State Capitol Report: Senate’s unanimous vote for PACE bond bill and more

In today’s State Capitol Report, Illinois REALTORS® notes that House Bill 2831 will be sent to Gov. Bruce Rauner for his consideration after the Senate unanimously approved it earlier this week.

Members can log in to the May 19 edition for a brief explanation of how the bill could help cities or counties to establish clean energy programs. Illinois REALTORS® strongly supports the bill. Read the State Capitol Report now.

The State Capitol Report also provides this week’s updates on other bills under consideration by the House and Senate, including a companion bill to HB 2831. That bill (SB 1700), was passed by the Senate but no hearing date has been set in the House.

 

 

PACE bill unanimously approved in Illinois Senate; on to Gov. Rauner

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On Wednesday afternoon, the Illinois Senate unanimously approved House Bill 2831, the Property Assessed Clean Energy (PACE) bill.  The bill will now be sent to the Gov. Bruce Rauner for his consideration/signature.

The legislation creates the Property Assessed Clean Energy (PACE) Act to provide for this innovative financing mechanism for specified energy efficiency improvements on commercial and industrial properties. A city or county may establish a clean energy program and create a PACE area by entering into a voluntary assessment contract with the property owner to finance or refinance energy projects.

The repayment of the costs of the energy project are through assessments on the property. Key safeguards include:

  • recording of the voluntary contract,
  • requirement that there be written consent of the existing mortgage holder,
  • contractors agree to adhere to terms and conditions established by the unit of local government,
  • property has no delinquencies,
  • owner is current on all mortgage debt, and
  • amount of the assessment in relation to the greater of the assessed value of the property or the appraised value cannot exceed 25 percent.

Tenggren wins NAR’s EverGreen Award

Tenggren_Christopher_F2015_RAFVChristopher Tenggren, vice chairman of the 2016 IAR REALTORS® Political Involvement Committee (RPIC) and a broker for RE/MAX Great American North in St. Charles, will receive a 2015 EverGreen Award at the NAR REALTORS® Conference & Expo in San Diego on Nov. 14.

This year, Tenggren and another EverGreen Award recipient from Texas will be honored at the EverGreen Reception, and it will be conducted jointly with ABR® and SRES® designees.

Tenggren, who joined the RPAC Hall of Fame in 2013, participated in the first NAR Green Designation program in 2009. He has been an active member of the NAR Green REsource Council and played an important role in making the MLS green through his work with the Midwest Real Estate Data’s MLS Green Committee.

He works with builders in the western suburbs of Chicago, encouraging them to use green practices with new home construction and remodeling projects. He also lives in an Energy-Star-Certified Home custom-built for his family in 2006.

Tenggren has served on numerous IAR committees since 2003. In 2016, he’s on seven committees including RPIC.

So you think you know how to save energy?

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According to a video by House Logic, your efforts to close room vents and keep fans running in empty rooms may be for naught. “The Tip Jar: Energy Saving Myths That Are Costing You More,” disputes common energy saving misconceptions homeowners might appreciate, too.

  1. Turn off fans when you leave a room because fans cool off people, they don’t change the air temperature.
  2. Open vents in all rooms because closed vents can cost up to 15 percent more.
  3. Program thermostats to let room temperatures go up 10 to 15 degrees when you’re sleeping or gone to save up to 15 percent of costs.

Get more details.

Longevity of Earth Day shows public interest in ‘green’

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Illinois REALTORS® know what’s good for the environment is good for business, so recognizing the 45th anniversary of Earth Day can help you connect with potential customers.

Not only are consumers interested in recycling, preserving resources and reducing their “carbon footprints,” an entire “green” industry has been created. Consider some of the following resources for Earth Day and every day: