Last week, the City of Toronto launched its innovative new Home Energy Loan Program (HELP). This financing program is unique in Canada in that loan payments to the City can be made over a period of up to 15 years as a special (local improvement) charge indicated on the property tax bill. There are many advantages of this approach. HELP allows homeowners to avoid the large upfront cost of home energy improvements and pay for them over time. If the property is sold before the loan is repaid, the new owner will assume the balance of the loan and continue to repay it through the property tax bill. In many cases, the loan payments will be less than the energy savings obtained, giving homeowners immediate relief on their energy bills.




