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CEE encourages communities to allocate funds to both the revolving and interest subsidy <br /> strategies. As you can see from the table below, a little bit of money can leverage quite a bit of <br /> money for the City. This example results in a leverage ratio of nearly 19 dollars for every$1 of <br /> City money. <br /> Below are three scenarios for the Interest Subsidy program for various allocations: <br /> The table assumes an average loan amount of$10,000 @ 4% for 60 months (5 years) <br /> Allocation: $25,000 $25,000 $25,000 (10 yrs) <br /> Interest Rate 4% 4% 3% <br /> Term 60 months 120 months 60 months <br /> Average Discount $399.74 $752.26 $624.15 <br /> CEE Admin Fee $125.00 $125.00 $125.00 <br /> Total Cost/Loan $524.74 $877.26 $749:15 <br /> Number of Loans * 47 28 33 <br /> Total Dollars ** $470,000 $280,000 $330,000 <br /> Leverage Ratio 19:1 11:1 13:1 <br /> * Derived by dividing the discount amount into the dollars allocated. Example: $25,000 <br /> divided by $524.74=47. <br /> ** Derived by multiplying the number of loans by the average loan amount. Example: 47 x <br /> $10,000= $470,000. <br /> The following information summarizes the home improvement financing activity the Center for <br /> Energy and Environment has generated in the City of New Brighton to date: <br /> Program #of Loans Closed Value of Loans Closed_ <br /> MHFA Community Fix Up Loan 6 $64,998.84 <br /> MHFA Fix Up Loan 9 $130,362.54 <br /> CEE Home Energy Loan 11 $63,036.00 <br /> MHFA Energy Saver Rebate 7 $16,809.40 <br /> MHFA Deferred Loan 1 $7,831.00 <br /> MHFA Rental Rehab Loan 1 $99,333.00 <br /> CEE Rental Energy Loan 1 $10,000.00 <br /> Private Bank Loan (through CEE) 2 $16,763.00 <br /> Total: 37 $401,302.75 <br /> CEE Financial Resources has originated over$400,000 worth of home improvements in the City <br /> of New Brighton for its homeowners and rental property owners. <br />