AB 811 enables local governments to establish regional financing districts that allow property owners to install energy efficiency home retrofits or renewable energy with no money down. These regional financing districts finance public improvements and services when no other source of money is available and provide the large amount of money initially needed to build the improvements or fund the services.
Local governments pay for public improvements by instating bonds, which are repaid through the property taxes of all citizens who will benefit from the improvements. Since the improvements reduce utility bills and the payments are incremental, it is likely that property owners would realize savings immediately rather than waiting several years for a return on investment.
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