. Not all applicants will be approved. Terms and conditions apply, call for details.

For additional information about the program you can contact:
Melissa Hovey, City of Fort Collins Senior Environmental Planner
Email: mhovey@fcgov.com
Phone: 970-221-6813 or 970-221-6600