Energy and Power Reduction Incentive Plan
The Foundation and Development Fund Board has authorized a short-term loan program for churches and agencies of the Tennessee and Memphis Conferences to provide an incentive for our congregations and boards to reduce energy and power consumption.
Energy and Power Reduction Incentive Plan Loans will be for four years, with an adjustable loan rate 2% above the rate paid on investments (e.g., if the current investment rate is 1.9%, the initial loan rate is 3.9% with a maturity of four years). The rate will fluctuate with the rate paid on investments, never more than 2% above the current investment rate.
In order for an application for a loan to be considered and ultimately approved, the local church Board of Trustees (or the appropriate body of the agency or extension ministry) must complete each of these three steps.
In order for an application for a loan to be considered and ultimately approved, the local church Board of Trustees (or the appropriate body of the agency or extension ministry) must complete each of these three steps.
- Step 1 Complete an energy audit of the church building or facility (and parsonage if appropriate). (Energy audit information may come from TVA and area electric systems and should be done by a licensed professional.)
Click on the link below to go to TVA's free energy audit website.
http://www.energydepot.com/energyrightbiz/utilityselect.asp - Step 2 Develop a plan for changes that will reduce energy consumption and cost, including determining the cost of the plan and its various components.
- Step 3 Complete an application for a loan from the United Methodist Development Fund of TN/KY, Inc., (UMDF) with letters from the pastor and District Superintendent supporting the plan and the application. The loan application shall include at least a copy of the energy audit, the plan for changes, and the cost of the various components of the plan. The audit and application shall also show anticipated savings over the initial four years following the completion of the changes.
Click on the light bulb below to download the loan application.
For more information regarding this Energy and Power Reduction Incentive Loan Program, contact Dr. Vin Walkup or Tiffany Raines at the Development Fund office - vwalkup@umfmtc.org; traines@umfmtc.org; (615) 259-2066 or (615) 259-2008.
